Board Actions

Acquisition of Wachovia Corporation by Wells Fargo & Company -- statement by Scott G. Alvarez, general counsel, before the Financial Crisis Inquiry Commission.
-Published, September 1, 2010

Causes of the Recent Financial and Economic Crisis -- statement by Chairman Ben S. Bernanke before the Financial Crisis Inquiry Commission.
-Published, September 2, 2010

China Investment Corporation, Beijing, People's Republic of China -- to acquire indirectly up to 10 percent of the voting shares of Morgan Stanley, New York, New York.
-Approved, August 31, 2010

Metcalf Bank, Lee's Summit, Missouri -- to acquire certain assets and assume certain liabilities of four branches of The First National Bank of Olathe, Olathe, Kansas, and thereby establish branches.
-Approved, September 1, 2010

Forms -- final Board review to extend without revision the Surveys of Board Publications (FR 1373a,b), Interagency Bank Merger Act Application (FR 2070), Interagency Notice of Change in Bank Control (FR 2081a), Interagency Notice of Change in Director or Senior Executive Officer (FR 2081b), and Interagency Biographical and Financial Report (FR 2081c), and Recordkeeping and Disclosure Requirements Associated with Regulation R (FR 4025).
-Approved, August 31, 2010

Regulation GG (Prohibition on Funding of Unlawful Internet Gambling) -- petition for a rulemaking by the Poker Players Alliance requesting that the Board and Department of the Treasury exclude Internet pari-mutuel animal racing and "skill games" offered on the Internet (including poker) from the scope of the regulation.
-Denied, August 31, 2010

First American Bancorp, Greenwood Village, Colorado, and First American State Bank -- written agreement with the Federal Reserve Bank of Kansas City and the State of Colorado Division of Banking.
-Announced, August 31, 2010

First Community Bank, Taos, New Mexico -- issuance of a prompt corrective action directive with the consent of the bank.
-Announced, August 31, 2010

First National Bancorporation of Stoughton, Inc., Stoughton, Wisconsin -- written agreement with the Federal Reserve Bank of Chicago.
-Announced, September 2, 2010

Highland Bancshares, Inc., St. Michael, Minnesota -- written agreement with the Federal Reserve Bank of Minneapolis.
-Announced, August 30, 2010

Oregon Community Bank & Trust, Oregon, Wisconsin -- written agreement with the Federal Reserve Bank of Chicago and the State of Wisconsin Department of Financial Institutions.
-Announced, September 2, 2010

Osceola Bancorporation, Inc., Osceola, Wisconsin -- written agreement with the Federal Reserve Bank of Minneapolis.
-Announced, September 2, 2010

Sunrise Bank, Cocoa Beach, Florida -- issuance of a prompt corrective action directive with the consent of the bank.
-Announced, August 30, 2010

UCB Financial Group, Inc., Atlanta, Georgia -- written agreement with the Federal Reserve Bank of Atlanta and the Banking Commissioner of the State of Georgia.
-Announced, August 30, 2010