Board Actions

Actions taken during the week ending May 25, 2019

Updated June 5, 2019

Banks, Foreign

Banco Santander, S.A., Madrid, Spain -- (1) to indirectly acquire shares of its majority-owned subsidiary, Santander Consumer USA Holdings Inc. (SC), Dallas, Texas; and (2) on a retroactive basis, to indirectly acquire shares of SC between August 2018 and January 2019.
-Approved, May 23, 2019

Monetary and Financial Policy

Term Deposit Facility -- floating-rate offering of seven-day term deposits with an early withdrawal feature, same-day settlement, and a maximum tender amount of $250 million on May 30, 2019.
-Announced, May 23, 2019

Personnel

Division of Monetary Affairs -- appointment of David Bowman as senior associate director and Jane Ihrig as senior adviser.
-Announced, May 24, 2019

Office of Inspector General -- appointment of Michael VanHuysen as assistant inspector general.
-Approved, May 20, 2019

Regulations and Policies

Minority Depository Institutions -- annual report to Congress on preserving minority depository institutions, in accordance with the Dodd-Frank Act.
-Published, May 24, 2019

Enforcement

The Croghan Colonial Bank, Fremont, Ohio -- issuance of a consent order of prohibition and cease-and-desist order against Katherine Tibboles, a former institution-affiliated party.
-Announced, May 21, 2019

Fulton Financial Corporation, Lancaster, Pennsylvania; and Lafayette Ambassador Bank, Bethlehem -- cease-and-desist order dated September 4, 2014, terminated May 20, 2019.
-Announced, May 23, 2019

Highlands Bankshares, Inc., Abingdon, Virginia; and Highlands Union Bank -- written agreement dated October 13, 2010, terminated May 16, 2019.
-Announced, May 21, 2019

United Bank Limited, Karachi, Pakistan; and United Bank Limited, New York Branch, New York, New York -- written agreement dated July 2, 2018, terminated May 20, 2019.
-Announced, May 23, 2019