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Top Stories for October 2002

FDIC Makes Public September Enforcement Actions; One Administrative Hearing Scheduled

The FDIC released a list of orders of administrative enforcement actions taken against banks and individuals in September. One administrative hearing is scheduled for November. FDIC: PR-114-2002 10/31/02
OCC Sends Advisory Letter on FinCEN Patriot Act Communication System

The news release announces FinCEN's new electronic communications system, the Patriot Act Communication System (PACS). PACS allows participating financial institutions to file Currency Transaction Reports and Suspicious Activity Reports quickly and securely over the Internet. OCC:AL 2002-8 10/31/02
OTS Approves Citibank Acquisition Of California Federal Bank

The OTS announced 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. OTS 02-41 10/30/02
Approval of proposal of Citigroup

The Federal Reserve Board 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. FRB Press Release 10/30/02
Federal Reserve Financial Services Issues Memo on Implementation of Claim Adjustment Fee

Effective January 2, 2003, a $.38 fee will be assessed for each individual debit and/or credit claim adjustment processed per securities account. Federal Reserve Financial Services Press Release 10/30/02
OCC Takes Action Against ACE Cash Express, Inc. and Goleta National Bank

The OCC announced 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. ACE is a third-party service provider for Goleta in the origination, servicing, and collection of the payday loans booked by the bank. ACE offers payday loans on behalf of Goleta in 18 states and the District of Columbia. OCC:NR 2002-85, Goleta Stipulation, Goleta Consent Order, ACE Stipulation, ACE Consent Order 10/30/02
FinCEN Publishes Use of Currency Transaction Reports

Report 10/29/02
Thrift Interest Rate Risk Falls to Lowest Point Since 1998

The OTS reported that only eight federal thrifts out of 917 â€” 0.9 percent â€” 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 â€” the industry's lowest exposure since 1998. OTS 02-40 10/29/02
FDIC Reports Third Quarter 2002 Financial Results for Bank and Thrift Insurance Frauds

The FDIC announced that the Bank Insurance Fund (BIF) 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. Although net income declined by $341 million compared to last year, unrealized gains on available-for-sale securities increased by $426 million. The decline in net income primarily resulted from lower earnings on U.S. Treasury obligations and higher estimated losses for anticipated bank failure and litigation activity. As of September 30, 2002, the fund balance was $31.4 billion, up from $30.4 billion at year-end 2001. FDIC:PR-113-2002 10/28/02
CIP Rules May Wait SIX MONTHS!

The Treasury Department released an announcement late on October 25th that states that it will publish regulations called for by the PATRIOT Act within the next six months. It said "This includes not only regulations called for by section 352 of the Act, but also other provisions, such as section 326, which requires financial institutions to develop procedures for identifying and verifying the identity of accountholders." Treasury PO-3580 10/25/02
Holiday District Announcements

The Federal Reserve Banks will be closed on Monday, November 11, 2002, for Veterans Day. FR Financial Services 10/25/02
Chairman Donald E. Powell FDIC South America and Emerging Risks in Banking Florida Bankers Association, Orlando

Speech FDIC:PR-112-2002 10/25/02
Approval of proposal of China Merchants Bank

The Federal Reserve Board announced 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. FRB Press Release 10/24/02
Amendment to Cease and Desist Order against United Central Bank

The Federal Reserve Board announced the issuance of an Amendment to a Cease and Desist Order against the United Central Bank, Garland, Texas. FRB Press Release 10/24/02
Treasury Sends Congress USA PATRIOT ACT Report

Treasury acknowledges it's difficult for financial institutions to verify the identity of foreign nationals who open accounts. Learn what is recommended in "Treasury Sends Congress USA PATRIOT ACT Report". 10/23/02
Canadian Company Targets U.S. Citizens with Phony Credit Card Offers for an Advance Fee

The FTC has charged a Toronto-based company with eight telemarketing boiler rooms with operating a fraudulent advance-fee credit card business. The defendants' telemarketers told consumers that they would receive pre-approved MasterCard or Visa credit cards with low interest rates, credit limits of $2,000 or $2,500, and no annual fees. Consumers paid the defendants by agreeing to have their bank accounts debited for the advance fee of $189 to $219. FTC Press Release 10/23/02
Federal Reserve to sponsor conference on "Banking Opportunities in Indian Country"

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. The conference will focus on methods and resources for encouraging initiatives and partnerships that increase access to credit and capital and strengthen local economies. FRB Press Release 10/23/02
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 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. OCC:NR 2002- 84, Speech 10/23/02
Depository Institution Testing (DIT) Test Schedule 2003

Testing dates are provided for First Quarter 2003. Announcement 10/22/02
Treasury Tax and Loan Service

Annoucement 10/22/02
OCC Announces Four Appointments in Bank Supervision

The announced 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. OCC:NR 2002- 83 10/22/02
Former Thrift Holding Company Official Settles OTS Charges

Charles E. Hurwitz and two companies he controls â€“ MAXXAM Inc. and Federated Development Co. â€“ settled charges brought against them by the Office of Thrift Supervision (OTS). Mr. Hurwitz and the two companies consented to an order and agreed to pay the Savings Association Insurance Fund $206,000. They also agreed to restrictions on any future activities with a federally insured depository institution. OTS 02-39 10/21/02
FTC Offers Guidance on How to Protect Customer Information

To help businesses understand and comply with its May 2002 Financial Information Safeguards Rule, the Federal Trade Commission has issued a new "Facts for Business" publication, Financial Institutions and Customer Data: Complying with the Safeguards Rule. FTC Press Release 10/18/02
OCC Publishes Final Rule Regarding Information Sharing

This bulletin announces the final rule that implements section 314 of the USA PATRIOT Act. The two-part rule facilitates the exchange of information (1) between government and financial institutions and (2) among financial institutions. [This was earlier reported on BOL] OCC 2002-42, Final Rule 10/18/02
OCC Publishes Final Rule to Implement New Provisions of the BSA

The final rule would prohibit certain financial institutions from providing correspondent accounts to foreign shell banks. [This was earlier reported on BOL] OCC 2002-41, Final Rule 10/18/02
OCC Announces New Electronic Interpretations and Actions

Interpretive Letters and No-Objection Letters reflect the views of the Comptroller's legal staff. Corporate Decisions, CRA Decisions and Conditional Approvals are from the office of Bank Organization and Structure. October 2002 10/18/02
Former Mississippi Bank CEO Pleads Guilty to Deceiving FDIC, Bank Examiners

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. FDIC:PR-110-2002 10/18/02
Texas Man Guilty of Scheme to Defraud BestBank, Boulder, Colorado; Scam Cost FDIC $9 Million

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. FDIC:PR-111-2002 10/18/02
Written agreement with O.A.K. Financial Corporation and Byron Center State Bank

The Federal Reserve Board 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. FRB Press Release 10/18/02
FinCEN Issues Proposed Rule to Require Currency Dealers and Exchangers to Report Suspicious Transactions

The proposal also requires all money services businesses to which the suspicious transaction reporting rule applies to report transactions involving suspected use of the money services business to facilitate criminal activity. The proposed amendments constitute a further step in the creation of a comprehensive system for the reporting of suspicious transactions by the major categories of financial institutions operating in the United States, as a part of the counter-money laundering program of the Department of the Treasury. 67FR64075 (text) 10/17/02
OCC Announces 13 New Enforcement Actions and 2 Terminations

The OCC 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. OCC:NR 2002- 81 10/17/02
OCC Releases CRA Evaluations For 36 National Banks

The OCC released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of September 15 through October 14, 2002. The list contains only national banks and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance. OCC: NR 2002- 82 10/17/02
FDIC Chairman Powell Calls for New, Streamlined Supervisory Structure to Oversee Financial Services

Under the proposal, the banking industry, the securities industry, and those companies that choose an optional federal insurance charter would each have its own regulator, which would meet regularly with the Treasury and the Federal Reserve to make decisions on policy, as well as on systemic risk, permissible activities and product regulation. FDIC:PR-109-2002 Speech: PR-108-2002 10/17/02
HOEPA Loans

The Federal Reserve has published an update to its H.15 report, giving information on the yield on Treasury securities as of October 15, 2002. You'll need to check the APRs that will be in effect on your November loans against these rates, using the guidance in Reg Z's Section 226.32 to determine whether the loans are subject to HOEPA. FRB's H.15 Release , Reg Z, Section 226.32 10/16/02
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 at the People's Bank of China. OCC:NR 2002- 80, Speech 10/16/02
Second Edition of the FDIC's Quarterly Letter to Stakeholders

This edition highlights the FDIC's success in meeting our priorities during the third quarter of 2002. FDIC:FIL-119-2002 10/16/02
FATF Updates List of Noncooperative Countries and Territories

Russia, Dominica, Niue, and Marshall Islands removed from FATF's list of noncooperative countries and territories. FATF Press Release 10/15/02
FATF issues best practices guidelines to help prevent non-profit organizations from being misused by terrorists

Guidelines 10/15/02
FATF issues for public consultation a proposal for an Interpretative Note to Special Recommendation VII: Wire Transfers

Proposal 10/15/02
Historic Settlement on Non-prime Consumer Lending Issues

Household International has reached a preliminary agreement with a 43 state group of state attorneys general and regulatory agencies, representing a nationwide resolution of issues related to the company's non-prime consumer lending businesses. Under the terms of the agreement, Household will provide up to $484 million to resolve consumer complaints. The HFC/Beneficial branch based business will also reduce prepayment fee provisions to two years and give borrowers clearer disclosures earlier in the loan application process so that they better understand their product choices and proposed loan terms and features. As part of the settlement, an innovative "secret shopper" program developed by Household will closely monitor every step of the HFC/Beneficial branch based loan origination and closing process. Provisions of the Settlement, Household press release, Statement from the Iowa Attorney General 10/14/02
Treasury Department Provides Guidance on Compliance with Section 326 of USA PATRIOT ACT

The Treasury Department is advising all financial institutions that they will not be required to comply with section 326 of the USA PATRIOT ACT or the proposed rules issued by Treasury and the federal functional regulators on July 23 until final implementing regulations are issued and become effective. PO-3530 10/14/02
Appointment of Chairmen and Deputy Chairmen of Federal Reserve Banks for 2003

Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and designates one of its appointees as chairman and a second as deputy chairman. FRB Press Release 10/14/02
Illinois-Based Companies Charged with Fraudulent Telemarketing and Placing Unwanted Calls Settle Federal Charges

The FTC announced that it, along with the Illinois Attorney General's office, has reached a settlement with 1st Financial Solutions, Inc., which allegedly used a nationwide network of telemarketers to sell consumers major credit cards, cards that no one ever received. The settlement requires 1st Financial, three individuals and 10 other companies to post a $1 million bond before engaging in telemarketing. FTC Press Release 10/11/02
FDIC serves on international committees that analyze banking supervision and deposit insurance issues

The Research and Guidance Committee, International Association of Deposit Insurers, is drafting guidelines to enhance deposit insurance systems' effectiveness. The FDIC, a founding member of the International Association, serves as a member of the Executive Council. International Activities10/11/02
2nd Edition of FDIC Letter to Stakeholders

This edition highlights the FDIC's success in meeting our priorities during the third quarter of 2002. FYI 10/11/02
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 (FDIC) is launching a new program for assessing information technology (IT) risk at FDIC-supervised financial institutions. The program incorporates a new philosophy for categorizing institutions' use of technology and their consequential exposure to technology risk, along with updated and more risk-focused IT examination procedures. FDIC:FIL-118-2002 10/10/02
FDIC and the National Bankers Association Unite to Promote the Money Smart Curriculum

The FDIC announced that the National Bankers Association (NBA) signed a Memorandum of Understanding to promote the use of Money Smart among its member banks. The announcement was made by FDIC Chairman Don Powell and by James Young, Chairman of the NBA, at the group's 75th annual convention in New Orleans. FDIC:PR-106-2002 10/10/02
Remarks by Chairman Donald E. Powell Federal Deposit Insurance Corporation before the National Bankers Association

Speech 10/10/02
OCC Issues Correction to Fees Assessment Final Rule

This final rule makes a correction to the final rule that the OCC published in the Federal Register on September 11, 2002 amending 12 CFR 8.2(a). That provision sets forth the formula for the semiannual assessment the OCC charges each national bank. 67FR62872 (text) 67FR62872 (pdf) 10/9/02
FDIC to Study Future of Banking

FDIC Chairman Don Powell announced his agency will conduct a major study on the future of banking in America. "Over the next year," Chairman Powell told the American Bankers Association, "we will study the underlying trends in the economy and the industry. We will look at what this suggests for the future, and identify emerging policy questions likely to confront both regulators and the industry over the next decade." FDIC:PR-103-2002 10/9/02
FRB Approval of Proposal of Eurohypo Aktiengesellschaft

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. FRB Press Release 10/9/02
FRB Issues Approval of Proposal of Fortis Bank

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. FRB Press Release 10/9/02
Statement of FDIC Chairman Don Powell on the Release of 2002 Shared National Credit Review Data

FDIC:PR-105-2002 10/9/02
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 (SNC)1 review, which federal bank regulators released. The deterioration was consistent with general economic, sectoral, and credit market trends. FDIC: PR-104-2002 , OCC:NR 2002-79, FRB Press Release , FYI 10/9/02
FRB Issues Final Rule to Amend Reg D to Reflect the Annual Indexing

The final rule will reflect the annual indexing of the low reserve tranche and the reserve requirement exemption for 2003, and announces the annual indexing of the deposit reporting cutoff level that will be effective beginning in September 2003. 67FR62634 (text) 67FR62634 (pdf) 10/8/02
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. OCC:NR 2002- 78, Speech 10/8/02
FDIC Issues October List of Banks Examined for CRA Compliance

The FDIC issued its monthly list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in July 2002. FDIC:PR-102-2002 10/8/02
FATF Plenary to Meet October 9 - 11, 2002

The FATF, the world's leading anti-money laundering body, willmeet in Plenary session October 9 - 11 in Paris. Participants will focus on sound anti-moneylaundering practices including those related to the financing of terrorism, the Non-Cooperative Countries and Territories, and the review of the FATF 40 Recommendations to combat money laundering. Press Release 10/8/02
Minutes of FRB discount rate meetings, July 22 to August 12, 2002

The Federal Reserve Board released the minutes of its discount rate meetings from July 22, 2002 to August 12, 2002. FRB Press Release 10/7/02
OCC Issues Alert on Emergency Communications and National BankNet

This issuance announces the expansion of the National BankNet's e-mail system, which links the OCC directly to national banks that are BankNet members. From now on, the OCC and other government agencies will rely on BankNet's e-mail system to communicate with banks during terrorism-related emergencies. Because the Internet may not be secure at such times, the alert encourages banks that are not members of BankNet to become members. Alert 2002-11 10/7/02
New Post-Examination Survey for Safety and Soundness, and Compliance and Community Reinvestment Act Examinations

On October 1, 2002, the FDIC implemented a new post-examination survey for all safety and soundness, and compliance and Community Reinvestment Act (CRA) examinations. Institutions will be invited to complete the survey after each examination. The new survey is part of the FDIC's continuing effort to improve the quality and efficiency of our examination process. FDIC:FIL-116-2002 10/7/02
FDIC Issues FIL on Steps to Help Rebuild Areas Affected by Hurricane Lili

The FDIC is encouraging banks to work constructively with borrowers who are experiencing difficulties due to conditions beyond their control. The guidelines suggest that extending repayment terms, restructuring existing loans or easing terms for new loans, if done in a manner consistent with sound banking practices, can both contribute to the health of the community and serve the long-term interests of the lending institution. FDIC:FIL-117-2002 10/7/02
FRB Issues Proposed Rule to Clarify the Treatment of Stock Futures under Reg T

The proposed amendments would permit the withdrawal of cash from an otherwise restricted margin account if required to satisfy maintenance margin requirements. The proposed amendments also would explicitly permit stock futures to be carried in a good faith account as is currently done with other futures. 67FR62214 10/4/02
FRB Issues Final Rule on Annual Adjustments for Reserve Calculations and Deposit Reporting

The Federal Reserve Board 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. FRB Press Release 10/4/02
FDIC Looks to Research Used in Private Sector for Pricing and Managing Risk

FYI 10/4/02
FDIC Issues Alert on Counterfeit Official Checks

The FDIC has learned that counterfeit official checks drawn on IndyMac Bank, FSB, 225 N. Barranca St., West Covina, California 91791, are in circulation. FDIC:FIL-115-2002 10/4/02
FDIC Issues Warning on Entities That May Be Conducting Banking Operations Without Authorization

The OSFI of Canada has published "Monthly Warning Advisory" (Issue No. 34), which contains the names of entities recently brought to OSFI's attention through an inquiry or complaint. FDIC:FIL-114-2002 10/4/02
FDIC Makes Public August Enforcement Actions; One Administrative Hearing Scheduled

The FDIC released a list of orders of administrative enforcement actions taken against banks and individuals in August. One administrative hearing is scheduled for October. FDIC:PR-101-2002 10/3/02
OTS Says California Law Doesn't Apply to Federal Thrifts

The OTS 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. OTS 02-38 10/3/02
FinCEN Expands E-Filing System Financial Institutions begin filing BSA reports over Secure Internet

The Financial Crimes Enforcement Network (FinCEN) announced that it has officially launched the Patriot Act Communication System (PACS). PACS is designed to allow participating financial institutions to quickly and securely file Bank Secrecy Act (BSA) reports over the Internet. Phase one of the system will allow for the filing of the bank Suspicious Activity Report (Form TD F 90-22.47 or SAR) and the Currency Transaction Report (Form 4789 or CTR) FinCEN Press Release 10/2/02
FRB Publishes Final Rule for Annual Adjustment of Fee-based Trigger for Additional Mortgage Loan Disclosures

As earlier reported by the FRB, they have issued a final rule to make an adjustment of the dollar amount that triggers additional disclosure requirements under the Truth in Lending Act for mortgage loans that bear rates or fees above a certain amount. 67FR61769 10/2/02
Cease and Desist Order against Broadstreet and AmTrade

The Federal Reserve Board on Monday announced the issuance of a Cease and Desist Order against Broadstreet, Inc., Atlanta, Georgia, a bank holding company, and Broadstreet's subsidiary bank, the AmTrade International Bank of Georgia, Atlanta, Georgia. FRB Press Release, FDIC Information for AmTrade International Bank of Georgia, FDIC:PR-100-2002 10/01/02
Debt Cancellation Contracts and Debt Suspension Agreements

This bulletin announces the final rule on debt cancellation contracts and debt suspension agreements that was published in the Federal Register September 19. It becomes effective June 16, 2003. The rule establishes standards to ensure that national banks provide these products consistent with safe and sound banking practices and that the products are subject to appropriate consumer protections. OCC 2002-40 10/01/02

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09/30/2002

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Top Stories for October 2002

FDIC Makes Public September Enforcement Actions; One Administrative Hearing Scheduled

OCC Sends Advisory Letter on FinCEN Patriot Act Communication System

OTS Approves Citibank Acquisition Of California Federal Bank

Approval of proposal of Citigroup

Federal Reserve Financial Services Issues Memo on Implementation of Claim Adjustment Fee

OCC Takes Action Against ACE Cash Express, Inc. and Goleta National Bank

FinCEN Publishes Use of Currency Transaction Reports

Thrift Interest Rate Risk Falls to Lowest Point Since 1998

FDIC Reports Third Quarter 2002 Financial Results for Bank and Thrift Insurance Frauds

CIP Rules May Wait SIX MONTHS!

Holiday District Announcements

Chairman Donald E. Powell FDIC South America and Emerging Risks in Banking Florida Bankers Association, Orlando

Approval of proposal of China Merchants Bank

Amendment to Cease and Desist Order against United Central Bank

Treasury Sends Congress USA PATRIOT ACT Report

Canadian Company Targets U.S. Citizens with Phony Credit Card Offers for an Advance Fee

Federal Reserve to sponsor conference on "Banking Opportunities in Indian Country"

Comptroller Hawke Says Reforming the System of Funding Bank Supervision Would Improve Safety and Soundness and Strengthen Dual Banking System

Depository Institution Testing (DIT) Test Schedule 2003

Treasury Tax and Loan Service

OCC Announces Four Appointments in Bank Supervision

Former Thrift Holding Company Official Settles OTS Charges

FTC Offers Guidance on How to Protect Customer Information

OCC Publishes Final Rule Regarding Information Sharing

OCC Publishes Final Rule to Implement New Provisions of the BSA

OCC Announces New Electronic Interpretations and Actions

Former Mississippi Bank CEO Pleads Guilty to Deceiving FDIC, Bank Examiners

Texas Man Guilty of Scheme to Defraud BestBank, Boulder, Colorado; Scam Cost FDIC $9 Million

Written agreement with O.A.K. Financial Corporation and Byron Center State Bank

FinCEN Issues Proposed Rule to Require Currency Dealers and Exchangers to Report Suspicious Transactions

OCC Announces 13 New Enforcement Actions and 2 Terminations

OCC Releases CRA Evaluations For 36 National Banks

FDIC Chairman Powell Calls for New, Streamlined Supervisory Structure to Oversee Financial Services

HOEPA Loans

Comptroller Explains the Structure of U.S. Bank Supervision

Second Edition of the FDIC's Quarterly Letter to Stakeholders

FATF Updates List of Noncooperative Countries and Territories

FATF issues best practices guidelines to help prevent non-profit organizations from being misused by terrorists

FATF issues for public consultation a proposal for an Interpretative Note to Special Recommendation VII: Wire Transfers

Historic Settlement on Non-prime Consumer Lending Issues

Treasury Department Provides Guidance on Compliance with Section 326 of USA PATRIOT ACT

Appointment of Chairmen and Deputy Chairmen of Federal Reserve Banks for 2003

Illinois-Based Companies Charged with Fraudulent Telemarketing and Placing Unwanted Calls Settle Federal Charges

FDIC serves on international committees that analyze banking supervision and deposit insurance issues

2nd Edition of FDIC Letter to Stakeholders

New Examination Procedures for Assessing Information Technology Risk

FDIC and the National Bankers Association Unite to Promote the Money Smart Curriculum

Remarks by Chairman Donald E. Powell Federal Deposit Insurance Corporation before the National Bankers Association

OCC Issues Correction to Fees Assessment Final Rule

FDIC to Study Future of Banking

FRB Approval of Proposal of Eurohypo Aktiengesellschaft

FRB Issues Approval of Proposal of Fortis Bank

Statement of FDIC Chairman Don Powell on the Release of 2002 Shared National Credit Review Data

Bank Regulatory Agencies Find Adversely Rated Syndicated Loans Continue to Increase in 2002, but at Slower Rate than Previous Year

FRB Issues Final Rule to Amend Reg D to Reflect the Annual Indexing

Comptroller Addresses Corporate Reform for Banks

FDIC Issues October List of Banks Examined for CRA Compliance

FATF Plenary to Meet October 9 - 11, 2002

Minutes of FRB discount rate meetings, July 22 to August 12, 2002

OCC Issues Alert on Emergency Communications and National BankNet

New Post-Examination Survey for Safety and Soundness, and Compliance and Community Reinvestment Act Examinations

FDIC Issues FIL on Steps to Help Rebuild Areas Affected by Hurricane Lili

FRB Issues Proposed Rule to Clarify the Treatment of Stock Futures under Reg T

FRB Issues Final Rule on Annual Adjustments for Reserve Calculations and Deposit Reporting

FDIC Looks to Research Used in Private Sector for Pricing and Managing Risk

FDIC Issues Alert on Counterfeit Official Checks

FDIC Issues Warning on Entities That May Be Conducting Banking Operations Without Authorization

FDIC Makes Public August Enforcement Actions; One Administrative Hearing Scheduled

OTS Says California Law Doesn't Apply to Federal Thrifts

FinCEN Expands E-Filing System Financial Institutions begin filing BSA reports over Secure Internet

FRB Publishes Final Rule for Annual Adjustment of Fee-based Trigger for Additional Mortgage Loan Disclosures

Cease and Desist Order against Broadstreet and AmTrade

Debt Cancellation Contracts and Debt Suspension Agreements

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