BHC letter and updated instructions for the reporting period ending March 31, 2014.
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.
A new final rule clarifies the types of guarantees eligible for treatment as regulatory capital under the advanced-approaches risk-based capital rule. The new rule takes effect October 1, 2014.
An amendment to Regulation V, effective 30 days from today, clarifies that the regulation’s provisions requiring identity theft prevention programs apply only to creditors that regularly extend credit or obtain consumer reports in the ordinary course of their business.
The National Federal Reserve Financial Services website presents the products and services available for institutions in the Fifth District.