Bank Regulatory News
April 2002
April 30, 2002 - NCUA - Legal Opinion Letter 02-0269 -- Re: Guaranteeing
Deposits
www.ncua.gov/ref/opinion_letters/02-0269.html
April 30, 2002 - Specially
Designated Nationals and Blocked Persons - On April 19, 2002, the Department of the Treasury's Office of Foreign
Assets Control amended its listing of Specially Designated Nationals and Blocked
Persons by adding ten names of Specially Designated Global Terrorists.
www.fdic.gov/news/news/financial/2002/fil0240.html
April 30, 2002 - OTS Signs Information Sharing Pact With Oregon Insurance
Regulator - Oregon became the 45th state during the last two years to sign an
information sharing agreement between state insurance regulators and the Office
of Thrift Supervision, and the National Association of Insurance Commissioners
announced today.
www.ots.treas.gov/docs/77224.html
April 30, 2002 - OTS Releases March Enforcement Statistics - The Office of
Thrift Supervision (OTS) today reported that it issued six enforcement orders to
three individuals and three institutions during March 2002. OTS also terminated
two orders previously issued to two institutions.
www.ots.treas.gov/docs/77225.html
April 29, 2002 - Financial Holding Companies - Following is a list of those
companies whose elections to become or be treated as financial holding companies
are effective. The list includes only the top-tier holding company in each
organization.
www.federalreserve.gov/generalinfo/fhc/
April 29, 2002 - FDIC Makes Public March Enforcement Actions; One Administrative
Hearing Scheduled - The Federal
Deposit Insurance Corporation (FDIC) today released a list of orders of
administrative enforcement actions taken against banks and individuals in March.
One administrative hearing is scheduled for May.
www.fdic.gov/news/news/press/2002/pr4802.html
April 29, 2002 - Circulation of Fictitious IRS Forms and Bank Letters - The
Federal Deposit Insurance Corporation (FDIC) is alerting you that some of your
customers may be the unwitting subjects of a new fraud scheme that uses
fictitious Internal Revenue Service (IRS) forms and fraudulent bank
correspondence.
www.fdic.gov/news/news/financial/2002/fil0239.html
April 29, 2002 - NCUA - Buckham Named Director of Office of Corporate
Credit Unions - The National Credit Union Administration today announced the
selection of Kent D. Buckham to the position of director of the Office of
Corporate Credit Unions
www.ncua.gov/news/press_releases/nr042902.html.
___________________________
April 26, 2002 - The Federal Reserve Board on Friday
announced the issuance of a consent Order of Assessment of a Civil Money
Penalty against the Community Bank of Granbury, Granbury, Texas, a state
member bank.
www.federalreserve.gov/boarddocs/press/Enforcement/2002/20020426/default.htm
April 26, 2002 - Productivity, Innovation, Education Key to Better Living
Standards: Says St. Louis Fed's Poole - Keeping U.S. living standards high
depends mainly on continuing three trends: an improving productivity rate,
an entrepreneur-friendly climate that fosters innovation, and strong,
widely available higher education.
www.stls.frb.org/general/releases/rel02/nr0425.html
April 25, 2002 - OTS Releases February Enforcement Statistics - The Office
of Thrift Supervision (OTS) today reported that it issued four enforcement
orders to two individuals and two institutions during the month of
February, 2002. OTS also terminated four orders previously issued to three
institutions. The orders were:
www.ots.treas.gov/docs/77223.html
April 25, 2002 - FDIC Report Discusses Challenges Bank Mortgage Lenders
May Face If Interest Rates Rise -
The profitability of the
nation's residential mortgage lending specialists has become more exposed
to the effects of a rising interest rate scenario that would compress net
interest margins and suppress noninterest revenues associated with
mortgage production and sales, according to a report released today by the
Federal Deposit Insurance Corporation.
www.fdic.gov/news/news/press/2002/pr4702.html
April 25, 2002 - Alert Regarding Bank Investment Securities And
Custodial Accounts Held At Securities Broker-Dealers - The Federal Deposit Insurance Corporation (FDIC) is alerting you to
concerns it has identified regarding bank custodial relationships with
failed broker-dealers.
www.fdic.gov/news/news/financial/2002/fil0238.html
April 25, 2002 - Notice of Proposed Rulemaking - The Office of the
Comptroller of the Currency published the attached notice of proposed
rulemaking in the Federal Register on April 25, 2002 (NPRM).
The NPRM amends 12 CFR part 8 of its regulations regarding
assessments for independent trust banks to update section 8.6 to reference
the appropriate portion of new forms issued by the Federal Financial
Institutions Examination Council (FFIEC) which replace the FFIEC form
currently referenced in section 8.6(c).
Press Release - www.occ.treas.gov/ftp/bulletin/2002-15.txt
Attachment - www.occ.treas.gov/ftp/bulletin/2002-15a.pdf
April 25, 2002 - Identity Theft: Organized Gang and Teller Collusion
Schemes - The Office of the Comptroller of the Currency (OCC) has been
advised of fraud schemes involving organized gangs and newly hired bank
tellers. Organized gangs are
aggressively recruiting bank tellers to cash forged
savings account withdrawals from customer accounts, and to cash stolen
United States Treasury checks.
www.occ.treas.gov/ftp/alert/2002-4.txt
April 24, 2002 - Is there still an investment
overhang , and if so, should we worry about it? - Some sectors of the
economy may still have excess investment in capital goods, or overhang,
leading to below-trend growth in the near future, according to new
research featured in the latest Chicago Fed Letter.
www.chicagofed.org/newsandevents/pressreleases/2002/pr04242002.cfm
April 24, 2002 - Chicago Fed Announces
Official Promotions - The Federal Reserve Bank of Chicago today announced
that its Board of Directors has approved the promotion of five Vice
Presidents for the Bank.
www.chicagofed.org/newsandevents/pressreleases/2002/pr04242002II.cfm
April 24, 2002 - FDIC Seeks
Ideas on Reducing Burden on Banks and the Public, While Improving the
FDIC's Efficiency - One
of my top priorities as Chairman of the Federal Deposit Insurance
Corporation is to ensure that the FDIC is as efficient as it can be in its
roles as supervisor and insurer of financial institutions. I am
particularly interested in ways the FDIC can reduce burden on financial
institutions and the public. To that end, we have been busy identifying
ways to focus our time on important areas of risk.
www.fdic.gov/news/news/financial/2002/fil0236.html
April 24, 2002 - Entities That May Be Conducting Banking Operations In
the United States Without Authorization - The Office of the
Comptroller of the Currency (OCC) has advised us that the following entity
may be conducting banking business in the United States without
authorization:
www.fdic.gov/news/news/financial/2002/fil0237.html
April 24, 2002 – NCUA - Matz Meets with Wisconsin League –
Reconfirms Commitment to Dual Chartering and Stresses the Importance of
Serving All Members - NCUA Board Member Deborah Matz reaffirmed her
commitment to the dual chartering system today in discussions with
Wisconsin Credit Union League members who represent primarily
state-chartered credit unions.
www.ncua.gov/news/press_releases/adv042402.html
April 23, 2002 - Agencies Outline Risks of Parallel-Owned Banking
Organizations - The federal bank and thrift regulatory agencies
today issued guidance that reviews the risks of parallel-owned banking
organizations. The guidance sets forth an approach for supervising those
risks.
Press Release - www.federalreserve.gov/boarddocs/press/General/2002/20020423/default.htm
Press Release - www.fdic.gov/news/news/press/2002/pr4602.html
Press Release - www.fdic.gov/news/news/financial/2002/fil0235.html
Press Release - http://www.occ.treas.gov/ftp/bulletin/2002-14.txt
Attachment - www.occ.treas.gov/ftp/bulletin/2002-14a.pdf
Press Release - www.occ.treas.gov/ftp/release/2002-37.txt
Attachment - www.occ.treas.gov/ftp/release/2002-37.pdf
Press Release - www.ots.treas.gov/docs/77222.html
April 23, 2002 - Testimony of
Chairman Alan Greenspan - Federal deposit insurance reform - Before
the Committee on Banking, Housing, and Urban Affairs, U.S. Senate
April 23, 2002
www.federalreserve.gov/boarddocs/testimony/2002/20020423/
April 23, 2002 - Comptroller Hawke Urges Senate to End Inequitable
Treatment of National Banks - Comptroller of the Currency John D. Hawke,
Jr. told a Senate panel today that Congress should address the unfair
disparity in the fees paid by national and state chartered banks as part
of any legislation on deposit insurance reform.
www.occ.treas.gov/ftp/release/2002-38.txt
www.occ.treas.gov/ftp/release/2002-38a.txt
www.occ.treas.gov/ftp/release/2002-38b.txt
April 23, 2002 – NCUA - Matz Encouarges Credit Unions to Partner with
Community Groups - NCUA Board
Member Deborah Matz urged Texas credit unions April 22 to partner with
community services groups, such as the Neighborhood Reinvestment
Corporation and local NeighborWorks Programs, because these groups perform
services for people of modest means who can benefit from credit union
contributions and assistance.
www.ncua.gov/news/press_releases/nr042302.html
April 23, 2002 – NCUA - Guidelines for the Supervisory Review Committee
- This policy statement amends Interpretive Ruling and Policy Statement (IRPS)
95-1 to add Regulatory Flexibility Program issues to the list of material
supervisory determinations that credit unions may appeal to NCUA’s
Supervisory Review Committee.
www.ncua.gov/ref/IRPS/IRPS02-1.html
April 22, 2002 - The Federal Reserve Board today announced its approval of
the applications by Charter One Financial, Inc., Cleveland, Ohio, and
Charter-Michigan Bancorp, Inc., Dearborn, Michigan, to acquire Charter One
Bank, N.A., Cleveland, Ohio.
www.federalreserve.gov/boarddocs/press/BHC/2002/20020422/default.htm
April 22, 2002 - FDIC Adopts Final Policy Statement on Minority
Depository Institutions - The Federal Deposit Insurance Corporation
(FDIC) has adopted the attached final Policy Statement Regarding Minority
Depository Institutions.
www.fdic.gov/news/news/financial/2002/fil0234.html
April 22, 2002 - OTS Proposes Revisions to Parity Act Regulations - The
Office of Thrift Supervision (OTS) announced today that it is proposing to
remove prepayment and late fee rules from the list of OTS regulations that
preempt state law under the Alternative Mortgage Transaction Parity Act.
www.ots.treas.gov/docs/77221.html
April 22, 2002 – NCUA - Closed Board Meeting – April 18, 2002 - The
Board approved an order of conservatorship for S.M.W. Local #110 Federal
Credit Union, which the credit union’s board of directors had requested
under Section 206(h)(1)(B) of the Federal Credit Union Act.
http://www.ncua.gov/news/board_reports/closedbab041802.html
_____________________
April 19, 2002 –NCUA - S.M.W.
Local #110 Federal Credit Union Placed Into Conservatorship -
The National Credit Union Administration (NCUA) Board has placed S.M.W.
Local #110 Federal Credit Union of Louisville, Ky., into
conservatorship at the credit union board’s request, with the goal
of continuing service to members at a safe and sound institution.
www.ncua.gov/news/press_releases/nr041902.html
April 19, 2002 - 2001 Annual Report - The Federal Reserve Bank of
Kansas City has published its 2001 annual report featuring a message
from President Thomas M. Hoenig focusing on the Federal Reserve's
response to the tragic events of September 11 and the regional Bank's
role in the Federal Reserve System.
www.kc.frb.org/pubaffrs/pressrel/pr02-08.htm
April 19, 2002 - The Federal Reserve Board today announced its
approval of the application by Chinatrust Financial Holding Company,
Ltd., Taipei, Taiwan, to become a bank holding company by indirectly
acquiring Chinatrust Bank (U.S.A.), Torrance, California.
www.federalreserve.gov/boarddocs/press/BHC/2002/20020419/default.htm
April 18, 2002 - FDIC And Operation Hope Sign Mou Agreement Promoting
Financial Education In Underserved Communities - The Federal
Deposit Insurance Corporation (FDIC) and Operation Hope, Inc.
announced today a pilot program to help strengthen communities across
America through financial education.
www.fdic.gov/news/news/press/2002/pr4502.html
April 18, 2002 – NCUA - Recent Final Rule -- 12 CFR Part 701 - Final
amendments on Chartering and Field of Membership (IRPS 02-2)
www.ncua.gov/news/proposed_regs/12CFRPart701-chartering-final.html
April 18, 2002 – NCUA - Statement of NCUA Board Member JoAnn Johnson
on Final Rule Repealing CAP Proposal
www.ncua.gov/news/press_releases/statement02-0418-2.html
April 18, 2002 – NCUA - Statement of Board Member Deborah Matz -
Board Meeting - Statement on Community Action Plan (CAP)
www.ncua.gov/news/press_releases/statement02-0418-3.html
April 18, 2002 – NCUA - Statement of NCUA Chairman Dennis Dollar On
Final Rule Repealing CAP Proposal
www.ncua.gov/news/press_releases/statement02-0418-1.html
April 18, 2002 – NCUA - OCUD Programs -The Office of Credit Union
Development is responsible for the administration of several programs
designed to establish, strengthen, and improve the operation of small
and low-income designated credit unions.
www.ncua.gov/org/orgchart/ocud/programs.html
April 18, 2002 - New Data Collection Offers Insight Into Noninterest
Income Activity At U.S. Banks - New
detail on commercial banks' noninterest income, added to their
quarterly financial reports in 2001, sheds light on the
fastest-growing component of banks' revenues, according to a report
released today by the Federal Deposit Insurance Corporation.
www.fdic.gov/news/news/press/2002/pr4402.html
April 17, 2002 - Testimony of
Chairman Alan Greenspan - Monetary policy and the economic
outlook - Before the Joint Economic Committee, U.S. Congress
www.federalreserve.gov/BoardDocs/Testimony/2002/20020417/default.htm
April 17, 2002 - International
Finance Discussion Papers - Equity
Prices, Household Wealth, and Consumption Growth in Foreign Industrial
Countries: Wealth Effects in the 1990s
www.federalreserve.gov/Pubs/IFDP/2002/724/default.htm
April 17, 2002 - Articles
from the Federal Reserve Bulletin April 2002 - Consumers and Credit Disclosures: Credit Cards
and Credit Insurance
www.federalreserve.gov/Pubs/Bulletin/2002/02bulletin.htm
April 17, 2002 - Chairman Powell's Statement On Passage Of Deposit
Insurance Reform Legislation By House Financial Services Committee
- "This is great
news. The House Committee passed a good bill today and we will
continue working to pass deposit insurance reform this year." Don
Powell, FDIC Chairman
www.fdic.gov/news/news/press/2002/pr4302.html
April 17, 2002 - Midwest
Economic Recovery Depends On Region's Manufacturing - Economists at a recent Federal
Reserve Bank of Chicago workshop forecast that the recovery of the
Midwest economy will depend on how well the region's manufacturing
sector improves, according to the May issue of the Chicago Fed Letter.
www.chicagofed.org/newsandevents/pressreleases/2002/pr04172002.cfm
April 16, 2002 - Miles
White Appointed To Board Of Directors Of Federal Reserve Bank Of
Chicago - Miles D. White, chairman of the board and chief
executive officer of Abbott Laboratories, has been appointed to a
three-year term on the board of directors of the Federal Reserve Bank
of Chicago, it was announced today.
www.chicagofed.org/newsandevents/pressreleases/2002/pr04162002.cfm
April 16, 2002 - OCC Announces 12 New Enforcement Actions and 2
Terminations - The Office of the Comptroller of the Currency today
announced 12 new enforcement actions taken against national banks and
individuals currently and formerly affiliated with national banks and
2 terminations of existing enforcement actions.
www.occ.treas.gov/ftp/release/2002-36.txt
April 16, 2002 - NCUA Letter
to Federal Credit Unions 02-FCU-04 -- Weblinking Relationships -Electronic
Financial Services (Part 721.3(c)) - authorizes FCUs to offer
through electronic means any services, products, functions, or
activities that a credit union could otherwise perform, provide, or
deliver to members
www.ncua.gov/ref/letters/02-FCU-04.html
April 16, 2002 - OCC Releases CRA Evaluations For 27 National Banks -
The Office of the Comptroller of the Currency today released a list of
Community Reinvestment Act performance evaluations that became public
during the period of March
15 through April 14,
2002.
www.occ.treas.gov/ftp/release/2002-35.txt
April 15, 2002 - OTS Updates Thrift Holding Companies Handbook - The
Office of Thrift Supervision (OTS) today announced publication of an
updated Holding Companies Handbook for thrifts.
www.ots.treas.gov/docs/77220.html
April 15, 2002 - FDIC And Neighborhood Reinvestment Corporation
Announce
Program To Promote Financial Education And Homeownership - The
Federal Deposit Insurance Corporation and the Neighborhood
Reinvestment Corporation announced today a pilot program to help
revitalize communities across America through financial
education.
www.fdic.gov/news/news/press/2002/pr4202.html
April 11, 2002 - NCUA - Chairman
Dollar Calls For Greater Development Of
Latino And Hispanic Credit Union Service - NCUA Chairman Dennis
Dollar told over 200 credit union leaders attending the 2nd
annual Latino Credit Union Conference sponsored by the National
Federation of Community Development Credit Unions here today that
extending credit union access to more Latino and Hispanic communities
was a top priority at the National Credit Union Administration.
www.ncua.gov/news/press_releases/nr041102-2.html
________________
April 11, 2002 - Gilleran Announces OTS Restructuring Plans
- Office of Thrift Supervision Director James E. Gilleran announced today that
he has begun implementing a restructuring plan designed to achieve greater
operating efficiencies and consistency of regulation for the thrift industry.
www.ots.treas.gov/docs/77219.html
April 11, 2002 - OTS Announces 21 March CRA Ratings - The Office of Thrift
Supervision today announced savings associations' Community Reinvestment Act
performance evaluation ratings that became available in March 2002.
www.ots.treas.gov/docs/77218.html
April 11, 2002 – NCUA-Chairman Releases Study On Deposit Insurance Reform
Legislation, Says Agency Favors Coverage Parity For Credit Unions But Impact On
NCUSIF Ratio Would Be Felt - Equity Ratio Reduction From Increased Coverage
Not Likely To Require Premium, Could Delay Dividends For At Least Two Years If
Proposed Legislation Enacted
Press Release: www.ncua.gov/news/press_releases/nr041102.html
Attachment: www.ncua.gov/ref/special/NCUADepositInsuranceSystemLegislationAnalysis.pdf
April 11, 2002 - Summary of “Lessons
Learned” and Implications for Business Continuity February 13, 2002 -
Discussion note prepared by staffs of the Federal Reserve, the New York State
Banking Department, the Office of the Comptroller of the Currency, and the
Securities and Exchange Commission, for discussion at a meeting on February 26,
2002 at the Federal Reserve Bank of New York.
www.occ.treas.gov/netbank/discussionnote.pdf
April 11, 2002 - Risk-Based Capital - This bulletin transmits the final rule,
"Risk-Based Capital Standards: Claims on Securities Firms" that was
published in the Federal Register on April 9, 2002.
Press Release: www.occ.treas.gov/ftp/bulletin/2002-13.txt
Attachment: http://www.occ.treas.gov/ftp/bulletin/2002-13a.pdf
April 11, 2002 - The Federal Reserve Board today announced its approval of the
application by SinoPac Holdings, Taipei, Taiwan, to become a bank holding
company by indirectly acquiring Far East National Bank (U.S.A.), Los Angeles,
California.
www.federalreserve.gov/boarddocs/press/BHC/2002/20020411/default.htm
April 10, 2002 - OCC Chief Counsel Julie L. Williams Underscores Major Increase
In the Beneficial Relationships Between Banks and CDCs - Bank involvement with
Community Development Corporations has increased significantly in recent years,
Julie L. Williams, First Senior Deputy Comptroller and Chief Counsel, said in a
speech today.
www.occ.treas.gov/ftp/release/2002-34.txt
April 9, 2002 - Agencies issue final rule lowering risk weighting for claims
on securities firms - The federal banking agencies today issued a final rule
amending their risk-based capital standards for banks, bank holding companies
and savings associations (institutions) to reduce the risk weight applied to
claims on, or guaranteed by, qualifying securities firms.
Press Release: www.federalreserve.gov/boarddocs/press/BoardActs/2002/20020409/
Press Release: www.fdic.gov/news/news/financial/2002/fil0231.html
Press Release: http://www.ots.treas.gov/docs/77217.html
Press Release: www.occ.treas.gov/ftp/release/2002-33.txt
OCC Attachment: www.occ.treas.gov/ftp/release/2002-33a.pdf
April 9, 2002 - Proposals for Comment
- The following proposals were recently made available for public comment.
Comments may be submitted to the Federal Reserve via the web using the links
below. Comments may also be submitted in writing or via electronic mail (see the
text of the proposal for contact details).
www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm
April 8, 2002 - Remarks by John D. Hawke, Jr., Comptroller of the Currency,
Before the Consumer Bankers Association, Arlington, Virginia - Financial
Literacy: A Key to New Banking Markets
www.occ.treas.gov/ftp/release/2002-32a.txt
April 8, 2002 - Comptroller Outlines The Benefits Of Financial Literacy Programs
- Financial education programs can be critical to combating predatory lending,
to reaching the unbanked and to meeting the needs of the underbanked,
Comptroller of the Currency John D. Hawke said today.
www.occ.treas.gov/ftp/release/2002-32.txt
April 8, 2002 - Gilleran Announces New Proposal for Enhancing the Mutual Thrift
Charter - As part of an on-going, comprehensive review of the treatment of
mutual thrifts, the Office of Thrift Supervision
is proposing rule changes governing mutual thrifts, mutual holding
companies and mutual-to-stock conversions.
www.ots.treas.gov/docs/77216.html
April 5, 2002 - Supervisory Staff Reports - From time to time, staff members of
the Board and the Reserve Banks will undertake a study of a particular banking
activity or an issue of importance to the banking industry for a better
understanding of industry practices and potential supervisory and regulatory
implications.
www.federalreserve.gov/boarddocs/staffreports/default.htm
________________
April 5, 2002 - WARNING--Circulation of Fictitious IRS
Formsand Bank Letters - Attached are samples of a fictitious document that
is not a genuine IRS Form and a fraudulent letter addressed to a bank
customer purporting to be from the customer's bank.
News Release: www.occ.treas.gov/ftp/alert/2002-3.txt
Attachment: www.occ.treas.gov/ftp/alert/2002-3a.pdf
Attachment: www.occ.treas.gov/ftp/alert/2002-3b.pdf
April 5, 2002 - FDIC Issues April List Of Banks Examined For CRA
Compliance - The Federal Deposit Insurance Corporation (FDIC) today issued
its monthly list of state nonmember banks recently evaluated for
compliance with the Community Reinvestment Act.
www.fdic.gov/news/news/press/2002/pr4002.html
April 5, 2002 - NCUA Chairman
Informs Credit Unions Regarding HUD Rural Housing and Economic Development
Program - National Credit Union Administration Chairman Dennis
Dollar informed credit unions this week that the U.S. Department of
Housing and Urban Development last week released a $25 million Notice of
Funds Availability for Rural Housing and Economic Development programs
which he believes may aid eligible and interested credit unions who choose
to apply in planning to develop unique programs for expanding affordable
housing and financial services.
www.ncua.gov/news/press_releases/nr040502.html
April 4, 2002 - OTS Announces Nine February CRA Ratings - The Office of
Thrift Supervision today announced savings associations' Community
Reinvestment Act (CRA) performance evaluation ratings that became
available in February 2002.
www.ots.treas.gov/docs/77215.html
April 4, 2002 - Recession's Mildness Due in Large Part to Better Monetary
Policy: St. Louis Fed's Poole - Early and sustained action by the Federal
Reserve's Federal Open Market Committee (FOMC) to reduce the federal funds
rate target played a key role in lessening the effects of the recent
recession, said William Poole, president of the Federal Reserve Bank of
St. Louis. Poole spoke at Lambuth University to students, faculty and
Jackson community leaders.
www.stls.frb.org/general/releases/rel02/nr0404.htm
April 4, 2002 - Annual
Report on the Freedom of Information Act
for Fiscal Year 2001 - The following information is submitted to
the U.S. Department of Justice by the Federal Open Market Committee of the
Federal Reserve System (FOMC) in accordance with the requirements of the
Freedom of Information Act (5 U.S.C. § 552), as amended in 1974 by Public
Law 93-502.
www.federalreserve.gov/generalinfo/foia/fomc_anrpt_2001.htm
April 3, 2002 - FFIEC Annual
Report for 2001
www.ffiec.gov/PDF/annrpt01.pdf
April 3, 2002 - The Federal Reserve Board on Wednesday issued revisions to
its Regulation Z (Truth in Lending) official staff commentary, which
applies and interprets the requirements of the regulation.
www.federalreserve.gov/boarddocs/press/BoardActs/2002/20020403/
April 3, 2002 - Marquette High Students Win First Place at District Fed
Challenge; Will Compete at Fed Challenge Finals in Washington, D.C. - A
team of five students from Marquette High School in Chesterfield, Mo.,
captured first place in the District contest of the Fed Challenge, an
economics competition sponsored by the Federal Reserve Bank of St. Louis.
www.stls.frb.org/general/releases/rel02/nr0403.htm
April 3, 2002 – NCUA - Southern New England Federal Credit Union to
Serve Members of Pirelli Federal Credit Union - The National Credit Union
Administration announced yesterday that the agency placed Pirelli Federal
Credit Union of New Haven, Conn. into liquidation and transferred all of
its members’ share accounts to Southern New England Federal Credit
Union, also of New Haven.
www.ncua.gov/news/press_releases/nr040302.html
April 2, 2002 - Does
"Relationship Lending" Protect Small Banks from Economic
Downturns - Even though most U.S. community banks do most of their
business in their own regions, a new analysis from the Federal Reserve
Bank of St. Louis suggests that those banks are able to withstand local
economic downturns.
www.stls.frb.org/general/releases/rel02/nr0402-2.htm
April 2, 2002 - For Love or Money: Why Married Men Make More - Do married
men make more money than single men because (a) employers are biased
toward married men, (b) marriage makes men more productive, or (c) highly
productive men are simply more likely to be married? That's the $64,000
question explored by two researchers at the Federal Reserve Bank of St.
Louis.
www.stls.frb.org/general/releases/rel02/nr0402-1.htm
April 2, 2002 – NCUA - Regulatory Relief - On August 10, 2001, the House
Committee on Financial Services Chairman Mike Oxley (R-OH) wrote NCUA
Chairman Dennis dollar requesting that NCUA provide the Committee with
suggestions that could be included in legislation that would lessen the
regulatory burden on insured depository institutions and improve
productivity.
www.ncua.gov/news/legislation/107-RegRelief.htm
April 2, 2002 - Molly Schar Joins National Credit Union Administration
Office of Public and Congressional Affairs - The National Credit Union
Administration (NCUA) announces the selection of Molly Schar to join the
Office of Public and Congressional Affairs (PACA) as writer-editor.
Schar assumed her position in late March.
www.ncua.gov/news/press_releases/nr040202.html
April 1, 2002 - Financial Holding
Companies - Under the Bank Holding Company Act, bank holding
companies may elect to be financial holding companies.
www.federalreserve.gov/generalinfo/fhc/default.htm
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