Board Actions

Actions taken during the week ending May 26, 2007

Bank Holding Companies

C-B-G, Inc., West Liberty, Iowa -- to acquire additional shares of Washington Bancorp, Washington, and Federation Bank.
-Approved, May 23, 2007

Enforcement

East West Bank, Pasadena, California -- consent order of assessment of a civil money penalty.
-Announced, May 23, 2007

First Sentinel Bank, Richlands, Virginia -- consent order of assessment of a civil money penalty.
-Announced, May 23, 2007

Regulations And Policies

Home Equity Lending -- notice of topics to be discussed at a public hearing on June 14, 2007, on the home equity lending market and request for public comment (Docket No. OP-1288).
-Approved, May 23, 2007

Nontraditional Mortgage Products -- interagency notice of final illustrations of consumer information for nontraditional mortgage products (Docket No. OP-1267).
-Approved, May 25, 2007

Regulation O (Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks) -- final amendments to implement provisions of the Financial Services Regulatory Relief Act of 2006 that eliminated certain insider-lending reporting requirements.
-Approved, May 23, 2007

Regulation Z (Truth in Lending) -- publication for comment of amendments to the open-end credit account provisions of Regulation Z (Docket No. R-1268).
-Approved, May 23, 2007

Testimony And Statements

Subprime Lending -- statement by Sandra Braunstein, Director of the Division of Consumer and Community Affairs, before the House Domestic Policy Subcommittee of the Oversight and Government Reform Committee.
-Published, May 21, 2007