Board Actions

Derivatives Regulation -- statement by Governor Tarullo before the Senate Committee on Banking, Housing, and Urban Affairs regarding the Board's views on implementation of title VII of the Dodd-Frank Act.
-Published, April 12, 2011

Financial Stability Oversight Council -- statement by J. Nellie Liang, director, Office of Financial Stability Policy and Research, before a subcommittee of the House Committee on Financial Services on the Board's role as a member of the Financial Stability Oversight Council.
-Published, April 14, 2011

Risk Retention -- statement by Scott G. Alvarez, general counsel, before a subcommittee of the House Committee on Financial Services regarding implementation of the risk-retention requirements under the Dodd-Frank Act.
-Published, April 14, 2011

Savings and Loan Holding Companies -- publication for comment of the Board's notice of intent to apply certain parts of its current supervisory program for bank holding companies to savings and loan holding companies after assuming supervisory responsibility for them in July 2011, in accordance with the Dodd-Frank Act.
-Approved, April 14, 2011

Banco Industrial de Venezuela, C.A. (BIV), Caracas, Venezuela, and its agencies in New York, New York, and Miami, Florida -- issuance of a consent cease and desist order and assessment of civil money penalties by the Board, the New York State Banking Department, and the Florida Office of Financial Regulation.
-Announced, April 15, 2011

CenterBank, Inc., Jacksonville, Florida -- written agreement with the Federal Reserve Bank of Atlanta.
-Announced, April 12, 2011

Currie Bancorporation, Inc., Currie, Minnesota -- written agreement dated November 3, 2008, terminated April 12, 2011.
-Announced, April 14, 2011

Enforcement Actions -- issuance of consent orders to ten banking organizations (Bank of America Corporation; Citigroup Inc.; Ally Financial Inc.; HSBC North America Holdings, Inc.; JPMorgan Chase & Co.; MetLife, Inc.; The PNC Financial Services Group, Inc.; SunTrust Banks, Inc.; U.S. Bancorp; and Wells Fargo & Co.) and to two vendors to mortgage servicers (Lender Processing Services, Inc. and MERSCORP, Inc.) to address deficient practices in residential mortgage loan servicing and foreclosure processing.
-Announced, April 13, 2011

First Chicago Bank & Trust, Chicago, Illinois -- issuance of a prompt corrective action directive with the consent of the bank.
-Announced, April 12, 2011