‘First National Bank’ claiming Minneapolis address not a federally chartered institution, OCC warns in alert

An institution that calls itself First National Bank, reportedly located on 9th Street in Minneapolis, Minn., is not a national bank even though it presents itself to be one, the Office of the Comptroller of the Currency (OCC) said in an “unauthorized banking” alert issued Thursday.

OCC “has been informed that an entity using the name of First National Bank and reporting to be located at 222 S 9th Street, Minneapolis, Minn. 55402 is misrepresenting itself as a national bank,” the agency notice states. “First National Bank purports to be a financial institution offering business banking services. This entity is not a licensed or chartered bank.”

The agency says businesses have reported receiving fictitious letters and faxes offering uncollateralized revolving lines of credit, secured loans, and long-term loans. Fictitious correspondence may include telephone numbers of (800) 491-0264 or (855) 414-9437.

“Consumers should not respond in any manner to the above-described correspondence,” it says.

The notice includes a list of organizations where those victimized by the entity can file reports.

Alert 2019-4