The Office of the Comptroller of the Currency requested public comment on a proposed regulation implementing the so-called "Volcker Rule" requirements of section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Fred. R. Becker Jr., president and CEO of the National Association of Federal Credit Unions, on Sept. 28, 2011, submitted comments to the Federal Reserve Board's Jennifer Johnson on its interim final rule on the fraud adjustment for debit card interchange fees.
The Office of the Comptroller of the Currency announced that David Nebhut has been appointed Deputy Comptroller for Economic and Policy Analysis effective Sept. 25, 2011.
The National Credit Union Administration's Office of Consumer Protection approved its first charter for a new credit union in 2011: Stepping Stones Federal Credit Union, located in Wilmington, Del.
First International Bank, Plano, Texas, was closed by the Texas Department of Banking, which appointed the Federal Deposit Insurance Corp. as receiver.
The Financial Crimes Enforcement Network [FinCEN] reported in its Second Quarter 2011 Analysis of mortgage loan fraud suspicious activity reports [MLF SARs] that financial institutions filed 29,558 MLF SARs in the second quarter of 2011, up from 15,727 MLF SARs reported in the same quarter of 2010.
Debbie Matz, Chairman of the Federal Financial Institutions Examination Council, announced the appointment of Judith E. Dupre as executive secretary of the Council.
Citizens Bank of Northern California, Nevada City, Calif., was closed by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corp. as receiver.
Bank of the Commonwealth, Norfolk, Va., was closed by the Virginia State Corporation Commission. The Federal Deposit Insurance Corp. was appointed as receiver.
NCUA Executive Director David Marquis testified before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit on the availability of credit for and lending to people who primarily use alternative financial services, also called the underbanked.
The Federal Financial Institutions Examination Council announced the availability of data on mortgage lending transactions at 7,923 U.S. financial institutions covered by the Home Mortgage Disclosure Act.
NCUA Board Chairman Debbie Matz announced a "Regulatory Modernization Initiative" to keep credit unions safe and sound while relieving regulatory burdens.
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