The E-mail Banking News
(Bank Regulatory News)
August 2012

August 31, 2012 - NCUA - Credit Unions Record Largest Quarterly Increase in Lending Since 2008 - Unions Record Largest Quarterly Increase in Lending Since 2008 - Membership Surpasses 93 Million as Number of Credit Unions Drops below 7,000 - The ongoing strengthening in the performance of federally insured credit unions continued in the second quarter of 2012, according to Call Report data submitted to and compiled by the National Credit Union Administration for the period ending June 30. www.ncua.gov/News/Pages/NW20120831CUsRecIncrease.aspx

August 31, 2012 - OCC Issues Fourth Quarter 2012 CRA Examination Schedule - The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act examinations to be conducted in the fourth quarter of 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-127.html

August 31, 2012 - FDIC Issues Fourth Quarter 2012 CRA Examination Schedule - The Federal Deposit Insurance Corporation has issued the public list of institutions that it has scheduled for a Community Reinvestment Act examination during the fourth quarter of 2012.  www.fdic.gov/news/news/press/2012/pr12101.html

August 31, 2012 - FDIC Makes Public July Enforcement Actions; No Administrative Hearings Scheduled for September 2012 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in July. No administrative hearings are scheduled for September 2012. www.fdic.gov/news/news/press/2012/pr12100.html

August 31, 2012 - Chairman Ben S. Bernanke - Monetary Policy since the Onset of the Crisis - At the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming.  www.federalreserve.gov/newsevents/speech/bernanke20120831a.htm

August 31, 2012 - The Federal Reserve Board on Friday announced its approval of the application by Old National Bancorp, Evansville, Indiana, to acquire Indiana Community Bancorp and its subsidiary bank, Indiana Bank and Trust Company, both of Columbus, Indiana. www.federalreserve.gov/newsevents/press/orders/20120831a.htm
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August 31, 2012 - FDIC Makes Public July Enforcement Actions; No Administrative Hearings Scheduled for September 2012 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in July. No administrative hearings are scheduled for September 2012. http://www.fdic.gov/news/news/press/2012/pr12100.html

August 30, 2012 - Federal Reserve Board issues enforcement action against MNB Holdings Corporation.   www.federalreserve.gov/newsevents/press/enforcement/20120830a.htm

August 29, 2012 - New Issue of Risk Perspectives Available - Federal Reserve Bank of Chicago's supervision group follows current and emerging risk trends. Recent issue of Risk Perspectives highlights risk monitoring in the Midwest. www.chicagofed.org/webpages/publications/risk_perspectives/2011_2014/2012_quarter_two.cfm

August 29, 2012 - NCUA Charters Lakota Federal Credit Uunion - 40,000 on South Dakota Reservation Gain Access to Financial Services - The Office of Consumer Protection at the National Credit Union Administration approved the second new federal credit union charter in 2012 today. Lakota FCU, a community credit union with a low-income designation, will serve the approximately 40,000 people who live, work, worship, volunteer, attend school, and transact business on the Pine Ridge Reservation in South Dakota. www.ncua.gov/News/Pages/NW20120829LakotaFCU.aspx

August 29, 2012 - NCUA Central Liquidity Facility and LICU Webinars Now Available Online - Recent webinars reviewing changes in the Central Liquidity Facility, the proposed rule on emergency liquidity, and the Low-Income Credit Union eligibility initiative are now available online, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20120828CLFWebinar.aspx

August 29, 2012 - NCUA - Webinar to Review Rules on Troubled Debt Restructuring, Workouts, and Nonaccruals - The National Credit Union Administration will host a free webinar-“Loan Workouts, Nonaccruals and Regulatory Reporting of Troubled Debt Restructuring”-Thursday, Sept. 20, beginning at 2:30 p.m. EDT. www.ncua.gov/News/Pages/NW20120829TDRWebinar.aspx 

August 29, 2012 - Federal Reserve Releases August Beige Book and Related Sound Clip - Audio highlights of the Federal Reserve's Beige Book, which summarize economic conditions for the United States as a whole and the Fed's Eighth District, are available for downloading. www.stlouisfed.org/newsroom/displayNews.cfm?article=1507

August 29, 2012 - Beige Book - Informal review by the Federal Reserve Banks of current economic conditions in their Districts.   www.federalreserve.gov/monetarypolicy/beigebook/beigebook201208.htm

August 28, 2012 - FDIC-Insured Institutions Earned $34.5 Billion in The Second Quarter of 2012 Loan Balances Increased by $102 Billion - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $34.5 billion in the second quarter of 2012, a $5.9 billion improvement from the $28.5 billion in profits the industry reported in the second quarter of 2011. This is the 12th consecutive quarter that earnings have registered a year-over-year increase. www.fdic.gov/news/news/press/2012/pr12099.html

August 28, 2012 - Minutes of the Board's discount rates meetings from July 2 through July 30, 2012.   www.federalreserve.gov/newsevents/press/monetary/20120828a.htm

August 27, 2012 - Estimating Changes in Supervisory Standards and Their Economic Effects - William F. Bassett, Seung Jung Lee, and Thomas W. Spiller - The disappointingly slow recovery in the U.S. from the recent recession and financial crisis has once again focused attention on the relationship between financial frictions and economic growth. www.federalreserve.gov/pubs/feds/2012/201255/201255pap.pdf

August 27, 2012 - The Aggregate Demand Effects of Short- and Long-Term Interest Rates - Michael T. Kiley - I develop empirical models of the U.S. economy that distinguish between the aggregate demand effects of short- and long-term interest rates-one with clear "microfoundations" and one more loosely motivated. www.federalreserve.gov/pubs/feds/2012/201254/201254pap.pdf

August 27, 2012 - Bank Capital Ratios and the Structure of Nonfinancial Industries - Seung Jung Lee and Viktors Stebunovs - We exploit variation in commercial bank capital ratios across states to identify the impact of commercial bank balance sheet pressures manifested through changes in capital ratios on employment in the manufacturing sector. www.federalreserve.gov/pubs/feds/2012/201253/201253pap.pdf

August 27, 2012 - Spending Within Limits: Evidence from Municipal Fiscal Restraints - Leah Brooks, Yosh Halberstam, and Justin Phillips - This paper studies the role of a constitutional rule new to the literature: a limit placed by a city on its own ability to tax or spend. We find that such a limit exists in at least 1 in 8 cities, and that limits are not adopted in response to high levels of or variability in taxation. www.federalreserve.gov/pubs/feds/2012/201252/201252pap.pdf

August 27, 2012 - Consolidation and Merger Activity in the United States Banking Industry from 2000 through 2010 - Robert M. Adams - This study investigates trends in consolidation and merger activity in the United States banking industry from 2000 through 2010. Over this period, the U.S. banking industry has consistently experienced over 150 mergers annually, with the largest banking organizations holding an increasing share of banking assets. www.federalreserve.gov/pubs/feds/2012/201251/201251pap.pdf

August 27, 2012 - The Impact of Tax Exlusive and Inclusive Prices on Demand - Naomi E. Feldman and Bradley J. Ruffle - We test the equivalence of tax-inclusive and tax-exclusive prices through a series of experiments that differ only in their handling of the tax. Subjects receive a cash budget and decide how much to keep and how much to spend on various attractively priced goods. www.federalreserve.gov/pubs/feds/2012/201250/201250pap.pdf

August 27, 2012 - Can Macro Variables Used in Stress Testing Forecast the Performance of Banks? - Luca Guerrieri and Michelle Welch - When stress tests for the banking sector use a macroeconomic scenario, an unstated premise is that macro variables should be useful factors in forecasting the performance of banks. www.federalreserve.gov/pubs/feds/2012/201249/201249pap.pdf

August 27, 2012 - Credit and Liquidity Programs and the Balance Sheet - August 2012 report.  www.federalreserve.gov/files/monthlyclbsreport201208.pdf

August 27, 2012 - The Federal Reserve Board on Monday began the practice of publishing unaudited combined Federal Reserve Bank financial reports on a quarterly basis. This enhancement to the Board's previous financial reporting procedures will provide greater transparency by communicating financial information on a more frequent basis and in greater detail. www.federalreserve.gov/newsevents/press/other/20120827a.htm

August 27, 2012 - The Federal Reserve Board is considering changes to the implementation timeline for the annual company-run stress test requirements required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The changes under consideration would delay implementation until September 2013 for bank holding companies, state member banks, and savings and loan holding companies with between $10 billion and $50 billion in total consolidated assets.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20120827b.htm
Press Release: www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-125.html
Press Release: www.fdic.gov/news/news/press/2012/pr12098.html

August 27, 2012 - Credit Risk in the Shared National Credit Portfolio Declines, but Remains High - The credit quality of large loan commitments owned by U.S. banking organizations, foreign banking organizations, and nonbanks improved in 2012 for the third consecutive year, according to the Shared National Credits Review for 2012. 
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20120827a.htm
Press Release: www.fdic.gov/news/news/press/2012/pr12097.html
Press Release: www.occ.gov/news-issuances/news-releases/2012/nr-ia-2012-124.html

August 24, 2012 - NCUA Charters Internet Archive FCU - ?First New Charter in 2012 to Offer Services to 135,000 in New Jersey - The Office of Consumer Protection at the National Credit Union Administration (NCUA) approved the first new federal credit union charter in 2012 today. Internet Archive FCU is a low-income designated, community credit union located in New Brunswick, N.J. www.ncua.gov/News/Pages/NW20120824NewFCUInternetArchive.aspx

August 24, 2012 - NCUA Posts Three New Economic Videos - Updates Focus on Recent Economic Trends, Stabilization Fund Assessments, and U.S. Financial Stability Oversight Council’s Annual Report - The National Credit Union Administration released the August economic update on the agency’s official “YouTube” channel today. The latest economic installment features three segments, making it easier for viewers to get the information relevant to them. www.ncua.gov/News/Pages/NW20120824EconomicVideos.aspx

August 24, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 23, 2012 - Dodd-Frank: Content, purpose, implementation status, and issues Douglas D. Evanoff and William F. Moeller - Douglas D. Evanoff is a vice president and senior research advisor for banking and financial institutions and William F. Moeller is a senior associate economist in the Economic Research Department of the Federal Reserve Bank of Chicago. - As financial regulation evolved over the past 80 years, it became common to introduce new legislation with the claim that “this is the most significant regulatory reform since the Great Depression and the Banking Act of 1933.”  http://www.chicagofed.org/digital_assets/publications/economic_perspectives/2012/3Q2012_part1_evanoff_moeller.pdf ___________________________________

August 23, 2012 - Dodd-Frank: Content, purpose, implementation status, and issues Douglas D. Evanoff and William F. Moeller - As financial regulation evolved over the past 80 years, it became common to introduce new legislation with the claim that “this is the most significant regulatory reform since the Great Depression and the Banking Act of 1933.”  www.chicagofed.org/digital_assets/publications/economic_perspectives/2012/3Q2012_part1_evanoff_moeller.pdf

August 23, 2012 - OCC Promotes Bank Financing to Expand Access to Healthy Food - The Office of the Comptroller of the Currency today published the latest edition of its Community Developments Investments electronic newsletter, titled "Bank Financing of Healthy-Food Initiatives." www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-123.html

August 23, 2012 - The Board has requested public comment on the proposals listed below. Comments can be submitted through this web site using the "Submit comment" links. Comments may also be submitted in writing or by electronic mail. www.federalreserve.gov/apps/foia/proposedregs.aspx

August 23, 2012 - Federal Reserve Board announces termination of enforcement action against Valley Financial Corporation and Valley Bank.   www.federalreserve.gov/newsevents/press/enforcement/20120823a.htm

August 22, 2012 - The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on July 31-August 1, 2012. www.federalreserve.gov/newsevents/press/monetary/20120822a.htm

August 20, 2012 - Economic Activity Increased in July - The Chicago Fed National Activity Index was -0.13 in July, up from -0.34 in June. www.chicagofed.org/digital_assets/publications/cfnai/2012/cfnai_august2012.pdf 

August 20, 2012 - NCUA - Fryzel Challenges Credit Unions to Hire One Thousand Veterans - Speaking to an audience of more than 200 credit union professionals at the Defense Credit Union Council’s 49th Annual Conference, National Credit Union Administration Board Member Michael E. Fryzel discussed the difficulties America’s veterans face when entering the civilian workforce and called on credit unions to help ease this burden.   www.ncua.gov/News/Pages/NW20120820Veterans.aspx

August 20, 2012 - FDIC Launches Alliance for Economic Inclusion Coalition in West Virginia - The Federal Deposit Insurance Corporation today launched an Alliance for Economic Inclusion initiative in West Virginia in partnership with the Appalachian Regional Commission , other state and federal agencies, financial institutions, and community-based stakeholders. www.fdic.gov/news/news/press/2012/pr12096.html

August 20, 2012 - Regulatory Reform - Communications with the public through August 20, 2012.  www.federalreserve.gov/newsevents/reform_meetings.htm

August 17, 2012 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals cur rently and formerly affiliated with national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-122.html

August 17, 2012 - Statistical Release - G.20 Finance Companies.  www.federalreserve.gov/releases/g20/current/g20.htm

August 17, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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August 16, 2012 - Second Quarter Midwest Farmland Values Still Up Despite Drought - Latest AgLetter reports farmland values in the second quarter of 2012 were 15 percent higher than a year ago. www.chicagofed.org/digital_assets/publications/agletter/2010_2014/august_2012.pdf

August 16, 2012 - OCC Proposes Annual Stress Test Reporting Requirements for Covered Institutions with Consolidated Assets of $50 Billion or More - The Office of the Comptroller of the Currency today published a notice of a proposed information collection for comment in the Federal Register regarding annual stress test reporting. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-121.html

August 16, 2012 - Federal Reserve Board issues enforcement action with PNBK Sponsor LLC, PNBK Investment Partners LLC, PNBK Holdings LLC, and Patriot National Bancorp, Inc. www.federalreserve.gov/newsevents/press/enforcement/20120816a.htm

August 15, 2012 - FDIC Consumer Newsletter Features Tips on Getting the Most From a Bank Account - Other topics include managing a mortgage and adding others to accounts.  www.fdic.gov/news/news/press/2012/pr12095.html

August 15, 2012 - Statistical Release - G.17 Industrial Production - Industrial production increased 0.6 percent in July after having risen 0.1 percent in both May and June. Revisions to the rates of change for recent months left the level of the index in June little changed from its previous estimate. Manufacturing output rose 0.5 percent in July, the same rate of increase as was recorded for June.  www.federalreserve.gov/releases/g17/current/

August 15, 2012 - Agencies Issue Proposed Rule on Appraisals for Higher-Risk Mortgages - Six federal financial regulatory agencies today issued a proposed rule to establish new appraisal requirements for "higher-risk mortgage loans." The proposed rule would implement amendments to the Truth in Lending Act enacted by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Under the Dodd-Frank Act, mortgage loans are higher-risk if they are secured by a consumer's home and have interest rates above a certain threshold.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20120815a.htm
Press Release: www.fdic.gov/news/news/press/2012/pr12094.html
Press Release: www.occ.gov/news-issuances/news-releases/2012/nr-ia-2012-120.html
Press Release: www.ncua.gov/News/Pages/NW2012060815HigherRiskMortgRule.aspx
Press Release: www.fdic.gov/news/news/financial/2012/fil12036.html

August 15, 2012 - Payment Systems - Quarterly data updates: Fedwire Funds Services, Fedwire Securities Services, and National Settlement Service.   www.federalreserve.gov/paymentsystems/default.htm

August 15, 2012 - NCUA Awards $1.4 Million in Grants to Small Credit Unions - Funding Supports Community Service, Training, Product Development Programs - More than 100 small credit unions across the country will improve service, provide training, and expand community outreach with the help of $1.4 million in technical assistance grants from the National Credit Union Administration.  www.ncua.gov/News/Pages/NW20120815Grants.aspx

August 14, 2012 - The three federal banking agency members of the FFIEC – the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency – announced today the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the Community Reinvestment Act.   www.ffiec.gov/press/pr081412.htm 

August 13, 2012 - OCC Chief Counsel Julie Williams Announces Retirement - Julie Williams, Chief Counsel of the Office of the Comptroller of the Currency, today announced she will step down on September 30, 2012 and plans to retire from federal service at the end of the year. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-119.html

August 13, 2012 - Chuck Kavanaugh Joins St. Louis Fed’s Real Estate Industry Council -Chuck Kavanaugh, executive vice president of Home Builders Association of Louisville, Louisville, Ky., has been named to the Real Estate Industry Council of the Federal Reserve Bank of St. Louis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1496

August 13, 2012 - Communications with the Public - The Federal Reserve Board will be involved in many rulemakings to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. During the rulemaking process, meetings will take place between the Board and the public--representatives of bank organizations, consumer groups, trade associations, researchers and academics--that allow the Board to gather information and help educate the public on matters subject to agency rulemaking. www.federalreserve.gov/newsevents/reform_meetings.htm

August 10, 2012 - Information Frictions and Housing Market Dynamics - Elliot Anenberg - This paper examines the effects of seller uncertainty over their home value on the housing market. Using evidence from a new dataset on home listings and transactions, I first show that sellers do not have full information about current period demand conditions for their homes. www.federalreserve.gov/pubs/feds/2012/201248/201248pap.pdf

August 10, 2012 - U.S. Real Interest Rates and Default Risk in Emerging Economies - Nathan Foley-Fisher and Bernardo Guimaraes - This paper empirically investigates the impact of changes in U.S. real interest rates on sovereign default risk in emerging economies using the method of identification through heteroskedasticity. Policy-induced increases in U.S. interest rates starkly raise default risk in emerging market economies.
www.federalreserve.gov/pubs/ifdp/2012/1051/ifdp1051.pdf

August 10, 2012 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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August 9, 2012 - Local Teachers Talk with Chairman Bernanke About Financial Literacy - About 30 local educators on Tuesday heard from Federal Reserve Chairman Ben Bernanke about the importance of personal finance education in the wake of the financial crisis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1495

August 9, 2012 - Federal Reserve Board announces termination of enforcement action against Coastal Financial Corporation and Coastal Community Bank.   www.federalreserve.gov/newsevents/press/enforcement/20120809a.htm

August 9, 2012 - NCUA - United Catholic Credit Union Closes - ?Member Deposits Protected up to $250,000; Consumer Service Hotline Open - The Michigan Office of Financial Insurance Regulation today closed United Catholic Credit Union of Temperance, Mich., and appointed the National Credit Union Administration (NCUA) as liquidating agent. www.ncua.gov/News/Pages/NW20120809UCCO.aspx

August 9, 2012 - NCUA: Video Tellers Can Function as “Service Facilities” - Opinion Notes Technology Will Improve Access, Keep Credit Unions Competitive - Credit unions that want to offer consumers more service options through video teller machines can consider the new machines “service facilities” under certain criteria, the National Credit Union Administration announced today. www.ncua.gov/News/Pages/NW20120809LiquidityWebinar.aspx

August 8, 2012 - NCUA - Komyathy Named Director of Risk Management - National Credit Union Administration Board Chairman Debbie Matz today announced the appointment of JeanMarie Komyathy as Director of Risk Management in the Office of Examination and Insurance (E&I). Komyathy assumes her new duties September 3. www.ncua.gov/News/Pages/NW20120808Komyathy.aspx

August 8, 2012 - Agencies Extend Comment Period on Regulatory Capital Proposals - The federal banking regulators today announced that they have extended the comment period until October 22, 2012, on three notices of proposed rulemaking that would revise and replace the agencies' current capital rules. The proposals have been available on the Federal Deposit Insurance Corporation's website since June 12, 2012.
Press Release: www.fdic.gov/news/news/press/2012/pr12093.html
Press Release: www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-118.html

August 8, 2012 - FDIC Announces Settlements With Higher One, Inc., New Haven, Connecticut, and the Bancorp Bank, Wilmington, Delaware for Unfair and Deceptive Practices - The Federal Deposit Insurance Corporation announced settlements with Higher One, Inc., New Haven, Connecticut, and The Bancorp Bank, Wilmington, Delaware, for alleged unfair and deceptive practices in violation of Section 5 of the Federal Trade Commission Act (Section 5). Higher One is an institution-affiliated party of The Bancorp Bank. www.fdic.gov/news/news/press/2012/pr12092.html

August 8, 2012 - The Federal Reserve Board on Wednesday announced the extension of the comment period until October 22, 2012, on three notices of proposed rulemaking that would revise and replace current capital rules. The proposals by the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency would implement the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act. www.federalreserve.gov/newsevents/press/bcreg/20120808a.htm

August 7, 2012 - NCUA - Matz: “NCUA Expands Small Business Access to Capital” - Initiative Could Nearly Double Number of Low-Income Credit Unions and Unlock Hundreds of Millions in Member Business Lending - More small businesses across America will have greater access to needed capital from federal credit unions through a National Credit Union Administration initiative to streamline the process for federal credit unions to receive a low-income designation. NCUA sent letters to more than 1,000 credit unions notifying them of their eligibility for the LICU designation today. www.ncua.gov/News/Pages/NW20120807LICU.aspx

August 7, 2012 - The Federal Reserve Board on Tuesday announced the issuance of monetary sanctions totaling $3.2 million against MetLife, Inc. for failure to adequately oversee its subsidiary bank's mortgage loan servicing and foreclosure processing operations. The oversight deficiencies represented unsafe and unsound practices at MetLife and corrective measures were required by a formal enforcement action issued against the company on April 13, 2011. www.federalreserve.gov/newsevents/press/enforcement/20120807a.htm

August 7, 2012 - Statistical Release - G.19 Consumer Credit - Consumer credit increased at a seasonally adjusted annual rate of 5 percent in the second quarter. Revolving credit decreased at an annual rate of 1/2 percent, while nonrevolving credit increased 7-3/4 percent. In June, consumer credit increased at an annual rate of 3 percent. www.federalreserve.gov/releases/g19/current/g19.htm

August 7, 2012 - Legal Developments - Section 19 Letters, June 25 - July 2, 2012.   www.federalreserve.gov/bankinforeg/legaldevelopments/ordersother2012.htm

August 7, 2012 - Chairman Ben S. Bernanke - Financial Education - At the Conversation with the Chairman: A Teacher Town Hall Meeting, Federal Reserve Board, Washington, D.C.  www.federalreserve.gov/newsevents/speech/bernanke20120807a.htm  

August 7, 2012 - Federal Reserve Board issues enforcement actions against Asian Financial Corporation, Gold Canyon Bank, Spirit BankCorp, and the State Bank of Blue Mound, and termination of enforcement action against LegacyTexas Group.   www.federalreserve.gov/newsevents/press/enforcement/20120807b.htm

August 6, 2012 - St. Louis-Area Teachers Hear from Fed Chairman Ben Bernanke - About 30 local educators will get a chance this week to participate in a discussion with Federal Reserve Chairman Ben Bernanke about the importance of personal finance education in the wake of the financial crisis. www.stlouisfed.org/newsroom/displayNews.cfm?article=1490

August 6, 2012 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act.  www.fdic.gov/news/news/press/2012/pr12091.html

August 6, 2012 - The July 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices - The July 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months.  www.federalreserve.gov/boarddocs/SnLoanSurvey/201208/default.htm

August 6, 2012 - Chairman Ben S. Bernanke - Economic Measurement - At the 32nd General Conference of the International Association for Research in Income and Wealth, Cambridge, Massachusetts.  www.federalreserve.gov/newsevents/speech/bernanke20120806a.htm

August 3, 2012 - First Midwest Bank, Itasca, Illinois, Assumes All of the Deposits of Waukegan Savings Bank, Waukegan, Illinois - Waukegan Savings Bank, Waukegan, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Midwest Bank, Itasca, Illinois, to assume all of the deposits of Waukegan Savings Bank. www.fdic.gov/news/news/press/2012/pr12090.html

August 3, 2012 - NCUA - Fryzel Urges African-American Credit Unions to Continue Underserved Outreach - As a featured speaker at the African-American Credit Union Coalition’s 14th Annual Conference, National Credit Union Administration Board Member Michael E. Fryzel discussed the importance of serving the underserved before an audience of credit union professionals, volunteers, and nonprofit member organizations here today. www.ncua.gov/News/Pages/NW20120803FryzelSpeech.aspx
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August 2, 2012 - Independent Foreclosure Review - Request for Review Form Help Sheet - The Federal Reserve Board issued enforcement actions against four large mortgage servicers --GMAC Mortgage, HSBC Finance Corporation, SunTrust Mortgage, and EMC Mortgage Corporation--in April 2011.
Press Release: www.federalreserve.gov/consumerinfo/independent-foreclosure-review.htm
Press Release: www.occ.gov/news-issuances/news-releases/2012/nr-ia-2012-117.html
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20120802a.htm

August 2, 2012 - Matthew J. Eichner, Deputy Director, Division of Research and Statistics - Tri-party Repo Market - Before the Subcommittee on Securities, Insurance, and Investment, Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. www.federalreserve.gov/newsevents/testimony/eichner20120802a.htm

August 1, 2012 - How Liquid are U.S. Life Insurance Liabilities? - Chicago Fed Letter describes a measure that can be used to characterize the liquidity of industry or individual firm liabilities. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2012/cflseptember2012_302.pdf

August 1, 2012 - NCUA Hosts Webinar on Liquidity Issues - Learn More about Coming Changes in Central Liquidity Facility Ownership and the Proposed Rule on Access to Emergency Liquidity.  www.ncua.gov/News/Pages/NW20120801Webinar.aspx

August 1, 2012 - NCUA - Trinity Credit Union Placed Under NCUA Conservatorship - The National Credit Union Administration today assumed control of service and operations at Trinity Credit Union, a state-chartered, federally insured credit union headquartered in Trinidad, Colo. www.ncua.gov/News/Pages/NW20120727TrinityCU.aspx

August 1, 2012 - NCUA - A M Community Credit Union Purchased by TruStone Financial Federal Credit Union - The Wisconsin Office of Credit Unions placed A M Community Credit Union of Kenosha, Wisc., into liquidation today and appointed the National Credit Union Administration as liquidating agent. TruStone Financial Federal Credit Union of Plymouth, Minn., immediately purchased and assumed A M Community Credit Union’s members, deposits, core facilities, and consumer loans. www.ncua.gov/News/Pages/NW20120801AMCommCU-PA.aspx

August 1, 2012 - OCC Releases CRA Evaluations for 18 National Banks and Federal Savings Associations - 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 July 1, 2012 through July 31, 2012. www.occ.gov/news-issuances/news-releases/2012/nr-occ-2012-116.html

August 1, 2012 - Kansas City Fed Announces Officer Appointments - The following officer appointments were recently announced by Esther George, president and chief executive officer of the Federal Reserve Bank of Kansas City.  http://www.kc.frb.org/publicat/newsroom/2012pdf/press.release.08.01.12.pdf

August 1, 2012 - Information received since the Federal Open Market Committee met in June suggests that economic activity decelerated somewhat over the first half of this year. www.federalreserve.gov/newsevents/press/monetary/20120801a.htm