Bank Regulatory News

August 2010

August 31, 2010 - Temporary Corporate Credit Union Share Guarantee Program Extended - The National Credit Union Administration has extended the expiration date of NCUA’s Temporary Corporate Credit Union Share Guarantee Program from September 30, 2012, to December 31, 2012.   www.ncua.gov/news/press_releases/2010/MR10-0831TCCUShareGuaranteeProgramExtended.pdf

August 31, 2010 - OCC Announces New Electronic Interpretations and Actions - August 2010.  www.occ.treas.gov/interp/aug10/intaug10.htm 

August 31, 2010 - Earnings of FDIC-Insured Institutions Increased to $21.6 Billion in the Second Quarter of 2010 - Continued Strengthening of the Banking Sector Leads to Significant Improvement in the Deposit Insurance Fund - Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported an aggregate profit of $21.6 billion in the second quarter of 2010, a $26 billion improvement from the $4.4 billion net loss the industry posted in the second quarter of 2009. www.fdic.gov/news/news/press/2010/pr10201.html 

August 31, 2010 - The Federal Reserve Board on Tuesday announced its approval of the application by China Investment Corporation, Beijing, People's Republic of China, to acquire indirectly up to 10 percent of the voting shares of Morgan Stanley, New York, New York. www.federalreserve.gov/newsevents/press/orders/20100831a.htm 

August 31, 2010 - The Federal Reserve Board and the Federal Open Market Committee on Tuesday released the attached minutes of the Committee meeting held on August 10, 2010. www.federalreserve.gov/newsevents/press/monetary/20100831a.htm

August 31, 2010 - The Federal Reserve Board on Tuesday announced the issuance of a Prompt Corrective Action Directive with the consent of First Community Bank, Taos, New Mexico, a state-chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20100831b.htm

August 31, 2010 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among First American Bancorp, Greenwood Village, Colorado a registered bank holding company, and its subsidiary bank, First American State Bank, Greenwood Village, Colorado, a state-chartered member bank, the Federal Reserve Bank of Kansas City, and the State of Colorado Division of Banking. www.federalreserve.gov/newsevents/press/enforcement/20100831a.htm

August 30, 2010 - NCUA - Net Worth Holds Steady; Delinquencies/Charge-offs Slow; Bankruptcies Increase - Mid-Year Call Reports Show Credit Union Earnings Decline Due to Members’ Financial Stress.  www.ncua.gov/news/press_releases/2010/MA10-0830NetWorthHoldsSteady.pdf 

August 30, 2010 - FDIC Holds First in a Series of Roundtables on Financial Reform - As part of the implementation of the Dodd Frank Wall Street Reform and Consumer Protection Act, the Federal Deposit Insurance Corporation announced a series of roundtable discussions with external parties. www.fdic.gov/news/news/press/2010/pr10200.html 

August 30, 2010 - FDIC Issues Fourth Quarter 2010 CRA Examination Schedule - The Federal Deposit Insurance Corporation has issued the public list of institutions that it has scheduled for a Community Reinvestment Act examination during the fourth quarter of 2010.   www.fdic.gov/news/news/press/2010/pr10199.html 

August 30, 2010 - The Effects of Bank Capital on Lending: What Do We Know, and What Does it Mean? - Jose M. Berrospide and Rochelle M. Edge - The effect of bank capital on lending is a critical determinant of the linkage between financial conditions and real activity, and has received especial attention in the recent financial crisis.  www.federalreserve.gov/pubs/feds/2010/201044/index.html

August 30, 2010 - Fiscal Policy in the United States: Automatic Stabilizers, Discretionary Fiscal Policy Actions, and the Economy - Glenn Follette and Byron Lutz - We examine the effects of the economy on the government budget as well as the effects of the budget on the economy.  www.federalreserve.gov/pubs/feds/2010/201043/index.html 

August 30, 2010 - A Semiparametric Characterization of Income Uncertainty Over the Life Cycle - James A. Feigenbaum and Geng Li - We propose a novel approach to estimate household income uncertainty at various future horizons, and characterize how the estimated uncertainty evolves over the life cycle.  www.federalreserve.gov/pubs/feds/2010/201042/201042pap.pdf  

August 30, 2010 - Monthly Report on Credit and Liquidity Programs and the Balance Sheet - The Federal Reserve prepares this monthly report as part of its efforts to enhance transparency about the range of programs and tools that have been implemented in response to the financial crisis and to ensure appropriate accountability to the Congress and the public. www.federalreserve.gov/monetarypolicy/files/monthlyclbsreport201008.pdf 

August 30, 2010 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and between Highland Bancshares, Inc., St. Michael, Minnesota, a registered bank holding company, and the Federal Reserve Bank of Minneapolis. www.federalreserve.gov/newsevents/press/enforcement/20100830c.htm 

August 30, 2010 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and between UCB Financial Group, Inc., Atlanta, Georgia, a registered bank holding company, the Federal Reserve Bank of Atlanta, and the Banking Commissioner of the State of Georgia. www.federalreserve.gov/newsevents/press/enforcement/20100830b.htm 

August 30, 2010 - The Federal Reserve Board on Monday announced the issuance of a Prompt - Corrective Action Directive with the consent of Sunrise Bank, Cocoa Beach, Florida, a state-chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20100830a.htm 

August 27, 2010 - FDIC Makes Public July Enforcement Actions; No Administrative Hearings Scheduled for August 2010 - The Federal Deposit Insurance Corporation today released a list of orders of administrative enforcement actions taken against banks and individuals in July. No administrative hearings are scheduled. www.fdic.gov/news/news/press/2010/pr10198.html 

August 27, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

August 27, 2010 - Chairman Ben S. Bernanke - The Economic Outlook and Monetary Policy - At the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming www.federalreserve.gov/newsevents/speech/bernanke20100827a.htm
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August 26, 2010 - Midwest Farmland Values Up from Last Year - Latest AgLetter reports farmland values for the second quarter of 2010 were 6 percent higher than a year ago. www.chicagofed.org/digital_assets/publications/agletter/2010_2014/august_2010.pdf 

August 26, 2010 - S.A.F.E. Act Mortgage Loan Originator Registration Requirements: Joint Final Rule - The OCC issues final rule requiring employees of national banks who are residential mortgage loan originators to meet the registration requirements of the S.A.F.E. Act. www.occ.treas.gov/ftp/bulletin/2010-33.html 

August 26, 2010 - Statistical Release - G.20 Finance Companies.  www.federalreserve.gov/releases/g20/current/g20.htm 

August 26, 2010 - The Federal Reserve System will sponsor a national summit on September 1 and 2 to discuss methods and resources for encouraging neighborhood stabilization in the aftermath of the U.S. home mortgage foreclosure crisis.  www.federalreserve.gov/newsevents/press/other/20100826a.htm 

August 26, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among CSRA Bank Corp., Wrens, Georgia, a registered bank holding company, the Federal Reserve Bank of Atlanta, and the Banking Commissioner of the State of Georgia. www.federalreserve.gov/newsevents/press/enforcement/20100826c.htm 

August 26, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among Guaranty Development Company, Livingston, Montana, a registered bank holding company, and its subsidiary bank, American Bank, Bozeman, Montana, a state-chartered member bank, the Federal Reserve Bank of Minneapolis, and the Montana Division of Banking and Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20100826b.htm 

August 26, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between First Bancshares, Inc., of Cold Spring, Cold Spring, Minnesota, a registered bank holding company, and the Federal Reserve Bank of Minneapolis. www.federalreserve.gov/newsevents/press/enforcement/20100826a.htm

August 25, 2010 - Despite Continuing Challenges, U.S. Thrift Industry Reports Profit for Fourth Consecutive Quarter - The U.S. thrift industry reported a profit of $1.49 billion in the second quarter 2010, the fourth consecutive quarterly profit for the industry, the Office of Thrift Supervision reported today. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=aa22ee0d-dea4-5333-7c80-ea4bfb2dbd13&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

August 25, 2010 - Alternatives to the Use of Credit Ratings in OCC Regulations: Advance Notice of Proposed Rulemaking - OCC seeks comment on two rulemakings regarding alternatives to the use of credit ratings in OCC regulations, as required in the Dodd-Frank Wall Street Reform and Consumer Protection Act. http://www.occ.treas.gov/ftp/bulletin/2010-32.html

August 25, 2010 - FDIC Offers Tips for Keeping Costs Down on Checking and Savings Accounts - Other topics in the latest FDIC Consumer News include the permanent increase in federal deposit insurance coverage to $250,000 and money management strategies for young adults - New rules limit the fees banks and other financial institutions can charge on some services, so it's possible that the costs of other services, such as checking and savings accounts, could go up.  www.fdic.gov/news/news/press/2010/pr10197.html 

August 25, 2010 - Interest on Required Reserve Balances and Excess Balances - Maintenance period ending August 25, 2010.   www.federalreserve.gov/monetarypolicy/reqresbalances.htm

August 23, 2010 - Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Illinois Affected by Severe Weather - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Illinois affected by severe storms and flooding. www.fdic.gov/news/news/financial/2010/fil10054.html 

August 23, 2010 - Revised Interagency Examination Procedures for Regulation Z - The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently approved the attached interagency examination procedures for Regulation Z - Truth in Lending.   www.federalreserve.gov/boarddocs/caletters/2010/1010/caltr1010.htm 

August 23, 2010 - Monthly Report on Credit and Liquidity Programs and the Balance Sheet August 2010.   www.federalreserve.gov/monetarypolicy/clbsreports.htm 

August 20, 2010 - OCC Appoints Receiver for Community National Bank at Bartow - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Community National Bank at Bartow, Bartow, Florida. As of June 30, 2010, the bank had approximately $68 million of total assets. www.occ.treas.gov/ftp/release/2010-101.htm

August 20, 2010 - OCC Appoints Receiver for Independent National Bank - The Office of the Comptroller of the Currency today appointed the Federal Deposit Insurance Corporation as receiver for Independent National Bank, Ocala, Florida. As of June 30, 2010, the bank had approximately $156.2 million of total assets. www.occ.treas.gov/ftp/release/2010-100.htm 

August 20, 2010 - Westamerica Bank, San Rafael, California, Assumes All of the Deposits of Sonoma Valley Bank, Sonoma, California - Sonoma Valley Bank, Sonoma, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Westamerica Bank, San Rafael, California, to assume all of the deposits of Sonoma Valley Bank. www.fdic.gov/news/news/press/2010/pr10196.html

August 20, 2010 - Pacific Western Bank, San Diego, California, Assumes All of the Deposits of Los Padres Bank, Solvang, California - Los Padres Bank, Solvang, California, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Pacific Western Bank, San Diego, California, to assume all of the deposits of Los Padres Bank www.fdic.gov/news/news/press/2010/pr10195.html 

August 20, 2010 - Rabobank, National Association, El Centro, California, Acquires All the Deposits of Two Banks in California - Butte Community Bank, Chico, and Pacific State Bank, Stockton - Butte Community Bank, Chico, California, and Pacific State Bank, Stockton, California, were closed today by the California Department of Financial Institutions, which then appointed the Federal Deposit Insurance Corporation as receiver for the two banks. To protect depositors, the FDIC entered into purchase and assumption agreements with Rabobank, National Association, El Centro, California, to assume all the deposits and essentially all the assets of the two failed banks, which were not affiliated with one another.  www.fdic.gov/news/news/press/2010/pr10194.html 

August 20, 2010 - Urban Partnership Bank, Chicago, Illinois, Assumes All of the Deposits of ShoreBank, Chicago, Illinois - ShoreBank, Chicago, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Urban Partnership Bank, Chicago, Illinois, a newly-chartered institution, to assume all of the deposits of ShoreBank. www.fdic.gov/news/news/press/2010/pr10193.html 

August 20, 2010 - OTS Closes Imperial Savings and Loan Association and Appoints FDIC Receiver - The Office of Thrift Supervision today closed Imperial Savings and Loan Association of Martinsville, Va., and appointed the Federal Deposit Insurance Corporation as receiver. www.ots.treas.gov/?p=PressReleases&ContentRecord_id=9155a761-9a94-1e70-7792-085b8ad29153&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3 

August 20, 2010 - OCC Releases CRA Evaluations For 39 National Banks - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act performance evaluations that became public during the period of July 15, 2010 through August 14, 2010.   www.occ.treas.gov/ftp/release/2010-99.htm 

August 20, 2010 - OCC Enforcement Actions - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. www.occ.treas.gov/ftp/release/2010-98.htm 

August 20, 2010 - River Community Bank, National Association, Martinsville, Virginia, Assumes All of the Deposits of Imperial Savings and Loan Association, Martinsville, Virginia - Imperial Savings and Loan Association, Martinsville, Virginia, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with River Community Bank, National Association, Martinsville, Virginia, to assume all of the deposits of Imperial Savings and Loan Association. www.fdic.gov/news/news/press/2010/pr10192.html 

August 20, 2010 - CenterState Bank of Florida, National Association, Winter Haven, Florida, Acquires All the Deposits of Two Banks in Florida - Community National Bank at Bartow, Bartow, and Independent National Bank, Ocala - Community National Bank At Bartow, Bartow, Florida, and Independent National Bank, Ocala, Florida, were closed today by the Office of the Comptroller of the Currency, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for the two banks. To protect depositors, the FDIC entered into purchase and assumption agreements with CenterState Bank of Florida, National Association, Winter Haven, Florida, to assume all the deposits and essentially all the assets of the two failed banks, which were not affiliated with one another. www.fdic.gov/news/news/press/2010/pr10191.html 

August 20, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 
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August 19, 2010 - BSA/AML: Update on the Continuing Illicit Finance Threat Emanating from Iran - New provisions that update information on preventing Iran from abusing the international financial system to facilitate its illicit conduct. www.occ.treas.gov/ftp/bulletin/2010-31.html 

August 19, 2010 - St. Louis Fed’s Bullard Discusses the Outlook for the U.S. Economy and Monetary Policy - St. Louis Fed President James Bullard said Thursday that while the U.S. macroeconomic outlook has been downgraded, continued expansion is the most likely course going forward.  www.stlouisfed.org/newsroom/displayNews.cfm?article=742 

August 19, 2010 - The four federal banking agency members of the Federal Financial Institutions Examination Council - the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision - announced today the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings institutions, pursuant to the Community Reinvestment Act.  www.ffiec.gov/hmcrpr/cra081910.htm 

August 19, 2010 - FDIC Selects Consortium as Winning Bidder of $1.7 Billion Amtrust CADC Portfolio - Consortium Comprises Oaktree Capital Management-controlled Venture, Toll Brothers Inc., and Milestone Asset Opportunity LLC - The Federal Deposit Insurance Corporation has closed on a sale of 40 percent equity interest in a limited liability company created to hold approximately $1.7 billion of primarily non-performing commercial acquisition, development and construction loan assets and owned real estate out of AmTrust Bank.  www.fdic.gov/news/news/press/2010/pr10190.html

August 19, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between MidSouth Bank, Murfreesboro, Tennessee, a state-chartered member bank, and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/newsevents/press/enforcement/20100819c.htm

August 19, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among Union Bancshares, Inc., Marksville, Louisiana, a registered bank holding company, the Federal Reserve Bank of Atlanta, and the Louisiana Office of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20100819b.htm 

August 19, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among Battle Creek State Company, Inc., Battle Creek, Nebraska, a registered bank holding company, Battle Creek State Bank, Battle Creek, Nebraska, a state-chartered member bank, the Federal Reserve Bank of Kansas City, and the Nebraska Department of Banking and Finance. www.federalreserve.gov/newsevents/press/enforcement/20100819a.htm 

August 18, 2010 - NCUA- Matz Schedules Oregon Town Hall Meeting - October 5 event will outline critical issues, encourage industry input - NCUA Chairman Debbie Matz will host a Town Hall in Portland, Oregon, October 5, 2010, in an effort to foster two-way communication and discuss developments affecting both natural person and corporate credit unions. www.ncua.gov/news/press_releases/2010/MA10-0818MatzSchedulesPortlandTownHall.pdf 

August 18, 2010 - Comptroller of the Currency Hosts Community Bank Directors Workshops in Kansas City - The Office of the Comptroller of the Currency will host workshops for directors of nationally chartered community banks in Kansas City, at the Westin Crown Center, September 21-23, 2010. www.occ.treas.gov/ftp/release/2010-97.htm 

August 18, 2010 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Missouri Affected by Severe Weather - -The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Missouri affected by severe storms, flooding and tornadoes. www.fdic.gov/news/news/financial/2010/fil10053.html

August 18, 2010 - Statistical Release - Charge-Off and Delinquency Rates on Loans at Commercial Banks - These data are compiled from the quarterly FFIEC Consolidated Reports of Condition and Income. Data for each calendar quarter become available approximately sixty days after the end of the quarter. www.federalreserve.gov/releases/chargeoff/ 

August 18, 2010 - The Federal Reserve Board and the New York State Banking Department on Wednesday announced the issuance of a consent Order to Cease and Desist against Barclays Bank PLC, London and the bank's branch in New York. The Order requires Barclays Bank to improve its program for compliance with U.S. economic sanctions requirements on a global basis. www.federalreserve.gov/newsevents/press/enforcement/20100818b.htm 

August 18, 2010 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and between Wisconsin Bancshares, Inc., Kenosha, Wisconsin, a registered bank holding company, and the Federal Reserve Bank of Chicago. www.federalreserve.gov/newsevents/press/enforcement/20100818a.htm 

August 17, 2010 - INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION - Industrial production rose 1.0 percent in July after having edged down 0.1 percent in June, and manufacturing output moved up 1.1 percent in July after having fallen 0.5 percent in June.   www.federalreserve.gov/releases/g17/Current/default.htm 

August 17, 2010 - The Federal Reserve Board on Tuesday announced the issuance of a Consent Order of Assessment of a Civil Money Penalty against Texas Star Bank, Van Alstyne, Texas, a state member bank. Texas Star Bank, without admitting to any allegations, consented to the issuance of the Order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. www.federalreserve.gov/newsevents/press/enforcement/20100817a.htm 

August 16, 2010 - Despite Low Incomes, Farmland Values Rise Further According to Ag Credit Survey.   www.kc.frb.org/pubaffrs/pressrel/2010pdf/press.release.10.19.pdf

August 16, 2010 - Reverse Mortgages: Interagency Guidance - Guidance addresses the compliance and reputation risks associated with reverse mortgage products. Financial institutions must inform consumers on the risks and benefits of these complex loans.
Press Release: www.occ.treas.gov/ftp/bulletin/2010-30.html
Press Release: www.ncua.gov/news/press_releases/2010/JR10-0816ReverseMortgages.pdf

August 16, 2010 - John Walsh Becomes Acting Comptroller of the Currency - John Walsh became Acting Comptroller of the Currency on Sunday, succeeding John C. Dugan who completed his five-year term of office.  www.occ.treas.gov/ftp/release/2010-96.htm  

August 16, 2010 - The Federal Financial Institutions Examination Council released guidance today on reverse mortgage products. The guidance, adopted by each of the financial regulators, emphasizes the consumer protection concerns raised by reverse mortgages and the importance of financial institutions mitigating the compliance and reputation risks associated with these products. www.ffiec.gov/press.htm

August 16, 2010 - Regulatory Capital Standards - Advance Notice of Proposed Rulemaking Regarding Alternatives to the Use of External Credit Ratings in Risk-Based Capital Guidelines of the Federal Banking Agencies - The FDIC and the other federal banking agencies are requesting comment on alternative standards of creditworthiness to replace the use of credit ratings in the risk-based capital requirements.  www.fdic.gov/news/news/financial/2010/fil10052.html

August 16, 2010 - Surveys and Reports - The July 2010 Senior Loan Officer Opinion Survey on Bank Lending Practices - The July 2010 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months.  www.federalreserve.gov/boarddocs/snloansurvey/201008/default.htm 

August 16, 2010 - The Federal Reserve Board on Monday proposed enhanced consumer protections and disclosures for home mortgage transactions. The proposal includes significant changes to Regulation Z and represents the second phase of the Board's comprehensive review and update of the mortgage lending rules in the regulation. www.federalreserve.gov/newsevents/press/bcreg/20100816e.htm 

August 16, 2010 - The Federal Reserve Board on Monday announced final rules to protect mortgage borrowers from unfair, abusive, or deceptive lending practices that can arise from loan originator compensation practices.  www.federalreserve.gov/newsevents/press/bcreg/20100816d.htm 

August 16, 2010 - The Federal Reserve Board on Monday announced final rules to implement a statutory amendment to the Truth in Lending Act requiring that consumers receive notice when their mortgage loan has been sold or transferred. www.federalreserve.gov/newsevents/press/bcreg/20100816c.htm

August 16, 2010 - The Federal Reserve Board on Monday issued an interim rule that revises the disclosure requirements for closed-end mortgage loans under Regulation Z. The interim rule implements provisions of the Mortgage Disclosure Improvement Act that require lenders to disclose how borrowers' regular mortgage payments can change over time. www.federalreserve.gov/newsevents/press/bcreg/20100816b.htm 

August 16, 2010 - The Federal Reserve Board on Monday proposed a rule to revise the escrow account requirements for higher-priced, first-lien "jumbo" mortgage loans.  ww.federalreserve.gov/newsevents/press/bcreg/20100816a.htm

August 16, 2010 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among Madison Financial Corporation, Richmond, Kentucky, a registered bank holding company, Madison Bank, Richmond, Kentucky, a state-chartered member bank, the Federal Reserve Bank of Cleveland, and the Commonwealth of Kentucky Department of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20100816b.htm 

August 16, 2010 - The Federal Reserve Board on Monday announced the issuance of a Prompt Corrective Action Directive with the consent of First Banking Center, Burlington, Wisconsin, a state-chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20100816a.htm

August 13, 2010 - First Midwest Bank, Itasca, Illinois, Assumes All of the Deposits of Palos Bank and Trust Company, Palos Heights, Illinois - Palos Bank and Trust Company, Palos Heights, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation - Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Midwest Bank, Itasca, Illinois, to assume all of the deposits of Palos Bank and Trust Company. www.fdic.gov/news/news/press/2010/pr10189.html

August 13, 2010 - Financial Regulation in the Post-Crisis Environment - Chicago Fed Letter focuses on future of financial services industry in light of recent financial crisis and forthcoming reforms. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflseptember2010_278a.pdf 

August 13, 2010 - After the Financial Crisis: The Future of Payment Innovations - Chicago Fed Letter explores emerging trends in the payments industry and new regulation following the crisis. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflseptember2010_278b.pdf

August 13, 2010 - St. Louis Fed President James Bullard Will Speak at Fed Exchange.  www.stlouisfed.org/newsroom/displayNews.cfm?article=736 

August 13, 2010 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Wisconsin Affected by Severe Weather - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Wisconsin affected by severe storms, flooding and tornadoes. www.fdic.gov/news/news/financial/2010/fil10051.html 

August 13, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.  www.federalreserve.gov/monetarypolicy/bst.htm 

August 13, 2010 - Payment Systems - Fedwire Funds Services, Fedwire Security Services, and National Settlement Service data through 2010: Q2.   www.federalreserve.gov/paymentsystems/default.htm

August 13, 2010 - CRA Hearing in Los Angeles to be Available For Online Viewing - Online viewing will be available for a public hearing Tuesday in Los Angeles on modernizing the regulations that implement the Community Reinvestment Act.  
Press Release: www.federalreserve.gov/newsevents/press/other/20100813a.htm
Press Release: www.federalreserve.gov/monetarypolicy/bst.htm 
Press Release: http://www.occ.treas.gov/ftp/release/2010-95.htm
Press Release: www.ots.treas.gov/?p=PressReleases&ContentRecord_id=6c0fe5fd-f6a8-e8e3-5a72-44271ccc3860&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3
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August 12, 2010 - Live Video Available for August 12 CRA Public Hearing - The Chicago Fed is offering a live video stream and captioning, beginning at 9:00 a.m. CDT, for the August 12 public hearing on modernizing regulations that implement the Community Reinvestment Act. www.chicagofed.org/webpages/index.cfm 

August 12, 2010 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Kansas Affected by Severe Weather - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Kansas affected by severe storms, flooding and tornadoes. www.fdic.gov/news/news/financial/2010/fil10050.html 

August 12, 2010 - Final Rule Conforming FDIC Regulations on Deposit Insurance Coverage and Advertisement of Membership to Permanent Standard Maximum Deposit Insurance Amount of $250,000 - On August 10, 2010, the FDIC Board of Directors adopted the attached final rule amending its insurance regulations (12 C.F.R. Part 330) and advertising regulations (12 C.F.R. Part 328) to conform with provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which permanently increased the standard maximum deposit insurance amount from $100,000 to $250,000. This permanent increase in the SMDIA became effective July 22, 2010. www.fdic.gov/news/news/financial/2010/fil10049.html 

August 12, 2010 - Retained Asset Accounts and FDIC Deposit Insurance Coverage - FDIC Chairman Sheila C. Bair recently sent the attached letter to the National Association of Insurance Commissioners addressing the FDIC's concerns about the adequacy of disclosures provided by insurance companies when distributing insurance proceeds to consumers through Retained Asset Accounts. Recent media reports indicate that many RAA recipients incorrectly think these products are deposit. www.fdic.gov/news/news/financial/2010/fil10048.html 

August 12, 2010 - FDIC Announces Open Door Policy for Regulatory Reform Rulemaking - The Federal Deposit Insurance Corporation today announced an open door policy that will make it easier for the public to give input and track the rulemaking process as the agency implements the Dodd-Frank Wall Street Reform and Consumer Protection Act. www.fdic.gov/news/news/press/2010/pr10187.html

August 12, 2010 - Payment Systems - Automated Clearinghouse and Check Services data through 2010:Q2.   www.federalreserve.gov/paymentsystems/default.htm 

August 12, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among Brand Group Holdings, Inc., Lawrenceville, Georgia, a registered bank holding company, The Brand Banking Company, Lawrenceville, Georgia, a state-chartered member bank, the Federal Reserve Bank of Atlanta, and the Banking Commissioner of the State of Georgia. www.federalreserve.gov/newsevents/press/enforcement/20100812b.htm 

August 12, 2010 - The Federal Reserve Board on Thursday announced the issuance of a Prompt Corrective Action Directive with the consent of Paramount Bank, Farmington Hills, Michigan, a state-chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20100812a.htm

August 11, 2010 - After the Financial Crisis: The Future of Payment Innovations - Chicago Fed Letter explores emerging trends in the payments industry and new regulation following the crisis. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflseptember2010_278b.pdf

August 11, 2010 - Truth in Savings Act—Regulation DD: Revised Examination Procedures - Procedures reflect changes to Regulation DD requiring banks to periodically disclose certain fees and account balances. Also updates the OCC's Annual Percentage Yield verification software. www.occ.treas.gov/ftp/bulletin/2010-29.html

August 11, 2010 - Overdraft Payment Programs and Consumer Protection - FDIC Invites Comments on Overdraft Payment Supervisory Guidance - The FDIC expects the institutions it supervises to closely monitor and oversee any overdraft payment programs they offer to consumers.  www.fdic.gov/news/news/financial/2010/fil10047.html 

August 11, 2010 - FDIC Sets Out Overdraft Payment Program Guidance - Public Comment SoughtThe Federal Deposit Insurance Corp. today proposed guidance for public comment on how the banking institutions it supervises should implement and maintain robust oversight of automated overdraft payment programs. www.fdic.gov/news/news/press/2010/pr10186.html 

August 11, 2010 - Money, Reserves, and the Transmission of Monetary Policy: Does the Money Multiplier Exist? Seth B. Carpenter and Selva Demiralp - With the use of nontraditional policy tools, the level of reserve balances has risen significantly in the United States since 2007. Before the financial crisis, reserve balances were roughly $20 billion whereas the level has risen well past $1 trillion. www.federalreserve.gov/pubs/feds/2010/201041/index.html

August 11, 2010 - The Federal Reserve Board on Wednesday announced its approval of an interim final rule implementing recent legislation modifying the effective date of certain disclosure requirements applicable to gift cards under the Credit Card Accountability Responsibility and Disclosure Act of 2009.   www.federalreserve.gov/newsevents/press/bcreg/20100811a.htm

August 10, 2010 - OCC Solicits Comments on Alternatives to the Use of External Credit Ratings - The Office of the Comptroller of the Currency seeks comment regarding alternatives to the use of credit ratings as measures of credit-worthiness in its regulations governing bank-permissible investment securities and certain other activities. www.occ.treas.gov/ftp/release/2010-94.htm 

August 10, 2010 - OCC Announces Appointment of Ted Wartell as Community Affairs Policy Director - The Office of the Comptroller of the Currency announced today the appointment of Ted Wartell as Director of Community Affairs Policy. He will report to Deputy Comptroller for Community Affairs Barry Wides.  www.occ.treas.gov/ftp/release/2010-92.htm  

August 10, 2010 - OCC Names Karen Solomon as Deputy Chief Counsel - The Office of the Comptroller of the Currency announced today the selection of Karen Solomon as Deputy Chief Counsel. Ms. Solomon succeeds Jeff Gillespie, who is retiring later this year. Ms. Solomon will report to Chief Counsel Julie Williams. www.occ.treas.gov/ftp/release/2010-91.htm 

August 10, 2010 - FDIC Announces Organizational Changes to Help Implement Recently Enacted Regulatory Reform by Congress - The FDIC Board of Directors today approved the creation of a new Office of Complex Financial Institutions and Division of Depositor and Consumer Protection to help carry out its responsibilities under the Dodd-Frank Wall Street Reform and Consumer Protection Act. www.fdic.gov/news/news/press/2010/pr10184.html 

August 10, 2010 - FDIC Board Approves Safe Accounts Pilot Program - Applications to Participate Will Be Accepted Through September 15, 2010 - The FDIC Board of Directors today approved a pilot program to evaluate the feasibility of insured depository institutions offering safe, low-cost transactional and savings accounts. Under the pilot, participating institutions will offer electronic deposit accounts with product features identified in the FDIC Model Safe Accounts Template. www.fdic.gov/news/news/press/2010/pr10183.html

August 10, 2010 - Agencies Issue Advance Notice of Proposed Rulemaking Regarding Alternatives to the Use of Credit Ratings - The federal banking agencies (agencies) today have agreed to publish an advance notice of proposed rulemaking (advance notice) regarding alternatives to the use of credit ratings in their risk-based capital rules for banking organizations.
Press Release: www.federalreserve.gov/newsevents/press/bcreg/20100810a.htm
Press Release: www.fdic.gov/news/news/press/2010/pr10185.html 
Press Release: www.occ.treas.gov/ftp/release/2010-93.htm 
Press Release: www.ots.treas.gov/?p=PressReleases&ContentRecord_id=5cffe574-b1e2-abe7-0293-a8faeff9b614&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3

August 10, 2010 - Information received since the Federal Open Market Committee met in June indicates that the pace of recovery in output and employment has slowed in recent months. Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.  www.federalreserve.gov/newsevents/press/monetary/20100810a.htm

August 9, 2010 - CRA Hearing in Chicago to be Available For Online Viewing -Online viewing will be available for a public hearing Thursday in Chicago on modernizing the regulations that implement the Community Reinvestment Act. 
Press Release: www.federalreserve.gov/newsevents/press/other/20100809a.htm
Press Release: www.fdic.gov/news/news/press/2010/pr10182.html
Press Release: www.occ.treas.gov/ftp/release/2010-90.htm 
Press Release: www.ots.treas.gov/?p=PressReleases&ContentRecord_id=57f81c1d-9150-3e74-b127-3e9d42462957&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3

August 9, 2010 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and between Sonoma Valley Bancorp, Sonoma, California, a registered bank holding company, and the Federal Reserve Bank of San Francisco. www.federalreserve.gov/newsevents/press/enforcement/20100809b.htm

August 6, 2010 - Northbrook Bank and Trust Company, Northbrook, Illinois, Assumes All of the Deposits of Ravenswood Bank, Chicago, Illinois - Ravenswood Bank, Chicago, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Northbrook Bank and Trust Company, Northbrook, Illinois, to assume all of the deposits of Ravenswood Bank. www.fdic.gov/news/news/press/2010/pr10181.html 

August 6, 2010 - Financial Regulation in the Post-Crisis Environment - Chicago Fed Letter focuses on future of financial services industry in light of recent financial crisis and forthcoming reforms. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflseptember2010_278a.pdf 

August 6, 2010 - FDIC Announces Departure of General Counsel Michael Bradfield - Michael Bradfield, General Counsel of the FDIC, has decided to resign his position and will leave the FDIC effective August 13, 2010. Mr. Bradfield has served in this position since May of 2009. www.fdic.gov/news/news/press/2010/pr10180.html

August 6, 2010 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart data update.   www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm 
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FYI - GAO - United States Faces Challenges in Addressing Global Cybersecurity and Governance. http://www.gao.gov/highlights/d10606high.pdf

August 5, 2010 - Regulatory Relief - Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Hurricane Alex - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Texas affected by Hurricane Alex. www.fdic.gov/news/news/financial/2010/fil10046.html 

August 5, 2010 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings that the FDIC assigned to institutions in May 2010. www.fdic.gov/news/news/press/2010/pr10178.html

August 5, 2010 - Online Viewing Available for CRA Public Hearing - Online viewing will be available for a public hearing Friday in Atlanta on modernizing the regulations that implement the Community Reinvestment Act.  
Press Release: www.federalreserve.gov/newsevents/press/other/20100805a.htm
Press Release: www.fdic.gov/news/news/press/2010/pr10179.html
Press Release: www.occ.treas.gov/ftp/release/2010-89.htm
Press Release: www.ots.treas.gov/?p=PressReleases&ContentRecord_id=4328d3df-f554-185c-746b-dc50ca44be58&ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3

August 5, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and among Progress Bank of Florida, Tampa, Florida, a state-chartered member bank, the Federal Reserve Bank of Atlanta, and the State of Florida Office of Financial Regulation. www.federalreserve.gov/newsevents/press/enforcement/20100805c.htm 

August 5, 2010 - The Federal Reserve Board on Thursday announced the issuance of a Prompt - Corrective Action Directive with the consent of Community First Bank-Chicago, Chicago, Illinois, a state-chartered member bank. www.federalreserve.gov/newsevents/press/enforcement/20100805b.htm 

August 5, 2010 - The Federal Reserve Board on Thursday announced the execution of a Written Agreement by and between Harbor Bankshares Corporation, Baltimore, Maryland, a registered bank holding company, and the Federal Reserve Bank of Richmond. www.federalreserve.gov/newsevents/press/enforcement/20100805a.htm 

August 5, 2010 - NCUA - Hyland Underscores Ongoing Challenges for Directors -Speaking yesterday before 1,100 attendees at the 33rd Annual National Directors’ Convention, National Credit Union Administration Board Member Gigi Hyland highlighted the critical role of credit union directors. “You must ask the tough questions at board meetings. You are the voice of the members you represent. You are not management’s rubber stamp,” stated Hyland. www.ncua.gov/news/press_releases/2010/MA10-080533rdNatDirectorsConference.pdf

August 4, 2010 - What is Clearing and Why Does It Matter? - Chicago Fed Letter explains the concept of clearing and how it can improve risk-sharing opportunities for market participants. www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflseptember2010_278.pdf

August 4, 2010 - NCUA Issues Letter of Understanding and Agreement - The National Credit Union Administration has published a Letter of Understanding and Agreement entered into with the officials of Veritas Federal Credit Union, Franklin, Tennessee. www.ncua.gov/news/press_releases/2010/MA10-0804NCUAIssuesLUA.pdf 

August 4, 2010 - Misrepresentation of Involvement of the Office of the Comptroller of the Currency in ICC Black List - The Office of the Comptroller of the Currency has been notified that a fictitious Black List purportedly compiled and maintained by the OCC for the International Chamber of Commerce is currently in circulation via the Internet and e-mail. www.occ.treas.gov/ftp/alert/2010-9.html

August 4, 2010 - Comptroller of the Currency Hosts Community Bank Directors Workshop in Houston - The Office of the Comptroller of the Currency will host a workshop for directors of nationally chartered community banks in Houston, at the InterContinental Houston Hotel, September 13-15, 2010. www.occ.treas.gov/ftp/release/2010-88.htm 

August 4, 2010 - FDIC Announces Departure of Senior Advisor to the Chairman for Markets Joe Jiampietro - Joseph A, Jiampietro, Senior Advisor for Markets to FDIC Chairman Sheila C. Bair, will leave the FDIC effective August 13, 2010. Mr. Jiampietro has served in this position since March of 2009. www.fdic.gov/news/news/press/2010/pr10177.html 

August 4, 2010 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and among New Peoples Bankshares, Inc., Honaker, Virginia, a registered bank holding company, New Peoples Bank, Inc., Honaker, Virginia, a state-chartered member bank, the Federal Reserve Bank of Richmond, and the Virginia State Corporation Commission, Bureau of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20100804b.htm 

August 4, 2010 - The Federal Reserve Board on Wednesday announced the execution of a Written Agreement by and among Premier Financial Corp., Dubuque, Iowa, a registered bank holding company, Premier Bank, Dubuque, Iowa, a state-chartered member bank, the Federal Reserve Bank of Chicago, and the State of Iowa Division of Banking. www.federalreserve.gov/newsevents/press/enforcement/20100804a.htm 

August 3, 2010 - NCUA - Kappa Alpha Psi Federal Credit Union Closes Member Accounts are Safe and Federally Insured - The National Credit Union Administration today placed Kappa Alpha Psi Federal Credit Union, located in Addison, Texas, into liquidation. NCUA made the decision to close Kappa Alpha Psi Federal Credit Union and discontinue its operation after determining the credit union is minimally capitalized and there are no reasonable prospects for the credit union to achieve adequate capitalization. At the time of the liquidation, the $780,000 credit union, chartered in 2004, served 1,341 members. www.ncua.gov/news/press_releases/2010/MR10-0830KappaAlphaPsiFCUCloses1FINAL.pdf  

August 3, 2010 - Little Rock Branch of the Federal Reserve Bank of St. Louis To Host Dialog on Addressing the Achievement Gap.  www.stlouisfed.org/newsroom/displayNews.cfm?article=729

August 3, 2010 - Louisville Branch of the Federal Reserve Bank of St. Louis To Host Dialog on Addressing the Achievement Gap.  www.stlouisfed.org/newsroom/displayNews.cfm?article=726

August 3, 2010 - Memphis Branch of the Federal Reserve Bank of St. Louis To Host Dialog on Addressing the Achievement Gap.  www.stlouisfed.org/newsroom/displayNews.cfm?article=728 

August 3, 2010 - St. Louis Fed To Host Dialogue on Closing the Achievement Gap and Developing Community Leadership.  www.stlouisfed.org/newsroom/displayNews.cfm?article=727 

August 3, 2010 - Payment Systems - Quarterly Payment System Risk data through 2010: Q2.  www.federalreserve.gov/paymentsystems/psr_data.htm

August 3, 2010 - The Federal Reserve Board on ­­Tuesday announced the execution of a Written Agreement by and among Citizens Republic Bancorp, Inc., Flint, Michigan, a registered bank holding company, Citizens Bank, Flint, Michigan, a state-chartered member bank, the Federal Reserve Bank of Chicago, and the Michigan Office of Financial and Insurance Regulation. www.federalreserve.gov/newsevents/press/enforcement/20100803c.htm 

August 3, 2010 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between The Prosperity Banking Company, St. Augustine, Florida, a registered bank holding company, and the Federal Reserve Bank of Atlanta. www.federalreserve.gov/newsevents/press/enforcement/20100803b.htm

August 3, 2010 - The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Community Capital Corporation, Greenwood, South Carolina, a registered bank holding company, CapitalBank, Greenwood, South Carolina, a state-chartered member bank, the Federal Reserve Bank of Richmond, and the State of South Carolina Board of Financial Institutions. www.federalreserve.gov/newsevents/press/enforcement/20100803a.htm

August 2, 2010 - How Effective is Federal Aid to States? - In Economic Perspectives, authors find timing of federal aid, both when it starts and stops, is critical and suggest ways to trigger aid more effectively. www.chicagofed.org/digital_assets/publications/economic_perspectives/2010/3qtr2010_part1_mattoon_haleco%20meyer_foster.pdf

August 2, 2010 - Relationship Between Large Deficits and Inflation in Industrialized Countries - Economic Perspectives illustrates that in industrialized countries, large deficits are not associated with higher inflation contemporaneously, nor with higher inflation in subsequent years. www.chicagofed.org/digital_assets/publications/economic_perspectives/2010/3qtr2010_part2_bassetto_butters.pdf

August 2, 2010 - NCUA - Certified Federal Credit Union Closes; Members Now Served by Vons Employees Federal Credit Union - Service to Members Continues Uninterrupted; Deposits Federally Insured to $250,000 - The National Credit Union Administration liquidated Certified Federal Credit Union of Commerce, California, July 31, 2010. www.ncua.gov/news/press_releases/2010/MR10-0802CertifiedFCUCloses.pdf

August 2, 2010 - OCC National Appeals Process Ensures Fairness in Bank Supervision - When national banks disagree with appealable agency decisions, the OCC has a clear process for hearing and resolving those differences. www.occ.treas.gov/ftp/release/2010-87.htm

August 2, 2010 - Implementation of Registration Requirements for Federal Mortgage Loan Originators - On July 28, 2010, the Federal Financial Institutions Examination Council member agencies1 and the Farm Credit Administration jointly published rules implementing the Secure and Fair Enforcement for Mortgage Licensing Act .2 Accordingly, implementing amendments to the Board’s Regulation H are effective on October 1, 2010. S.A.F.E. Act requirements and implementation considerations are discussed briefly below. More detailed information is available in the Federal Register notice.  www.federalreserve.gov/boarddocs/srletters/2010/sr1014.htm

August 2, 2010 - Chairman Ben S. Bernanke -Challenges for the Economy and State Governments - At the Annual Meeting of the Southern Legislative Conference of the Council of State Governments, Charleston, South Carolina.  www.federalreserve.gov/newsevents/speech/bernanke20100802a.htm

August 2, 2010 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among Citizens Effingham Bancshares, Inc., Springfield, Georgia, a registered bank holding company, the Federal Reserve Bank of Atlanta, and the Banking Commissioner of the State of Georgia. www.federalreserve.gov/newsevents/press/enforcement/20100802b.htm

August 2, 2010 - The Federal Reserve Board on Monday announced the execution of a Written Agreement by and among Oregon Pacific Bancorp, Florence, Oregon, a registered bank holding company, Oregon Pacific Bank, Florence, Oregon, a state-chartered member bank, the Federal Reserve Bank of San Francisco, and the Oregon Department of Consumer and Business Services Division of Finance and Corporate Securities. www.federalreserve.gov/newsevents/press/enforcement/20100802a.htm