The Payments Law Reporter is published to coincide with meetings of the Payments Advisory Council of the Fifth Federal Reserve District, which presently meets three times per year. The Payments Law Reporter is a publication of the Legal Department of the Federal Reserve Bank of Richmond.
As part of a Federal Reserve effort to reduce burden, improve efficiency, and maintain the quality of its supervision, state member banks and U.S. branches and agencies of foreign banking organizations with less than $50 billion in total assets can now elect to allow Federal Reserve examiners to review loan files off-site.
New technical amendments to a rule finalized in 2015 would clarify the way global systemically important banks (GSIBs) must calculate systemic risk surcharges and report their surcharge data. The deadline for public comment is May 13, 2016.
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 Supervision News Flash helps you stay abreast of topics and trends affecting financial institutions in the Fifth Federal Reserve District. On a periodic basis we’ll share insights on what our examiners, analysts and economists are seeing both within the Richmond Fed’s portfolio as well as trends from across the entire System.
The National Federal Reserve Financial Services website presents the products and services available for institutions in the Fifth District.