The Fifth District Bank Holding Company 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 proposed rule would set registration and supervision requirements for appraisal management companies (AMCs), which act as intermediaries between appraisers and lenders. In states that don’t certify and license AMCs, the rule would bar AMCs from providing appraisal management services for real estate transactions involving federal regulated banking entities. Public comments are due in 60 days.
A new proposed rule, published today in the Federal Register, implements the Dodd-Frank Act’s requirements for emergency lending by the Federal Reserve. The deadline for public comment is March 7, 2014.
The National Federal Reserve Financial Services website presents the products and services available for institutions in the Fifth District.