The Federal Deposit Insurance Corporation (FDIC) has become aware of e-mails appearing to be sent from the FDIC that are asking recipients to download and open a "personal FDIC insurance file" to check their deposit insurance coverage. These e-mails are fraudulent and were not sent by the FDIC. The FDIC is attempting to identify the source of the e-mails and disrupt the transmission.

Read the latest Consumer Compliance Outlook, which is a Federal Reserve System publication dedicated to consumer compliance issues. This edition provides some insights about a bank director's role in fostering an effective compliance culture as well as a closer look into the Mortgage Disclosure Improvement Act of 2008.

Read about the latest trends in the financial industry in the fourth issue of S&R Perspectives. This edition also reports on emerging risks in portable device security and recent efforts and tools to fight fraud.

Read the latest Consumer Compliance Outlook, which is a Federal Reserve System publication dedicated to consumer compliance issues. This issue features an interview with Sandra Braunstein, Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System.

This edition highlights information on a revision from FASB on fair value accounting guidance and limitations on interbank liabilities as well as other emerging issues.

Read more about the risk-based capital treatment for direct credit substitutes in this article.

Featured in the Spring edition of S&R Perspectives is a new section which highlights emerging trends and issues from the examination process.

The Fraud Awareness section has been updated to add information about Mortgage Foreclosure Rescue scams that was released by the Federal Reserve Board.

The BSA Coalition, a group of Fifth District bankers and regulators, has launched an independent Web site to encourage discussion about issues related to the Bank Secrecy Act and anti-money laundering efforts. The Richmond Fed serves as an advisor to the group.

The Fraud Awareness section has been updated to provide information about "smishing," a scheme that uses text messages to seek bank account information.