Bank
Regulatory News
August 2004
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August 13, 2004 - Securities Law Violations: Unregistered
Securities and Unlicensed Security Sales - The Office of the
Comptroller of the Currency has received information regarding
enforcement actions taken by multiple state regulatory authorities
against the above-referenced entity for the sale of unregistered
securities using unlicensed persons.
Press Release:
www.occ.treas.gov/ftp/alert/2004-18.txt
Attachment:
www.occ.treas.gov/ftp/alert/2004-18a.pdf
August 13, 2004 - Robert Young Appointed to St. Louis Fed's Little
Rock Branch Board - Robert A. Young III, chairman, president and
CEO of Arkansas Best Corporation in Fort Smith, Ark., has been
appointed by the executive committee of the Federal Reserve Bank
of St. Louis' board of directors to fill an unexpired term on the
Reserve Bank's Little Rock Branch board.
www.stlouisfed.org/news/releases/2004/08_13_04.htm
August 13, 2004 - The Federal Deposit Insurance Corporation today
issued notices and orders of suspension and prohibition against
two individuals pursuant to Section 8(g) of the Federal Deposit
Insurance Act.
www.fdic.gov/news/news/press/2004/pr8204.html
August 13, 2004 - The Federal Deposit Insurance Corporation today
released a list of orders of administrative enforcement actions
taken against banks and individuals in June. No administrative
hearings are scheduled for August.
www.fdic.gov/news/news/press/2004/pr8104.html
August 12, 2004 - O'Hare Expansion and House Prices Discussed in
Economic Perspectives - The average value of home prices near
O'Hare airport will increase by as much as $17,000 between 1997 and
the time after airport expansion, according to Daniel P. McMilllen
in an article featured in the latest Economic Perspectives.
www.chicagofed.org/news_and_conferences/news/2004_08_12_ohare_expansion_and_house_prices_in_
latest_economic_perspectives.cfm
August 12, 2004 - National Credit Union Administration Places
Appalachian Development Federal Credit Union into Liquidation
www.ncua.gov/news/press_releases/2004/NR04-0812.htm
August 12, 2004 - The Office of Thrift Supervision announced today
it is issuing a final rule, to be effective October 1, 2004,
modifying the existing "small institution" test for thrifts under
the Community Reinvestment Act.
www.ots.treas.gov/docs/7/77431.html
August 12, 2004 - The Office of Thrift Supervision announced today
the submission of an amicus curiae brief by OTS and five other
federal agencies in support of an appeal of a June 30, 2004,
California Federal District Court decision upholding provisions of
a California law that impose restrictions on the sharing of a
customer's information between a financial institution and its
affiliates.
www.ots.treas.gov/docs/7/77430.html
August 12, 2004 - Asset-Backed Commercial Paper Description: Final
Rule - This bulletin transmits a final rule on asset-backed
commercial paper programs published in the Federal Register on
July 28, 2004.
Press Release:
www.occ.treas.gov/ftp/bulletin/2004-36.txt
Attachment:
www.occ.treas.gov/fr/fedregister/69fr44908.pdf
August 12, 2004 - OCC Allows National Bank Offices Affected by
Hurricanes Bonnie and Charley to Close - The Office of the
Comptroller of the Currency today issued a proclamation allowing
national bank offices affected by Hurricanes Bonnie and Charley to
close at their discretion.
Press Release:
www.occ.treas.gov/scripts/newsrelease.aspx?Doc=GHMPEIPR.xml
Attachment:
www.occ.treas.gov/ftp/release/2004-65a.pdf
August 12, 2004 - FRB - Minutes of the Federal Open Market
Committee June 29-30, 2004.
www.federalreserve.gov/FOMC/MINUTES/20040630.htm
August 12, 2004 - Governor Susan Schmidt Bies Corporate Governance
and Risk Management at Community Banks At the Federal Reserve Bank
of Chicago Community Bank Directors Conference, Chicago, Illinois
www.federalreserve.gov/boarddocs/speeches/2004/200408122/default.htm
August 12, 2004 - Governor Edward M. Gramlich Rules for Assessing
Social Security Reform At the Retirement Research Consortium
Annual Conference, Washington, D.C.
www.federalreserve.gov/boarddocs/speeches/2004/20040812/default.htm
August 12, 2004 - The Federal Reserve Board on Thursday published
its annual adjustment of the dollar amount that triggers
additional disclosure requirements under the Truth in Lending Act
for home mortgage loans that bear rates or fees above a certain
amount.
www.federalreserve.gov/boarddocs/press/bcreg/2004/20040812/default.htm
August 11, 2004 - NCUA - Letter to Corporate Credit Unions 2004-03
- Critical Information System Risk Areas.
www.ncua.gov/CorporateCU/CorpLetters/2004/2004-03.pdf
August 10, 2004 - FOMC statement; and Board approval of discount
rate requests of the Federal Reserve Banks of Boston, New York,
Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis,
Minneapolis, Kansas City, Dallas, and San Francisco
www.federalreserve.gov/boarddocs/press/monetary/2004/20040810/default.htm
August 9, 2004 - Unauthorized Banking: Bank of NG, N.A.,
Fictitious Internet Bank - The Office of the Comptroller of the
Currency has identified a Web site claiming to be associated with
a national bank named Bank of NG, N.A. Neither the OCC nor any
state banking authority has authorized the subject entity to
operate as a bank.
www.occ.treas.gov/ftp/alert/2004-17.txt
August 9, 2004 - Limited Network Connections and the Distribution
of Wages Kenneth J. Arrow and Ron Borzekowski - It is well-known
that 50% or more of all jobs are obtained through informal
channels i.e. connections to family or friends. As well,
statistical studies show that observable individual factors
account for only about 50% of the very wide variation in earnings.
www.federalreserve.gov/pubs/feds/2004/200441/200441pap.pdf
August 9, 2004 - The Scope of Monetary Policy Actions Authorized
under the Federal Reserve Act David H. Small and James A. Clouse -
The Federal Reserve Act authorizes the Federal Reserve to
undertake various types of discount window loans and open market
operations. While the Federal Reserve generally has not found it
necessary to use all types of such authority, there could be
circumstances in which the Federal Reserve might need to consider
utilizing its statutory authority more broadly than it has in the
past.
www.federalreserve.gov/pubs/feds/2004/200440/200440pap.pdf
August 9, 2004 - Integrating Expenditure and Income Data: What To
Do With the Statistical Discrepancy? J. Joseph Beaulieu and Eric
J. Bartelsman - The purpose of this paper is to build consistent,
integrated datasets to investigate whether various disaggregated
data can shed light on the possible sources of the statistical
discrepancy.
www.federalreserve.gov/pubs/feds/2004/200439/200439pap.pdf
________________
August 6, 2004 - NCUA - Matz Schedules PALS Workshop on "Serving the
Underserved Without Losing Your Bottom Line" - NCUA Board Member
Debbie Matz has scheduled a free Partnering and Leadership Successes
(PALS) workshop for October 11 in Rochester, N.Y., to focus on
"Serving the Underserved Without Losing Your Bottom Line."
www.ncua.gov/news/press_releases/2004/NR04-0806.htm
August 6, 2004 - FRB Statistical Release - G.19 Consumer Credit
www.federalreserve.gov/releases/g19/current/default.htm
August 6, 2004 - Joint Interim Rule Regarding Community Reinvestment
Act Regulation (Part 345 of the FDIC's Rules and Regulations.) The
FDIC and other financial institution regulatory agencies are seeking
comment on the joint interim rule that implements technical changes
to regulations implementing the Community Reinvestment Act.
www.fdic.gov/news/news/financial/2004/fil9104.html
August 5, 2004 - Job Creation Examined in September Fed Letter - Job
growth seems to be occurring in high- and low-wage sectors in a
fairly typical way given where the economy is in the employment
cycle, according to Chicago Fed Senior Economist Dan Aaronson and
Associate Economist Sara Christopher in the September Chicago Fed
Letter
www.chicagofed.org/news_and_conferences/news/2004_08_05_job_creation_examined_in_september_fed_letter.cfm
August 5, 2004 - FDIC Issues August List of Banks Examined for CRA
Compliance - The Federal Deposit Insurance Corporation today issued
its monthly list of state nonmember banks recently evaluated for
compliance with the Community Reinvestment Act. The list covers
evaluation ratings that the FDIC assigned to institutions in May
2004.
www.fdic.gov/news/news/press/2004/pr8004.html
August 5, 2004 - The Federal Reserve Board on Thursday announced
that it is conducting a study on the adequacy of investigations of
disputed consumer information reported to consumer reporting
agencies.
www.federalreserve.gov/boarddocs/press/bcreg/2004/20040805/default.htm
August 5, 2004 - The Federal Reserve Board on Thursday announced its
approval of the notice filed by Popular, Inc., San Juan, Puerto
Rico, and its wholly owned subsidiaries, Popular International Bank,
Inc., also in San Juan, and Popular North America, Inc., Mt. Laurel,
New Jersey, to acquire Quaker City Bancorp, Inc., and its wholly
owned subsidiary, Quaker City Bank, a federally chartered savings
association, both in Whittier, California; and the application filed
by Banco Popular North America, New York, New York, to merge with
Quaker City Bank.
www.federalreserve.gov/boarddocs/press/orders/2004/20040805/default.htm
August 5, 2004 - The National Credit Union Administration announced
today that NCUA Chairman JoAnn Johnson and U.S. House Committee on
Financial Services Chairman Michael G. Oxley will host a Chairman's
Forum for credit unions in Ohio.
www.ncua.gov/news/press_releases/2004/NR04-0805-2.htm
August 5, 2004 - The National Credit Union Administration has issued
Orders of Prohibition that prohibit each of the following
individuals from participating in any manner in the affairs of any
federally insured financial institution
www.ncua.gov/news/press_releases/2004/NR04-0805.htm
August 3, 2004 - National Credit Union Administration Issues
Prohibition Orders - The National Credit Union Administration has
issued Orders of Prohibition that prohibit both of the following
individuals from participating in any manner in the affairs of any
federally insured financial institution.
http://www.ncua.gov/news/press_releases/2004/NR04-0804.htm
August 3, 2004 - "Related Organizations," a booklet in the
Comptroller's Handbook series, helps bankers and examiners to
understand the risks of relationships with entities such as
affiliates and subsidiaries.
www.occ.treas.gov/handbook/RelatedOrg.pdf
August 3, 2004 - The Federal Reserve Board on Tuesday announced its
approval of the application filed by Gateway Bank & Trust Co.,
Elizabeth City, North Carolina, to acquire three branches of
Provident Bank of Maryland, Baltimore, Maryland. These branches are
in Elizabeth City, North Carolina, and Emporia and Suffolk, both in
Virginia.
www.federalreserve.gov/boarddocs/press/orders/2004/20040803/default.htm
August 2, 2004 - The Federal Reserve Bank of Kansas City, in
conjunction with the other Reserve Banks throughout the nation,
today announced a further streamlining of its check-processing
services that will result in the Denver branch serving as a
consolidation site that will begin processing checks currently
handled by the Federal Reserve Bank of San Francisco's branch in
Salt Lake City.
www.kc.frb.org/pubaffrs/pressrel/pr04-09.htm
August 2, 2004 - The Federal Reserve Bank of Kansas City, in
conjunction with the other Reserve Banks throughout the nation,
today announced a further streamlining of its check-processing
services that will result in the shifting of the check-processing
operation at its Oklahoma City branch office to Dallas.
www.kc.frb.org/pubaffrs/pressrel/pr04-08.htm
August 2, 2004 - The Federal Reserve Board on Monday announced the
execution of a Written Agreement by and among the Traders Bank, A
Banking Corporation, Spencer, West Virginia; the West Virginia
Division of Banking, Charleston, West Virginia; and the Federal
Reserve Bank of Richmond.
www.federalreserve.gov/boarddocs/press/Enforcement/2004/20040802/default.htm
August 2, 2004 - NCUA - Opinion Letter 04-0606 - 2003 Wisconsin Act
257
www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2004/04-0606.pdf
August 2, 2004 - NCUA - Opinion Letter 04-0515 - Overdrawing an
Account to Enforce a Statutory Lien
www.ncua.gov/RegulationsOpinionsLaws/opinion_letters/2004/04-0515.htm
August 2, 2004 - FRB Statistical Release - G.5 Foreign Exchange
Rates (Monthly)
www.federalreserve.gov/releases/g5/current/default.htm
August 2, 2004 - Federal Reserve Banks Announce Changes to Increase
Efficiency in Check Services as Shift from Check to Electronics
Continues - The Federal Reserve Banks today announced further
changes to increase the efficiency of their check-processing
operations while maintaining high-quality services to depository
institutions throughout the country.
www.federalreserve.gov/boarddocs/press/other/2004/20040802/default.htm |
