Counterfeit Checks Alert
The OCC has issued an Alert regarding counterfeit cashier’s checks issued in the name of Integra Bank, N.A., Evansville, IN. Information concerning the counterfeit checks has been posted on the Alerts & Counterfeits page.

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Joint Agencies Publish Final Rule in FR for Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance; Capital--Residential Mortgage Loans Modified Pursuant to the Home Affordable Mortgage Program
The agencies (Office of the Comptroller of the Currency, Department of the Treasury; Board of Governors of the Federal Reserve System; Federal Deposit Insurance Corporation; and Office of Thrift Supervision, Department of the Treasur) have adopted a final rule to allow banks, savings associations, and bank holding companies (collectively, banking organizations) to risk weight for purposes of the agencies' capital guidelines mortgage loans modified pursuant to the Home Affordable Mortgage Program (Program) implemented by the U.S. Department of the Treasury (Treasury) with the same risk weight assigned to the loan prior to the modification so long as the loan continues to meet other applicable prudential criteria.

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FRB Publishes Interim Final Rule in FR for Truth in Lending
The Board is publishing for public comment an interim final rule amending Regulation Z (Truth in Lending). The interim rule implements Section 131(g) of the Truth in Lending Act (TILA), which was enacted on May 20, 2009, as Section 404(a) of the Helping Families Save Their Homes Act. TILA Section 131(g) became effective immediately upon enactment and established a new requirement for notifying consumers of the sale or transfer of their mortgage loans.

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FRB Proposes Rulemaking for Electronic Fund Transfers
The Board is proposing to amend Regulation E, which implements the Electronic Fund Transfer Act, and the official staff commentary to the regulation, which interprets the requirements of Regulation E. The proposal restricts a person's ability to impose dormancy, inactivity, or service fees for certain prepaid products, primarily gift cards. In addition, the proposal generally prohibits the sale or issuance of such products if they have an expiration date of less than five years.

Credit Cards: Rising Interchange Fees
The Government Accounting Office (GAO) has issued a report to Congress regarding credit cards that indicates that rising interchange fees have increased costs for merchants, but options for reducing fees pose challenges.

CU Reforms Proposed
The NCUA Board has issued a proposed rule to reform the corporate credit union system by establishing a comprehensive new framework for safety and soundness which are intended to enhance NCUA regulatory oversight and address deficiencies in the current rule. The revisions would strengthen corporate credit union regulation in the areas of capital standards, asset/liability management, risk concentration limits and governance.

Prohibition Orders Issued
The NCUA has issued orders against six individuals that prohibit them from participating in the affairs of any federally insured financial institution.

HUD Modifies Second Appraisal Requirements
A Mortgagee Letter has been issued by HUD, effective immediately, that modifies the requirements for second appraisals and eliminates the need for a second appraisal on high balance loans in declining markets.

Written Agreement with Florida Bank
The FRB has announced the execution of a Written Agreement by and among Flagler Bank, West Palm Beach, FLa, a state chartered member bank, the Federal Reserve Bank of Atlanta, and the State of Florida, Office of Financial Regulation.