Changes

In a lawsuit filed March 18, 1978, the [[Securities and Exchange Commission]] charged Lance with violations of federal securities' law, and BCCI's application to purchase Financial General Bankshares was denied. Abedi then formed a new takeover vehicle, Credit and Commerce American Holdings (CCAH), based in the Netherlands Antilles. The largest investor in CCAH was Kamal Adham, who put up $13 million of his own money On October 19, 1978, CCAH filed for approval with the [[Federal Reserve]] to purchase Financial General. This application was dismissed on February 16, 1979, due to opposition from Financial General's Maryland subsidiary, but a new application was submitted later.

In a lawsuit filed March 18, 1978, the [[Securities and Exchange Commission]] charged Lance with violations of federal securities' law, and BCCI's application to purchase Financial General Bankshares was denied. Abedi then formed a new takeover vehicle, Credit and Commerce American Holdings (CCAH), based in the Netherlands Antilles. The largest investor in CCAH was Kamal Adham, who put up $13 million of his own money On October 19, 1978, CCAH filed for approval with the [[Federal Reserve]] to purchase Financial General. This application was dismissed on February 16, 1979, due to opposition from Financial General's Maryland subsidiary, but a new application was submitted later.

The Federal Reserve finally approved the purchase in on April 19, 1982, and BCCI renamed the bank "First American" three months later. Clark Clifford was made chairman and Robert Altman president. The head of Bank Supervision at the Federal Reserve when BCCI's purchase was approved was Jack Ryan, who later became head of the [[Resolution Trust Corporation]], in which role he denied Rep. Jim Leach's requests, as Chairman of the House Banking Committee, for documents related to [[Jim McDougal]]'s [[Madison Guaranty Savings]] in the [[Whitewater investigation]].

The Federal Reserve finally approved the purchase in on April 19, 1982, and BCCI renamed the bank "First American" three months later. Clark Clifford was made chairman and Robert Altman president. The head of Bank Supervision at the Federal Reserve when BCCI's purchase was approved was Jack Ryan, who later became head of the [[Resolution Trust Corporation]], in which role he denied Rep. Jim Leach's requests, Chairman of the House Banking Committee, for documents related to [[Jim McDougal]]'s [[Madison Guaranty Savings]] in the [[Whitewater investigation]].

==American branch==

==American branch==