By Fed Newswire | Feb 16, 2018
News Release: The Federal Reserve Board on Friday announced that it is seeking to permanently bar Peter Little, the former head of the foreign exchange (FX) spot desk at Barclays Bank PLC in New York, from employment in the banking industry and to impose a $487,500 fine on him.
By Fed Newswire | Feb 15, 2018
News Release: The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Clear Mountain Bank, Bruceton Mills, West Virginia Order of Assessment of a Civil Money Penalty, dated Feb. 13, 2018 Search of Federal Reserve enforcement actions. For media inquiries, call 202-452-2955.
By Fed Newswire | Feb 15, 2018
News Release: The Federal Reserve Board on Thursday ordered Minneapolis-based US Bancorp to improve risk management and oversight of its banking subsidiaries' compliance with U.S. economic sanctions, and Bank Secrecy Act and anti-money-laundering requirements. The Board also required US Bancorp to ensure that firm personnel make timely and complete disclosures to regulatory authorities and imposed a $15 million penalty.
By Fed Newswire | Feb 13, 2018
News Release: Chairman Jerome H. Powell on Tuesday participated in a ceremonial swearing-in event in the atrium of the Board's main building in Washington. Witnesses included the Chairman's wife, Elissa Leonard; other relatives and friends; and Board employees. Other guests included current and former Federal Reserve, Treasury, and financial regulatory agency officials.
By Fed Newswire | Feb 13, 2018
News Release: The Federal Reserve Board on Tuesday announced the execution of the enforcement action listed below: Consent Order of Prohibition against Eric Scott Darty, a former employee of Compass Bank, Birmingham, Alabama, for embezzling money from bank customers for his personal gain.
By Fed Newswire | Feb 12, 2018
News Release: The Federal Reserve Board on Monday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Howard Bancorp, Inc., Ellicott City, Maryland, to acquire First Mariner Bank, Baltimore, Maryland.
By Fed Newswire | Feb 8, 2018
News Release: The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Notice of Intent to Prohibit Jacob H. Goldstein, former president and CEO of NBRS Financial, Rising Sun, Maryland, for engaging in self-dealing transactions involving bank loans and withholding material information from the NBRS board of directors.
By Fed Newswire | Feb 6, 2018
News Release: The Federal Reserve Board on Tuesday announced the termination of the enforcement action listed below: CBOA Financial, Inc., Tucson, Arizona Written Agreement dated May 28, 2014 Terminated Feb. 2, 2018 The enforcement action from May 2014 can be found here (PDF) and other enforcement actions can be searched for here.
By Fed Newswire | Feb 5, 2018
News Release: Jerome H. Powell on Monday took the oath of office as Chairman of the Board of Governors of the Federal Reserve System, succeeding Janet L. Yellen. The oath was administered by Vice Chairman Randal K. Quarles in the Board Room.
By Fed Newswire | Feb 5, 2018
News Release: Five federal agencies propose to amend swap margin requirements to conform with recent rule changes that impose new restrictions on certain qualified financial contracts (QFCs) of systemically important banking organizations. Under the proposed amendments, legacy swaps entered into before the applicable compliance date would not become subject to the margin requirements if they are amended solely to comply with the requirements of the QFC Rules.
By Fed Newswire | Feb 1, 2018
News Release: The Federal Reserve Board on Thursday released the scenarios banks and supervisors will use for the 2018 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act stress test exercises, and issued instructions to firms participating in CCAR.
By Fed Newswire | Jan 31, 2018
News Release: The Federal Open Market Committee, at its annual organizational meeting this week, unanimously selected Jerome H. Powell to serve as its Chairman, effective Feb. 3, 2018. He is scheduled to be sworn in as Chairman of the Board of Governors of the Federal Reserve System on the next business day at approximately 9 a.m. EST February 5.
By Fed Newswire | Jan 31, 2018
News Release: The Federal Open Market Committee, at its annual organizational meeting this week, unanimously reaffirmed its "Statement of Longer-Run Goals and Monetary Policy Strategy" with an updated reference to the median of participants' estimates of the longer-run normal rate of unemployment in the most recent Summary of Economic Projections (December 2017).
By Fed Newswire | Jan 31, 2018
News Release: Information received since the Federal Open Market Committee met in December indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. Gains in employment, household spending, and business fixed investment have been solid, and the unemployment ...
By Fed Newswire | Jan 30, 2018
News Release: The Federal Reserve Board announced the termination of the enforcement action listed below: Bank of Gueydan, Gueydan, Louisiana Written Agreement issued Aug. 12, 2014 Terminated Jan. 25, 2018 The enforcement action from August 2014 can be found here , and other enforcement actions can be searched for here.
By Fed Newswire | Jan 29, 2018
News Release: The Federal Reserve Board and the Federal Deposit Insurance Corporation on Monday communicated their expectations to 19 foreign-based banking organizations for the firms' next resolution plans.
By Fed Newswire | Jan 25, 2018
News Release: The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Jeffrey R. Davis Former Vice President of Loans; Putnam County Bank, Hurricane, West Virginia Consent cease and desist order and $25,000 civil money penalty Dated Jan. 24, 2018 Search of Federal Reserve enforcement actions. For media inquiries, call 202-452-2955.
By Fed Newswire | Jan 25, 2018
News Release: The federal bank regulatory agencies today announced they will give favorable consideration under Community Reinvestment Act (CRA) regulations to institutions that are located outside of the U.S. Virgin Islands and Puerto Rico, which were designated as major disaster areas in the aftermath of Hurricane Maria, for bank activities that help to revitalize or stabilize these areas.
By Fed Newswire | Jan 23, 2018
News Release: The Federal Reserve Board on Tuesday announced its approval of the notice under section 4 of the Bank Holding Company Act of 1956 by Associated Banc-Corp, Green Bay, Wisconsin, to acquire Bank Mutual Corporation ("BMC"), Milwaukee, Wisconsin, and thereby indirectly acquire BMC's subsidiary savings association, Bank Mutual, Brown Deer, Wisconsin.
By Fed Newswire | Jan 23, 2018
News Release: The Federal Reserve Board on Tuesday announced the termination of the enforcement action listed below: Heartland Bank, Little Rock, Arkansas, PCA Directive dated Aug. 15, 2017 Terminated Jan. 18, 2018 The enforcement action from August 2017 can be found here and other enforcement actions can be searched for here.
