The Fifth District Bank Holding Company letter and updated instructions for the reporting period ending March 31, 2012.
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 proposal, published today in the Federal Register, would establish annual assessments on systemically important bank holding companies, savings and loan holding companies, and nonbank financial companies. These assessments are designed to cover the costs the Federal Reserve incurs supervising these entities. The deadline for comments is June 15.
The National Federal Reserve Financial Services website presents the products and services available for institutions in the Fifth District.