R. Kinney Williams - Yennik, Inc.®
R. Kinney Williams
Yennik, Inc.

The Community Banker
Brought to you by Yennik, Inc. the acknowledged leader in Internet auditing for financial institutions.


Bank Regulatory News
October 2002

You can receive the regulatory press releases every week by subscribing to
The E-mail Banking News at 
.  There is no charge for the e-newsletter.  
Contact Kinney Williams at examiner@yennik.com if you have any questions.

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 

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.

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.  
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


PLEASE NOTE:  Some of the above links may not function properly because the regulatory agency has changed the URL.  Please e-mail us at examiner@yennik.com if we can be of assistance.  

Back Button

Return to the Community Banker Home Page

Company Information
Yennik, Inc.

4409 101st Street
Lubbock, Texas 79424
Office 806-798-7119


Please visit our other web sites:
VISTA penetration-vulnerability testing
The Community Banker - Bank FFIEC & ADA Web Site Audits
Credit Union FFIEC & ADA Web Site Audits - Bank Auditing Services
US Banks on the Internet  
US Credit Unions on the Internet

All rights reserved; Our logo is registered with the United States Patent and Trademark Office.
Terms and Conditions, Privacy Statement, © Copyright Yennik, Incorporated