Board Actions

Forms -- final Board review to extend without revision the Home Mortgage Disclosure Act Loan/Application Register (FR HMDA/LAR) and Disclosure Requirements of Regulation CC (Expedited Funds Availability Act) and to extend with revision the Intermittent Survey of Businesses (FR 1374).
-Approved, August 19, 2010

Regulation Z (Truth in Lending) -- (1) publication for comment of amendments to enhance consumer protections and disclosures for home mortgage transactions, including disclosures regarding a consumer's right to rescind certain loans secured by his or her principal dwelling, and disclosures and rules applicable to reverse mortgages, and (2) final rules to implement a statutory requirement that consumers receive a written notice after their mortgage loan is sold or transferred.
-Announced, August 16, 2010

Regulation Z (Truth in Lending) -- (1) interim final rule with request for comment to revise the disclosure requirements for scheduled payments for closed-end mortgage loans and (2) publication for comment of amendments to revise the escrow account requirements for higher-priced, first-lien "jumbo" mortgage loans.
-Announced, August 16, 2010

Regulation Z (Truth in Lending) -- final rules regarding certain loan-originator compensation practices for closed-end mortgage transactions, including rules to prohibit loan originators from directing, or "steering," consumers to loans that are not in their interest in order to increase the originator's compensation.
-Announced, August 16, 2010

Barclays Bank PLC, London, England, and its New York, New York branch -- issuance by the Board and the New York State Banking Department of a consent cease and desist order against the bank and branch.
-Announced, August 18, 2010

Battle Creek State Company, Inc., Battle Creek, Nebraska, and Battle Creek State Bank -- written agreement with the Federal Reserve Bank of Kansas City and the Nebraska Department of Banking and Finance.
-Announced, August 19, 2010

First Banking Center, Burlington, Wisconsin -- issuance of a prompt corrective action directive with the consent of the bank.
-Announced, August 16, 2010

Madison Financial Corporation, Richmond, Kentucky, and Madison Bank -- written agreement with the Federal Reserve Bank of Cleveland and the Commonwealth of Kentucky Department of Financial Institutions.
-Announced, August 16, 2010

MidSouth Bank, Murfreesboro, Tennessee -- written agreement with the Federal Reserve Bank of Atlanta.
-Announced, August 19, 2010

Texas Star Bank, Van Alstyne, Texas -- issuance of a consent order of assessment of a civil money penalty.
-Announced, August 17, 2010

Union Bancshares, Inc., Marksville, Louisiana -- written agreement with the Federal Reserve Bank of Atlanta and the Louisiana Office of Financial Institutions.
-Announced, August 19, 2010

Wisconsin Bancshares, Inc., Kenosha, Wisconsin -- written agreement with the Federal Reserve Bank of Chicago.
-Announced, August 18, 2010