Bank Regulatory News
October 2002
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October
31, 2002 - The Federal Reserve Board on Thursday decided to issue a final
Regulation W that comprehensively implements sections 23A and 23B of the
Federal Reserve Act. www.federalreserve.gov/boarddocs/press/bcreg/2002/20021031/default.htm
October 31, 2002 - The Board of Governors on Thursday approved a final
rule that revises the Federal Reserve's discount window programs, which
provide credit to help depository institutions meet temporary liquidity
needs. www.federalreserve.gov/boarddocs/press/bcreg/2002/200210312/default.htm
October 31, 2002 - The Federal Reserve Board on Thursday approved fee
schedules for Federal Reserve Bank payment services, effective January 2,
2003 www.federalreserve.gov/boarddocs/press/other/2002/20021031/default.htm
October 30, 2002 - Remarks by
Chairman Alan Greenspan - Education - At the International
Understanding Award Dinner, Institute of International Education, New
York, New York www.federalreserve.gov/boarddocs/speeches/2002/20021029/default.htm
October 30, 2002 - FDIC Makes Public September 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 September. One administrative hearing is scheduled for
November. www.fdic.gov/news/news/press/2002/pr11402.html
October 30, 2002 - U.S. Department of Treasury FinCEN Patriot Act
Communication System - This advisory letter transmits a U.S. Department of
Treasury, Financial Crimes Enforcement Network news release, dated October
1, 2002. The attached news
release announces FinCEN’s new electronic communications system, the
Patriot Act Communication System Press Release: www.occ.treas.gov/ftp/advisory/2002-8.txt
Attachment: http://www.fincen.gov/newsreleasepacs10012002.pdf
October 30, 2002 - NCUA - Cease and Desist Order for Korean American
Catholics Federal Credit Union
http://www.ncua.gov/news/Proposed_regs/722_10_15_2002.pdf
October 30, 2002 - NCUA - Final Rule on Part 722 Appraisals
www.ncua.gov/justposted.html
October 29, 2002 - OCC Takes Action Against ACE Cash Express, Inc. and
Goleta National Bank - The Office of the Comptroller of the Currency
announced today that ACE Cash Express, Inc., and Goleta National Bank,
Goleta, California, signed cease and desist orders requiring them to end
unsafe and unsound payday lending activities and to pay $325,000 in civil
money penalties.
Press Release: www.occ.treas.gov/ftp/release/2002-85.txt
Attachment: www.occ.treas.gov/ftp/eas/goleta%20stip.pdf
Attachment: www.occ.treas.gov/ftp/eas/Goleta%20Consent.pdf
Attachment: www.occ.treas.gov/ftp/eas/ACE%20Stipulation.pdf
Attachment: www.occ.treas.gov/ftp/eas/Ace%20Order.pdf
October 29, 2002 - OTS Approves Citibank Acquisition Of California Federal
Bank - The Office of Thrift Supervision announced today that it has
approved an application by Citigroup, Inc., to organize a new federal
savings bank, Citibank (West), FSB, to acquire Golden State Financial
Corp.’s subsidiary, California Federal Bank, FSB. www.ots.treas.gov/docs/77241.html
October 28, 2002 - The Federal Reserve Board today announced its approval
of the proposal by Citigroup Inc., New York, New York, to acquire Golden
State Bancorp Inc. and its subsidiary savings association, California
Federal Bank, both of San Francisco, California.
www.federalreserve.gov/boarddocs/press/orders/2002/20021028/default.htm
October 28, 2002 - Thrift Interest Rate Risk Falls to Lowest Point Since
1998 - The Office of Thrift Supervision (OTS) reported today that only
eight federal thrifts out of 917 — 0.9 percent — were at high risk
from an adverse change in interest rates as of the end of the second
quarter. That is down from 1.5 percent at the end of the first quarter —
the industry’s lowest exposure since 1998. www.ots.treas.gov/docs/77240.html
____________
October 25, 2002 - FDIC Reports Third Quarter 2002
Financial Results For Bank And Thrift Insurance Funds - The
Federal Deposit Insurance Corporation today announced that the Bank
Insurance Fund reported comprehensive income (net income plus current
period unrealized gains/losses on available-for-sale securities) of $944
million for the nine months ending September 30, 2002, compared to $859
million for the same period last year. www.fdic.gov/news/news/press/2002/pr11302.html
October 24, 2002 - NCUA to Host Nov. 14 "Access Across America"
Workshop in Westborough, Mass. - Forum to focus on governmental resource
partners as part of White House Minority Homeownership Initiative. www.ncua.gov/news/press_releases/2002/NR02-1024.htm
October 24, 2002 - Chairman Donald E. Powell Federal Deposit Insurance
Corporation South America And Emerging Risks In Banking Florida Bankers
Association Orlando, Florida October 23, 2002 www.fdic.gov/news/news/press/2002/pr11202.html
October 24, 2002 - Minority-Owned
Banks - The Federal Reserve Board compiles quarterly data on banks
that participate in the Department of the Treasury's Minority Bank Deposit
Program and releases the data about twelve weeks after the end of each
quarter. www.federalreserve.gov/Releases/mob/default.htm
October 24, 2002 - Federal Reserve
Automated Clearinghouse Operations - The automated clearinghouse
(ACH) is a nationwide mechanism that processes electronically originated
batches of credit and debit transfers. ACH credit transfers include direct
deposit payroll payments and payments to contractors and vendors. www.federalreserve.gov/paymentsystems/fedach/default.htm
October 24, 2002 - Federal Reserve
Check Services - Next to cash, checks are the most frequently used
method of payment in the United States. About one-fourth of all checks
written in the United States are deposited in the institution on which
they are drawn ("on-us" checks). Checks not drawn on the
institution at which they are deposited are called interbank checks. The
Federal Reserve Banks are among many providers of interbank check
collection services to depository institutions. www.federalreserve.gov/paymentsystems/checkservices/default.htm
October 24, 2002 - Productivity
Growth: A Realistic Assessment
- Remarks by Vice Chairman
Roger W. Ferguson, Jr. At the Stockton Lectures 2002, London
Business School, London, U.K. www.federalreserve.gov/boarddocs/speeches/2002/20021024/default.htm
October 23, 2002 - The Federal Reserve Board on Wednesday announced the
issuance of an Amendment to a Cease and Desist Order against the United
Central Bank, Garland, Texas www.federalreserve.gov/boarddocs/press/Enforcement/2002/20021023/default.htm
October 23, 2002 - Beige Book -
Informal review by the Federal Reserve Banks of current economic
conditions in their Districts www.federalreserve.gov/FOMC/BeigeBook/2002/20021023/Default.htm
October 23, 2002 - Remarks
by Chairman Alan Greenspan - Productivity - At the U.S.
Department of Labor and American Enterprise Institute Conference,
Washington, D.C. www.federalreserve.gov/boarddocs/speeches/2002/20021023/default.htm
October 23, 2002 - NCUA - Issues
Cease and Desist Order Against Credit Union with Bank Secrecy Act
Violations- The National
Credit Union Administration announced it issued a cease and desist order
Monday against Korean American Catholics Federal Credit Union regarding
substantial Bank Secrecy Act violations.
www.ncua.gov/news/press_releases/2002/nr02_1023.htm
October 23, 2002 - NCUA - Federal
Credit Union Expansion Act - H.R. 5621 www.ncua.gov/news/legislation/HR5621.htm
October 23, 2002 - NCUA - Small Business Lending Will Aid U.S. Economy,
Says NCUA’s Johnson - JoAnn
Johnson, National Credit Union Administration Board Member, focused on
open communication and member business lending in her remarks today to the
National Association of Community Credit Unions during their 4th
Annual Conference. www.ncua.gov/news/press_releases/2002/nr02_1023_2.htm
October 22, 2002- The Federal Reserve Board announced today the approval
of the application of China Merchants Bank, Shenzhen, People's Republic of
China, to establish a representative office in New York, New York. www.federalreserve.gov/boarddocs/press/orders/2002/20021023/default.htm
October 22, 2002 - Comptroller Hawke Says Reforming the System of Funding
Bank Supervision Would Improve Safety and Soundness and Strengthen Dual
Banking System - Comptroller of the Currency John D. Hawke, Jr. said today
that the most serious flaw in the current system of funding bank
supervision is that it undermines safety and soundness and the health of
the dual banking system.
Press Release: www.occ.treas.gov/ftp/release/2002-84.txt
Attachment: www.occ.treas.gov/ftp/release/2002-84a.txt
October 22, 2002 - Urban Revitalization: Shared Responsibilities - Remarks
by Governor Mark W. Olson At the Federal Reserve Bank of St. Louis
Conference: "Rays of Hope: A New Day for America's Distressed Urban
Areas," East St. Louis, Illinois www.federalreserve.gov/boarddocs/speeches/2002/20021022/default.htm
October 22, 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
October 22, 2002 - The Federal Reserve Board, along with the Federal
Reserve Banks of Chicago, Minneapolis, Kansas City, and San Francisco,
will sponsor a conference this fall to explore ways to encourage banking
opportunities in tribal communities. "Banking Opportunities in Indian
Country" will be held November 18-20 in Scottsdale, Arizona. www.federalreserve.gov/boarddocs/press/other/2002/20021022/default.htm
October 21, 2002 - NCUA - Revisions for NCUA's Supervisory Committee Guide
for FCUs (10/2002) - HOW DO WE
REVIEW THE "ALLOWANCE FOR LOAN LOSSES"?
www.ncua.gov/Ref/supervisory_comm/SupCommRevOct2002.pdf
October 21, 2002 - The NCUA Board
has selected agency veteran Herbert S. Yolles as the inspector general and
Edward P. Dupcak as the Central Liquidity Facility president effective
Monday, October 21, 2002. www.ncua.gov/news/press_releases/2002/NR02-1018_3.htm
October 21, 2002 - OCC Announces Four Appointments in Bank Supervision -
The Office of the Comptroller of the Currency announced today that David
D. Gibbons has been named Deputy Comptroller for Special Supervision,
succeeding Jerilyn Gilland, who will become one of two Deputy Comptrollers
supervising the newly realigned district headquarters in Dallas. http://www.occ.treas.gov/ftp/release/2002-83.txt
______________
October 18, 2002 - Former Thrift Holding Company Official
Settles OTS Charges - Charles E. Hurwitz and two companies he controls -
MAXXAM Inc. and Federated Development Co. - today settled charges brought
against them by the Office of Thrift Supervision. www.ots.treas.gov/docs/77239.html
October 17, 2002 - The Federal Reserve Board on Thursday announced the
execution of a Written Agreement by and among O.A.K. Financial
Corporation, Byron Center, Michigan; the Byron Center State Bank, Byron
Center, Michigan; the Federal Reserve Bank of Chicago; and the State of
Michigan Office of Financial and Insurance Services. www.federalreserve.gov/boarddocs/press/Enforcement/2002/20021017/default.htm
October 17, 2002 - Former Mississippi Bank CEO Pleads Guilty To Deceiving
FDIC, Bank Examiners - Federal
Deposit Insurance Corporation (FDIC) Inspector General Gaston L. Gianni,
Jr., has announced that William Hugh "Buck" Tatum, Jr.,
Tiplersville, MS, pled guilty on October 10 to a Criminal Information
charging him with one count of money laundering and two counts of making
false statements in bank records to deceive the FDIC and FDIC examiners. www.fdic.gov/news/news/press/2002/pr11002.html
October 17, 2002 - Texas Man Guilty Of Scheme To Defraud Bestbank,
Boulder, Colorado; Scam Cost FDIC $9 Million - Federal Deposit
Insurance Corporation (FDIC) Inspector General Gaston L. Gianni, Jr., has
announced that William Brooks, South Lake, Texas, was convicted on October
15, 2002, of 46 counts of bank fraud, wire fraud and money laundering for
implementing a scheme to defraud the failed BestBank, Boulder, CO, and
Pueblo Bank and Trust Company, Pueblo, CO, which acquired the insured
deposits of the failed institution from the FDIC. The scheme ultimately
cost the FDIC over $9 million. www.fdic.gov/news/news/press/2002/pr11102.html
October 17, 2002 - Industrial
Production And Capacity Utilization - Industrial production edged
down 0.1 percent in September. Despite the declines in August and
September, the index of industrial production was 140.5 percent of the
1992 average, a level still slightly above the June 2002 reading. www.federalreserve.gov/Releases/G17/Current/default.htm
October 17, 2002 - NCUA - October
17, 2002 -Details of NCUA Bulk Loan Sale - The National Credit
Union Administration announced this week that its Asset Management and
Assistance Center is conducting a loan sale of non-performing consumer,
charge off and deficiency balances. www.ncua.gov/news/press_releases/2002/nr02-1017_1.htm
October 17, 2002 - NCUA - Board
Action Memorandums are available - Drafts of Actions To Be
Considered at NCUA Board Meetings www.ncua.gov/news/draftboardactions/index.htm
October 17, 2002 - NCUA - Final
Rule: Part 704 of NCUA’s Rules and Regulations, Corporate Credit Unions www.ncua.gov/news/Proposed_regs/704finalweb.pdf
October 16, 2002 - Final Rule--Anti-Money-Laundering Requirements for
Foreign Correspondent Banks - This bulletin transmits a final rule
published by the U.S. Treasury Department on September 26, 2002 to
implement sections 313 and 319(b) of the USA PATRIOT Act.
The rule, codified in 31 CFR 103, becomes effective on October 28,
and it establishes requirements concerning correspondent accounts of
foreign banks.
Press Release:www.occ.treas.gov/ftp/bulletin/2002-41.txt
Attachment: www.occ.treas.gov/fr/fedregister/67fr60562.pdf
October 16, 2002 - Final Rule--Special Information-Sharing Procedures to
Deter Money Laundering and Terrorist Activity - This bulletin transmits a
final rule published by the U.S. Treasury Department on September 26, 2002
to implement section 314 of the USA PATRIOT Act.
Press Release: www.occ.treas.gov/ftp/bulletin/2002-42.txt
Attachment: www.occ.treas.gov/fr/fedregister/67fr60579.pdf
October 16, 2002 - OCC Announces 13 New Enforcement Actions and 2
Terminations - The Office of the Comptroller of the Currency (OCC) today
announced 13 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/2002-81.txt
October 16, 2002 - OCC Releases CRA Evaluations For 36 National Banks
- The Office of the Comptroller of the Currency (OCC) today
released a list of Community Reinvestment Act (CRA) performance
evaluations that became public during the period of September 15 through
October 14, 2002. www.occ.treas.gov/ftp/release/2002-82.txt
October 16, 2002 - FDIC Chairman Powell Calls For New, Streamlined
Supervisory Structure To Oversee Financial Services
www.fdic.gov/news/news/press/2002/pr10902.html
October 16, 2002 - Chairman Donald E. Powell Federal Deposit Insurance
Corporation Why Regulatory Restructuring? Why Now? Exchequer Club,
Washington, Dc October 16, 2002 www.fdic.gov/news/news/press/2002/pr10802.html
October 16, 2002 - The
Methodology of Benefit-Cost Analysis
- Remarks by Governor
Edward M. Gramlich - At the Werner Sichel Economics Lecture-Seminar
Series, Western Michigan University, Kalamazoo, Michigan
www.federalreserve.gov/BoardDocs/Speeches/2002/200210163/default.htm
October 16, 2002 - Should
Financial Stability Be an Explicit Central Bank Objective? - Remarks by
Vice Chairman Roger W. Ferguson, Jr. - Paper presented to an
International Monetary Fund conference on Challenges to Central Banking
from Globalized Financial Markets, Washington, D.C. www.federalreserve.gov/BoardDocs/Speeches/2002/20021016/default.htm
October 15, 2002 - NCUA - Board Member Johnson: “Dialogue Brings Results
For Member Business Lending” - National Credit Union Administration
Board Member JoAnn Johnson credited open dialogue between credit unions
and the NCUA Board with a revision made this week by the NCUA Board to the
appraisal rules applicable to member business loans. www.ncua.gov/news/press_releases/2002/nr02-1015.htm
October 15, 2002 - Comptroller Explains the Structure of U.S. Bank
Supervision - Comptroller of the Currency John D. Hawke, Jr. outlined the
complexity and rationale of the structure of U.S. bank supervision before
an audience Monday at the People's Bank of China.
Press Release: www.occ.treas.gov/ftp/release/2002-80.txt
Attachment: www.occ.treas.gov/ftp/release/2002-80a.txt
October 15, 2002 - Second Edition of the FDIC's Quarterly Letter to
Stakeholders - Attached is the second edition of our quarterly Letter to
Stakeholders. This edition highlights the FDIC's success in meeting our
priorities during the third quarter of 2002. www.fdic.gov/news/news/financial/2002/FIL02119.html
October 15, 2002 - Asset-Price
"Bubbles" and Monetary Policy
- Remarks by Governor Ben
S. Bernanke - Before the New York Chapter of the National
Association for Business Economics, New York, New York October 15, 2002 www.federalreserve.gov/BoardDocs/Speeches/2002/20021015/default.htm
October 15, 2002 - Under the Bank Holding Company Act, bank holding
companies may elect to be financial holding companies. Following is
a list of those companies whose elections to become or be treated as
financial holding companies are effective. www.federalreserve.gov/GeneralInfo/FHC/default.htm
__________
October 11, 2002 - The Federal Reserve Board on Friday
announced the appointment of chairmen and deputy chairmen of the twelve
Federal Reserve Banks for 2003 www.federalreserve.gov/boarddocs/press/other/2002/20021011/default.htm
October 10, 2002 - Advisory Letter 2002-10, U.S. Department of Treasury
FinCEN Advisories 17A, 18A, and 26A 10/09/2002 - This issuance revises the
list of countries provided in Advisory Letter 2002-5, "U.S.
Department of Treasury FinCEN Advisories 28 through 32," dated June
6, 2002 (see also AL 2002-2, AL 2001-7, and AL 2000-8). FinCEN had
identified 15 countries with serious deficiencies in their
counter-money-laundering systems. www.occ.treas.gov/ftp/advisory/2002-7.txt
October 9, 2002 - Central Banks
and Markets - Remarks by
Vice Chairman Roger W. Ferguson, Jr. At the Bond Market Association
2002 Awards Dinner, New York, New York www.federalreserve.gov/boarddocs/speeches/2002/20021009/default.htm
October 9, 2002 - New Examination
Procedures for Assessing Information Technology Risk - Over the last
several years, many financial institutions have moved away from
traditional mainframe-oriented computer processing environments and
increased their reliance on newer technologies, such as networks, the
Internet and enterprise-wide processing. As a result, the Federal Deposit
Insurance Corporation is launching a new program for assessing information
technology risk at FDIC-supervised financial institutions. www.fdic.gov/news/news/financial/2002/FIL02118.html
October 9, 2002 - Remarks By Chairman Donald E. Powell Federal Deposit
Insurance Corporation Before The National Bankers Association New Orleans,
Louisiana October 9, 2002 www.fdic.gov/news/news/press/2002/pr10702.html
October 9, 2002 - Shared National
Credit Program - The Shared National Credit Program was established
in 1977 by the Board of Governors of the Federal Reserve System, the
Federal Deposit Insurance Corporation, and the Office of the Comptroller
of the Currency to provide an efficient and consistent review and
classification of any large syndicated loan. www.federalreserve.gov/Releases/SNC/default.htm
October 8, 2002 - Statement Of FDIC Chairman Don Powell On The Release Of
2002 Shared National Credit Review Data
www.fdic.gov/news/news/press/2002/pr10502.html
October 8, 2002 -Bank Regulatory Agencies Find Adversely Rated Syndicated
Loans Continue to Increase in 2002, but at Slower Rate than Previous Year
- The quality of large
syndicated bank loans continued to deteriorate this year, but at a slower
rate than was evident in 2001, according to the 2002 Shared National
Credit review, which federal bank regulators released today. The
deterioration was consistent with general economic, sectoral, and credit
market trends.
FDIC - www.fdic.gov/news/news/press/2002/pr10402.html
OCC - www.occ.treas.gov/ftp/release/2002-79.pdf
October 8, 2002 - FDIC To Study Future Of Banking -Federal Deposit Insurance Corporation Chairman Don Powell today
announced his agency will conduct a major study on the future of banking
in America. www.fdic.gov/news/news/press/2002/pr10302.html
October 8, 2002 - Corporate
Governance and Risk Management - Remarks
by Governor Susan S. Bies - At the Annual International Symposium
on Derivatives and Risk Management, Fordham University School of Law, New
York, New York www.federalreserve.gov/BoardDocs/Speeches/2002/20021008/default.htm
October 8, 2002 - The Federal Reserve Board announced today the approval
of the application of Eurohypo Aktiengesellschaft, Frankfurt, Germany, to
establish a branch in New York, New York, and representative offices in
Chicago, Illinois, and Los Angeles, California.
www.federalreserve.gov/boarddocs/press/orders/2002/200210082/default.htm
October 8, 2002 - The Federal Reserve Board announced today the approval
of the application of Fortis Bank S.A./N.V., Brussels, Belgium, to
establish branches in New York, New York, and Stamford, Connecticut. www.federalreserve.gov/boarddocs/press/orders/2002/20021008/default.htm
October 8, 2002 - NCUA - Guidelines
for Ensuring the Quality of Disseminated Information is available. www.ncua.gov/Ref/Foia/InformationGuidelinesfinal.htm
October 7, 2002 - Comptroller Addresses Corporate Reform for Banks - The
prospect of financial conglomerates owning banks underscores the need to
safeguard bank interests in the activities of diversified financial
holding companies, Comptroller of the Currency John D. Hawke said today. www.occ.treas.gov/ftp/release/2002-78.txt
October 7, 2002 - Stackhouse Named Senior VP of St. Louis Fed - The board
of directors of the Federal Reserve Bank of St. Louis has named Julie L.
Stackhouse senior vice president of the Supervision & Regulation
Division. www.stlouisfed.org/news/releases/2002/10_04_02.htm
October 7, 2002 - FDIC Issues October List Of Banks Examined For CRA
Compliance www.fdic.gov/news/news/press/2002/pr10202.html
October 7, 2002 - Remarks by
Chairman Alan Greenspan- At the annual convention of the American
Bankers Association, Phoenix, Arizona www.federalreserve.gov/boarddocs/speeches/2002/20021007/default.htm
October 4, 2002 - Emergency Communications and National BankNet - On
October 5, 2001, the Office of the Comptroller of the Currency (OCC)
issued OCC Alert 2001-11, Joint Agency Request Relating to Information
Pertaining to Terrorist Attacks. It
requested your participation in a system to facilitate cooperation with
law enforcement authorities in heir
ongoing investigation of terrorist activity. www.occ.treas.gov/ftp/alert/2002-11.txt
October 4, 2002 - Regulatory Relief - Steps to Help Rebuild Areas Affected
by Hurricane Lili - The Federal Deposit Insurance Corporation (FDIC) has
announced a series of steps intended to facilitate the process of
rebuilding the areas of Louisiana that were damaged by Hurricane Lili.
www.fdic.gov/news/news/financial/2002/FIL02117.html
October 4, 2002 - The Federal Reserve Board on Friday released the minutes
of its discount rate meetings from July 22, 2002 to August 12, 2002 www.federalreserve.gov/boarddocs/press/monetary/2002/20021004/default.htm
October 3, 2002 - New
Post-Examination Survey for Safety and Soundness, and Compliance and
Community Reinvestment Act Examinations - On October 1, 2002, the Federal
Deposit Insurance Corporation implemented a new post-examination survey
for all safety and soundness, and compliance and Community Reinvestment
Act examinations. www.fdic.gov/news/news/financial/2002/FIL02116.html
October 3, 2002 - Reports to the
Congress - Availability of Credit to Small Businesses
http://www.federalreserve.gov/boarddocs/rptcongress/sbfreport2002.pdf
October 3, 2002 - Remarks by Vice
Chairman Roger W. Ferguson, Jr. At the SWIFT Sibos World Forum,
Geneva, Switzerland - Business
Continuity after September 11
www.federalreserve.gov/boarddocs/speeches/2002/20021003/default.htm
October 3, 2002 - The Federal Reserve Board on Thursday announced the
annual adjustments in the amount of net transaction accounts used in the
calculation of reserve requirements and the cutoff level used to determine
the detail and frequency of deposit reporting.
www.federalreserve.gov/boarddocs/press/bcreg/2002/20021003/default.htm
October 3, 2002 - NCUA - Community
Charter Approvals Report for January to September - 2002 - The community charter report identifies
community conversions, expansions, and new community charters approved
under IRPS 99-1, as amended by IRPS 00-1 and IRPS 01-1. http://www.ncua.gov/ref/comm_charter_rpt/2002report.htm
October 2, 2002 - FDIC Makes Public August Enforcement Actions; One
Administrative Hearing Scheduled - The Federal Deposit Insurance
Corporation today released a list of orders of administrative enforcement
actions taken against banks and individuals in August. One administrative
hearing is scheduled for October. www.fdic.gov/news/news/press/2002/pr10102.html
October 2, 2002 - OTS Says California Law Doesn’t Apply To Federal
Thrifts - The Office of Thrift Supervision today concluded that federal
law preempts the application of California’s minimum payment law to
federal savings associations. The California law requires credit card
issuers to provide certain cardholders with warnings and estimates of the
length of time necessary to pay off their balances and the total cost of
credit among other requirements. http://www.ots.treas.gov/docs/77238.html
October 1, 2002 - NCUA - National Credit Union Administration Examiner's
Guide - This Examiner’s Guide sets out guidance for an examiner on
NCUA’s examination and supervision of credit unions. The primary goal is
to ensure the overall safety and soundness of the credit union system www.ncua.gov/ref/examiners_guide/examguide.html
.
October 1, 2002 - Remarks by
Governor Susan S. Bies - At the Carnegie Endowment for
International Peace, Washington, D.C. - The
Challenge for Corporate Governance Posed by Financial Innovation www.federalreserve.gov/BoardDocs/Speeches/2002/20021001/default.htm
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