FR 2900 Winter 2014 Newsletter
Changes to the posting rules for ACH and commercial check transactions, part of amendments to the Federal Reserve Policy on Payment System Risk (PSR Policy), take effect upon today’s publication in the Federal Register. Companion amendments to Regulation J take effect July 23, 2015.
The Federal Reserve Board has invited comment on new proposed enhanced prudential standards, published today in the Federal Register, for the regulation and supervision of General Electric Capital Corporation, a nonbank financial company that the Financial Stability Oversight Council designated for Board supervision. The deadline for public comments is February 2, 2015.
The counterfeit cashier's check scheme traditionally targets people who are selling items over the Internet or through classified ads. The cashier's check given to a seller and/or potential employee may be fraudulent and eventually returned to the bank.
The National Federal Reserve Financial Services website presents the products and services available for institutions in the Fifth District.