Bank Regulatory News
June 2001

June 29, 2001 - The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in May. No administrative hearings are scheduled for July.
www.fdic.gov/news/news/press/2001/pr4801.html

June 29, 2001 - Reports - Statistical Releases E.16 Country Exposure Lending Survey
http://www.ffiec.gov/e16.htm

June 29, 2001 - THE TRANSFORMATION OF BANKING AND ITS IMPACT ON CONSUMERS AND SMALL BUSINESSES - In the past decade, mergers, Internet banking, and the combination of banking with other financial services have changed the landscape of banking.
www.kc.frb.org/pubaffrs/pressrel/pr01-08.htm

June 29, 2001 - IS THE LARGE U.S. CURRENT ACCOUNT DEFICIT SUSTAINABLE? - After growing consistently since 1991, the U.S. current account deficit as a share of GDP has hit record levels.
www.kc.frb.org/pubaffrs/pressrel/pr01-09.htm

June 29, 2001 - WHAT ARE THE BENEFITS OF HOSTING A MAJOR LEAGUE SPORTS FRANCHISE? - Cities across the country spend huge amounts of public funds on new stadiums for major league teams, justifying the expenses with promises of new jobs and increased tax revenues.
www.kc.frb.org/pubaffrs/pressrel/pr01-10.htm

June 29, 2001 - SEC Interim Final Rules Description: Title II of Gramm-Leach-Bliley Act - The Securities and Exchange Commission recently adopted interim final rules that have significant implications for banks' securities, fiduciary and custody activities.
Press Release -www.occ.treas.gov/ftp/bulletin/2001-30.txt
Attachment - www.occ.treas.gov/ftp/bulletin/2001-30a.pdf

June 29, 2001 - OTS Announces 11 CRA Ratings - WASHINGTON -- The Office of Thrift Supervision (OTS) today announced savings associations' Community Reinvestment Act (CRA) performance evaluation ratings that became available in May 2001.
www.ots.treas.gov/docs/77141.html

June 29, 2001 - NCUA ANNOUNCES CLIFFORD R. NORTHUP AS AGENCY’S DIRECTOR OF PUBLIC AND CONGRESSIONAL AFFAIRS - NCUA Acting Chairman Dennis Dollar announced today that he plans to appoint Clifford R. Northup as the agency’s Director of Public and Congressional Affairs.
www.ncua.gov/news/press_releases/nr062901.html

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June 29, 2001 - NCUA - 5310 Corporate Call Reports available for April 2001 www.ncua.gov/data/5310/5310rpt.html 

June 28, 2001 - The Federal Reserve Board announced today the approval of the application of Banco Pastor, S.A., A Coruña, Spain, to establish an agency in Miami, Florida. www.federalreserve.gov/boarddocs/press/BHC/2001/20010628/default.htm 

June 28, 2001 - Banking Agencies Issue Host State Loan-to-Deposit Ratios -The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. www.federalreserve.gov/boarddocs/press/General/2001/20010628/default.htm 

June 28, 2001 - Federal Financial Institutions Examination Council, Washington, DC - Annual Report http://www.ffiec.gov/PDF/annrpt00.pdf 

June 28, 2001 - The Federal Reserve Board today approved actions by the Boards of Directors of the Federal Reserve Banks of Cleveland, Richmond, Minneapolis and Kansas City, decreasing the discount rate at those banks from 3-1/2 percent to 3-1/4 percent, effective immediately. www.federalreserve.gov/boarddocs/press/BoardActs/2001/20010628/default.htm 

June 28, 2001 - Scheid to Represent Fed District in Washington, D.C. - Charles Schwab & Company executive, Steven L. Scheid, has been selected by the directors of the Federal Reserve Bank of San Francisco to serve as the bank's member of the Federal Advisory Council in Washington, D.C. for the remainder of 2001. www.frbsf.org/news/releases/2001/010628.html 

June 28, 2001 - Annual Loan-to-Deposit Ratios Date - The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation recently issued updated host state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. 
Press release - www.occ.treas.gov/ftp/bulletin/2001-29.txt  Bulletin - www.occ.treas.gov/ftp/bulletin/2001-29a.pdf 

June 28, 2001 - Alan Greenspan Cuts Ribbon for Chicago Fed Visitors Center New Visitors Facility will Open to Public July 7 www.chicagofed.org/newsandevents/pressreleases/2001/pr06282001.cfm 

June 28, 2001 - Survey of Credit Underwriting Practices www.occ.treas.gov/cusurvey/scup2001.pdf 

June 28, 2001 - NCUA Acting Chairman Dennis Dollar told a group of credit union representatives today that the annual NCUA budget process should be "more open to the stakeholders who fund this agency" and announced his intention to begin holding public hearings on the NCUA budget beginning with the agency’s 2002 budget. www.ncua.gov/news/press_releases/nr062801.html 

June 27, 2001 - Comptroller Views Underwriting Tightening Rational Response to Previous Lending Excesses - The OCC’s seventh annual Survey of Credit Underwriting Practices found that underwriting standards for commercial and retail loans tightened during the 12-month period ending March 31, 2001. 
Press release - www.occ.treas.gov/ftp/release/2001-59.txt  Survey - www.occ.treas.gov/cusurvey/scup2001.pdf 

June 27, 2001 - The Federal Open Market Committee at its meeting today decided to lower its target for the federal funds rate by 25 basis points to 3-3/4 percent. www.federalreserve.gov/boarddocs/press/general/2001/20010627/default.htm 

June 27, 2001 - NCUA - Seminar for Thrift Financial Managers For the third year, the OTS West Region will hold a Seminar for Thrift Financial Managers at various locations throughout the region. www.ots.treas.gov/pagehtml.cfm?catNumber=30 

June 26, 2001 - Investment Watch for 1st Quarter 2001 www.ncua.gov/ref/Investment/investm01.html 

June 26, 2001 - Chicago Fed Releases Easy-to-Read Guide to Recent Research The Federal Reserve Bank of Chicago recently released the April edition of Policy Issues, a newly created periodic digest that summarizes research, analyses and policy positions produced by the Chicago Fed. www.chicagofed.org/newsandevents/pressreleases/2001/pr06262001.cfm 

June 26, 2001 - Legal Interpretations Exemption from section 23A of the Federal Reserve Act (Relations with Affiliates)--Wells Fargo Bank. www.federalreserve.gov/boarddocs/legalint/federalreserveact/2001/20010108/ 

June 26, 2001 - Legal Interpretations Exemption from section 23A of the Federal Reserve Act (Relations with Affiliates)--HSBC Bank. www.federalreserve.gov/boarddocs/legalint/federalreserveact/2000/20001121/ 

June 26, 2001 - Legal Interpretations Exemption from section 23A of the Federal Reserve Act (Relations with Affiliates)--Chase Manhattan. www.federalreserve.gov/boarddocs/legalint/federalreserveact/2000/20000818/ 

June 26, 2001 - Legal Interpretations Clarification of anti-tying exemption in Regulation. www.federalreserve.gov/boarddocs/legalint/bhc_changeincontrol/2001/20010516/ 

June 26, 2001 - Legal Interpretations Joint agency interpretation of Board's Regulation P (Privacy of Consumer Financial Information). www.federalreserve.gov/boarddocs/legalint/privacy/2001/20010525/default.htm 

June 25, 2001 - Consolidated Reports of Condition and Income for A Bank With Domestic Only-FFIEC 041. www.ffiec.gov/PDF/FFIEC_forms/FFIEC041_200106.pdf 

June 25, 2001 - Consolidated Reports of Condition and Income for A Bank With Domestic and Foreign Offices - FFIEC 031. www.ffiec.gov/PDF/FFIEC_forms/FFIEC031_200106.pdf 

June 25, 2001 - Comptroller of the Currency John D. Hawke, Jr. announced today that Douglas W. Roeder has been appointed Senior Deputy Comptroller for Large Banks. www.occ.treas.gov/ftp/release/2001-58.txt 

June 25, 2001- The Federal Reserve Board today announced its approval of the application by Central State Bank, Muscatine, Iowa, to purchase the assets and assume the liabilities of the Muscatine branch of Commercial Federal Bank, Omaha, Nebraska. www.federalreserve.gov/boarddocs/press/BHC/2001/200106252/default.htm 

June 25, 2001- The Federal Reserve Board today announced its approval of the application of BB&T Corporation, Winston-Salem, North Carolina, to acquire F&M National Corporation, Winchester, Virginia, and its eleven wholly owned subsidiary banks. www.federalreserve.gov/boarddocs/press/BHC/2001/20010625/default.htm 

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June 22, 2001 - As Economy Slows, FDIC Reports On Banking Industry Readiness - U.S. banks generally are well positioned to deal with difficulties if the economy continues to slow, the Federal Deposit Insurance Corporation reported today.   
www.fdic.gov/news/news/press/2001/pr4601.html

June 22, 2001 - Reports of Condition and Income (Call Report) for Second Quarter 2001 - The enclosed materials pertain to the Reports of Condition and Income (Call Report) for the June 30, 2001, report date.   
www.fdic.gov/news/news/financial/2001/fil0155.html

June 21, 2001 - NCUA - New NCUA Organizational Chart   
www.ncua.gov/org/orgchart.html

June 21, 2001 - NCUA - 2000 NCUA Annual Report   
www.ncua.gov/ref/annualrpt/2000AR.pdf

June 21, 2001 - The National Credit Union Administration announced that it has issued an Order of Prohibition against Walter W. Jordan, an independent contractor performing collection work for the Musicians Credit Union, located in Hollywood, California.   
www.ncua.gov/news/press_releases/pr062101.html

June 21, 2001 - NCUA - The Freedom of Information Act (FOIA) permits agencies to recover some of the costs of processing a FOIA request from the requester.   
www.ncua.gov/ref/foia/feesched.html

June 21, 2001- The Federal Reserve Board today announced the issuance of an Order of Prohibition against Nelly Kann de Gouverneur, a former employee and institution-affiliated party of Banco Mercantil, C.A., S.A.C.A., New York Agency, New York. 
 www.federalreserve.gov:80/boarddocs/press/Enforcement/2001/20010621/default.htm

June 20, 2001 - OTS Issued Two Enforcement Orders In April - The Office of Thrift Supervision reported today that it issued a cease and desist order and civil money penalty both dated April 17, to Dennis M. Ware, former employee of Banco Popular, Newark, New Jersey.  
www.ots.treas.gov/docs/77140.html

June 20, 2001 - Testimony of Chairman Alan Greenspan - Condition of the U.S. banking system Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate  
www.federalreserve.gov/boarddocs/testimony/2001/20010620/default.htm

June 20, 2001 - The nation’s thrift industry and its primary regulator, the Office of Thrift Supervision, are “strong and prepared to meet the challenges ahead,” OTS Director Ellen Seidman testified today at a Senate Banking Committee oversight hearing on the condition of the U.S. financial system.   
www.ots.treas.gov/docs/77139.html

June 20, 2001 - NCUA - May 2001 Regional Director’s Actions Taken Under Delegation of Authority www.ncua.gov/ref/delegated/del0501.pdf

June 19, 2001 - OCC ANNOUNCES 9 NEW ENFORCEMENT ACTIONS AND 1 TERMINATION - The Office of the Comptroller of the Currency (OCC) today announced 9 new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and 1 termination of an existing enforcement action.   
www.occ.treas.gov/ftp/release/2001-56.txt

June 19, 2001 - Quarterly Examination Schedule Third Quarter 2001  
www.federalreserve.gov/DCCA/CRA/Exam2001q3.htm

June 18, 2001 - NCUA - Legal Opinion Letter 01-0502 -- Re: Mortgage Servicing as a Charitable Contribution  
www.ncua.gov/ref/opinion_letters/01-0502.html

June 18, 2001 -  Specially Designated Nationals and Blocked Persons - On June 1, 2001, the Department of the Treasury's Office of Foreign Assets Control (OFAC) amended its listing of specially designated nationals and blocked persons by adding 12 new names to its list of Specially Designated Narcotics Traffickers   
www.fdic.gov/news/news/financial/2001/fil0153.html

June 18, 2001 - Steps to Help Rebuild Areas Affected by Tropical Storm Allison - The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to facilitate the process of rebuilding in Houston and surrounding communities damaged by the storm.    
www.fdic.gov/news/news/financial/2001/fil0154.html

June 18, 2001- OCC Reports Record Derivatives Trading Revenue for Banks - U.S. commercial banks earned a record $4 billion from cash instruments and derivatives activities in the first quarter of 2001, an increase of $1.2 billion over the fourth quarter of 2000.   
Press release - www.occ.treas.gov/ftp/release/2001-54.txt
Attachment - www.occ.treas.gov/ftp/deriv/dq101.pdf

June 18, 2001 - Summary of June14, 2001 NCUA Closed Board Meeting - www.ncua.gov/news/board_reports/closedbab061401.html

June 18, 2001 - NCUA - Call Report forms and software are available.    
www.ncua.gov/data/5300/5300.html

June 15, 2001 - INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION - Industrial production contracted 0.8 percent in May, to 143.1 percent of its 1992 average. After eight consecutive months of decline, industrial production in May was nearly 3 percent below its level in May 2000.    
www.federalreserve.gov/releases/g17/current/default.htm

June 15, 2001 - OCC RELEASES CRA EVALUATIONS FOR 18 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 May 15 through June 14.  
http://www.occ.treas.gov/cra/jun01.htm

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June 15, 2001 - INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION - Industrial production contracted 0.8 percent in May, to 143.1 percent of its 1992 average. After eight consecutive months of decline, industrial production in May was nearly 3 percent below its level in May 2000.  www.federalreserve.gov/releases/g17/current/default.htm 

June 15, 2001 - Truth in Savings - NCUA is amending its regulation that implements the Truth in Savings Act (TISA). This interim final rule establishes uniform standards for the electronic delivery of disclosures required by TISA.  NCUA is also amending its regulation to address electronic advertisements. These amendments conform to the Electronic Signatures in Global and National Commerce Act (E-Sign Act).  www.ncua.gov/news/proposed_regs/12CFRPart707-interimfinal.html 

June 14, 2001 - Large Commercial Banks - The Federal Reserve Board compiles quarterly data on domestically chartered insured commercial banks that have consolidated assets of $100 million or more and releases the data about twelve weeks after the end of each quarter. 
www.federalreserve.gov/Releases/lbr/default.htm 
www.federalreserve.gov/Releases/lbr/lrg_bnk_lst.pdf 

June 14, 2001 -  The NCUA Board is proposing amendments to various rules to make technical corrections and add and revise certain definitions.  The Board is proposing a rule to add a scope section and definitions of “paid-in and unimpaired capital and surplus” and “unimpaired capital and surplus” to its rule containing definitions.   www.ncua.gov/news/proposed_regs/12CFRPart700-790-proposed.html 

June 14, 2001 - A SUMMARY OF ACTIONS TAKEN BY THE NCUA BOARD - Charter modifications, National corporate FOM amended, Standards set for electronic Truth in Savings disclosures, Housekeeping amendments proposed.  http://www.ncua.gov/news/board_reports/BAB061401.html 

June 13, 2001 - The Office of the Comptroller of the Currency (OCC) has asked the Federal Deposit Insurance Corporation (FDIC) to circulate information to FDIC-supervised institutions about fictitious documents that contain proposals suggesting that individuals can claim certain international payments reportedly being held by the OCC.   www.fdic.gov/news/news/financial/2001/fil0152.html 

June 13, 2001 - FRB - Most districts report that economic activity was little changed or decelerating in April and May. Retail sales and tourism have been slow to flat across the nation. www.federalreserve.gov/FOMC/BeigeBook/2001/20010613/Default.htm 

June 13, 2001 - These data are compiled from the quarterly FFIEC (Federal Financial Institutions Examination Council) Consolidated Reports of Condition and Income (FFIEC 031 through 034). Data for each calendar quarter become available approximately sixty days after the end of the quarter. With the exception of the delinquency rates for the 100 largest banks, all of the historical series were revised as of June 13, 2001.  www.federalreserve.gov/Releases/ChargeOff/default.htm 

June 13, 2001 - The Profitability of Credit Card Operations of Depository Institutions - Analyzes the profitability over time of depository institutions' credit card activities by examining the performance of larger institutions that specialize in such activities and of a sample of smaller commercial banks that offer a range of credit services. Also reviews trends in credit card pricing, including changes in interest rates.   www.federalreserve.gov/boarddocs/RptCongress/#creditcard   www.federalreserve.gov/boarddocs/RptCongress/creditcard/2001/ccprofit.pdf 

June 12, 2001 - DONNA TANOUE ANNOUNCES HER RESIGNATION AS CHAIRMAN OF THE FDIC - Donna Tanoue today announced that she has submitted her resignation as Chairman of the Federal Deposit Insurance Corporation, effective July 11, 2001.  http://www.fdic.gov/news/news/press/2001/pr4501.html 

June 12, 2001 - Statement by OTS Director Ellen Seidman On the Resignation of FDIC Chairman Donna Tanoue – Office of Thrift Supervision Director Ellen Seidman issued the following statement today on the resignation of Donna Tanoue as FDIC chairman.  http://www.ots.treas.gov/docs/77138.html 

June 11, 2001 - OCC Encourages National Banks to Work with Customers Affected by Floods in Houston Area The Office of the Comptroller of the Currency (OCC) has outlined measures to assist national banks and their customers affected by the floods in the Houston area. The OCC regulates national banks.  http://www.occ.treas.gov/ftp/release/2001-53.txt 

June 11, 2001— The National Credit Union Administration is planning for the future and asking for input in the process for a detailed review of the agency’s 2003-2008 strategic plan.  http://www.ncua.gov/news/press_releases/nr061101.html 

June 11, 2001 - NCUA disaster assistance activated for southeast Texas – The National Credit Union Administration today activated its disaster relief policy to assist credit unions and their members in Houston and 28 southeast Texas counties declared federal disaster areas after thousands of businesses and homes were damaged or destroyed by flooding caused by Tropical Storm Allison.  http://www.ncua.gov/news/press_releases/pr061101.html 

June 11, 2001 - NCUA’s Texas regional office today filed the following initial damage report following last weeks extensive flooding in 28 Texas counties.  http://www.ncua.gov/news/press_releases/pr061101b.html 

June 11, 2001 - National Credit Union Association - April 2001 Regional Director’s Actions Taken Under Delegation of Authority.  http://www.ncua.gov/ref/delegated/del0401.pdf 

June 9, 2001 - NCUA Acting Chairman Dennis Dollar emphasized today at the 27th Annual Meeting of the National Federation of Community Development Credit Unions that the National Credit Union Administration is focusing on opportunities to enhance the Office of Credit Union Development’s service and assistance for the nation’s credit unions, including an ongoing emphasis on assisting small and low-income credit unions.   http://www.ncua.gov/news/press_releases/nr060901.html 

June 8, 2001 - 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 

June 8, 2001 - OCC Announces Pilot Program to Enhance Lending Capacity And Alleviate Competitive Disparities for Community National Banks - Comptroller of the Currency John D. Hawke, Jr. announced today a pilot program intended to address the competitive disparity that exists in states that have higher lending limits for state-chartered institutions than the federal limits available to national banks.  http://www.occ.treas.gov/ftp/release/2001-52.txt 

June 7, 2001 - Construction and Development Lending.  You have asked us to clarify how the 35% equity requirement for construction and development (C & D) loans under NCUA’s member business loan rule applies in practice.   http://www.ncua.gov/ref/opinion_letters/01-0422.html 

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June 7, 2001 - Commercial banking industry profits rebounded in the first quarter of 2001 to a record $19.9 billion, up from $17.7 billion in the fourth quarter of 2000, the Federal Deposit Insurance Corporation announced Thursday. www.fdic.gov/news/news/press/2001/pr4401.html 

June 7, 2001 – St. Louis FRB - U.S. Financial Data - Output per hour (productivity) in the nonfarm business sector fell at a revised 1.2 percent annual rate during the first quarter. http://www.stls.frb.org:80/fred/data/wkly/cover  

June 6, 2001 - Specially Designated Nationals and Blocked Persons - On May 16, 2001, the Secretary of State published in the Federal Register the notice that the following organization has been designated as a foreign terrorist organization: the "Real IRA" (a.k.a. "32 County Sovereignty Committee"; a.k.a. "32 County Sovereignty Movement"; a.k.a. "Irish Republican Prisoners Welfare Association"; a.k.a. "Real Irish Republican Army"; a.k.a. "Real Oglaigh Na Heireann"; a.k.a. "RIRA").  The name has also been added to the Department of the Treasury's Office of Foreign Assets Control (OFAC) listing of specially designated nationals and blocked persons as a foreign terrorist organization. www.fdic.gov/news/news/financial/2001/fil0151.html

June 6, 2001 - Earnings for the nation’s thrift industry jumped 12 percent in the first quarter of 2001 to $2.16 billion, the Office of Thrift Supervision (OTS) reported today. In its First Quarter 2001 Thrift Industry Data Report, OTS said that earnings were the highest since the first quarter of 2000 when they stood at $2.23 billion. Earnings were at $1.93 billion at the end of last quarter. http://www.ots.treas.gov/docs/77137.html 

June 5, 2001 – The National Credit Union Administration announced that it has issued an Order of Prohibition against Tressa Roberts, a former teller at Tri State Federal Credit Union located in Midland, Pennsylvania. http://www.ncua.gov/news/press_releases/pr060501.html 

June 5, 2001 - The FDIC today 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 March 2001.www.fdic.gov/news/news/press/2001/pr4301.html 

June 5, 2001 - OCC Issues Third Quarter 2001 CRA Examination Schedule WASHINGTON -- The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) examinations to be conducted in the third quarter of 2001. http://www.occ.treas.gov/ftp/release/2001-51.txt http://www.occ.treas.gov/ftp/release/2001-51a.pdf   

June 4, 2001 - The attached FDIC Bank Technology Bulletin introduces three short documents containing practical ideas for banks to consider when they engage in technology outsourcing. They are for informational purposes only and should not be considered examination procedures or official guidance. www.fdic.gov/news/news/financial/2001/fil0150.html   

June 4, 2001 - 2001 Economy to Experience Modest Growth, Then Pick Up in 2002 - Chicago Fed Auto Symposium Participants Predict.  http://www.chicagofed.org/newsandevents/pressreleases/2001/pr06042001.pdf

June 4, 2001 - Gwen Baker, Director, Regulatory Affairs National Association of Federal Credit Unions Re: Recreational Vehicles as Mobile Homes in NCUA Lending Rule.  http://www.ncua.gov/ref/opinion_letters/01-0262.html 

June 4, 2001- A SUMMARY OF ACTIONS TAKEN BY THE NCUA BOARD May 17, 2001  http://www.ncua.gov/news/board_reports/BAB051701.html 

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June 1, 2001 - Federal Deposit Insurance Corporation (FDIC) Inspector General Gaston L. Gianni, Jr., announced today that Clark K. Bush, former president of the Murphy-Wall State Bank in Pinckneyville, Illinois, has been indicted on eight criminal charges relating to alleged misconduct while serving as the bank's president.  http://www.fdic.gov/news/news/press/2001/pr4201.html 

June 1, 2001 - GE Bank Subsidiary Granted Federal Thrift Charter - GE Capital Consumer Card Co., Mason, Ohio, received approval from the Office of Thrift Supervision May 31 to switch from a state bank charter to a federal savings bank charter. Upon adopting the new charter, the savings bank will change its name to GE Financial Corp.  http://www.ots.treas.gov/docs/77135.html 

June 1, 2001 - FORMER FDIC EMPLOYEE SENTENCED IN IDENTITY FRAUD SCHEME
Federal Deposit Insurance Corporation (FDIC) Inspector General Gaston L. Gianni, Jr., announced today that former FDIC employee Theresa A. Hill of Seat Pleasant, MD, was sentenced on May 29, 2001, to five years of probation, including six months of home confinement, in connection with an identity fraud scheme. Ms. Hill was also ordered to pay $87,531 in restitution.  http://www.fdic.gov/news/news/press/2001/pr4101.html 

June 1, 2001 - The Federal Deposit Insurance Corporation (FDIC) has issued the public list of institutions that it has scheduled for a Community Reinvestment Act (CRA) examination during the third quarter of 2001. This list is published pursuant to revised CRA regulations published in May 1995 that require each Federal bank and thrift regulator to publish a quarterly CRA examination schedule at least 30 days before the beginning of each quarter.  http://www.fdic.gov/news/news/press/2001/pr4001.html