On November 15, 2008, FinCEN will deploy new system enhancements to the Batch Validation process of the Bank Secrecy Act Electronic Filing System (BSA E-Filing). The goal of these enhancements is to improve BSA data quality by providing detailed error notifications to filers upon submission, which ultimately will...
The federal bank and thrift regulatory agencies (agencies) are seeking comment on the attached joint notice of proposed rulemaking (NPR) to permit banks, bank holding companies and savings associations (banking organizations) to assign a 10 percent risk weight to claims on or guaranteed by the Federal National...
The Financial Crimes Enforcement Network ("FinCEN") is withdrawing the notice of proposed rulemaking, dated May 5, 2003, in which FinCEN proposed requiring commodity trading advisors to establish and implement anti-money laundering programs.
The U.S. Department of the Treasury today designated three members of the Libyan Islamic Fighting Group (LIFG) under Executive Order 13224, which targets terrorists and the financial, technological, or material support networks of terrorists.
"LIFG, along with other al Qaida affiliates, seeks to exploit our...
The Federal Deposit Insurance Corporation (FDIC) is warning consumers, businesses and financial institutions to be aware of fraudulent e-mails allegedly from, or related to, financial institutions that have been the subject of recent news stories. Phishing e-mails often incorporate aspects of high-profile news stories...
Check truncation has not yet resulted in overall gains in economic efficiency for the Federal Reserve or for a sample of banks while Federal Reserve and bank officials expect efficiencies in the future. GAO's analysis of the Federal Reserve's cost accounting data suggests that its costs for check clearing may have...
Good morning. I am pleased to represent the Treasury Department at the Annual Meeting of the Securities Industry and Financial Markets Association (SIFMA). I welcome this opportunity to update you on the state of the capital markets and the global economy, and on Treasury's efforts to implement the Emergency Economic...
OTS, together with the other federal financial institution regulatory agencies and the Federal Trade Commission, issued final rules and guidelines on identity theft "red flags" and address discrepancies in November 2007. These rules and guidelines implement §§ 114 and 315 of the
Fair and Accurate Credit...
The Office of Thrift Supervision (OTS) issued examination procedures today on identity theft and address discrepancies.
OTS examiners will use these procedures, developed jointly with the other federal banking agencies, during examinations of OTS-supervised financial institutions beginning November 1, 2008, when...
In a speech to OCC managers this week, Comptroller of the Currency John C. Dugan discussed the agency's response to market events of the past year and lessons learned from those events.
I am really pleased to be here today - and really pleased not to be shuttling back and forth to the Treasury Department, which...
NIST assist agencies in building security into their IT development processes, resulting in more cost-effective, risk-appropriate security control identification, development and testing.
Alpha Bank and Trust, Alpharetta, Georgia, was closed today by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank, National Association, St. Cloud,...
On October 24, 2008, the FDIC was named as Receiver for Alpha Bank & Trust, Alpharetta, Georgia by the Georgia Department of Banking and Finance. All insured non-brokered deposits were transferred to the acquiring institution; for further information, please visit the FDIC web site: Alpha Bank & Trust (www.fdic.gov)....
Following a systemic risk determination pursuant to section 141 of the Federal Deposit Insurance Corporation Improvement Act of 1991, in an effort to avoid or mitigate serious adverse effects on economic conditions and financial stability, the FDIC has issued the attached interim rule establishing the Temporary...
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