ALERT 97-31
Type:   Unauthorized Banking        Subject: Bank of Finance          

TO:  Chief Executive Officers of all National Banks; all State
     Banking Authorities; Chairman, Board of Governors of the
     Federal Reserve System; Chairman, Federal Deposit Insurance
     Corporation; Conference of State Bank Supervisors; Deputy
     Comptrollers (Districts); District Counsel and Examining
     Personnel
      

RE:  Bank of Finance
     P.O. Box 770729
     Woodside, New York  11377

Information has been received that the subject entity may be
operating a banking business 
in the United States without authorization.  Further, the New
York Banking Department 
has advised that the subject entity has not been granted
permission to operate in New York.  Advertising material
indicates that this entity is a member of the FDIC; a false
statement.

Any information which you may have concerning this matter should
be brought to the 
attention of:

                    Office of the Comptroller of the Currency
                    Enforcement & Compliance Division
                    250 E Street, SW
                    Washington, DC  202l9
                    Fax (202) 874-5301


                                                    
Daniel P. Stipano
Director
Enforcement & Compliance Division                                 
   
Date: December 1, 1997