Board Actions

Actions taken during the week ending August 8, 2015

Forms

Forms -- initial Board review to extend without revision the recordkeeping and disclosure requirements associated with the regulations implementing the Fair Credit Reporting Act (Regulation V).
-Proposed, August 3, 2015

Monetary and Financial Policy

Term Deposit Facility -- floating-rate offerings of 14-day and 7-day term deposits on August 6 and August 13, respectively, each with an early withdrawal feature, same-day settlement, and a maximum tender amount of $5 billion.
-Announced, August 3, 2015

Regulations and Policies

Regulation II (Debit Card Interchange Fees and Routing) -- publication of a clarification to provide further explanation of the inclusion of transaction-monitoring costs in the interchange fee standard.
-Approved, August 4, 2015

Enforcement

Four Oaks Bank & Trust Company, Four Oaks, North Carolina -- written agreement dated July 30, 2015, with the Federal Reserve Bank of Richmond.
-Announced, August 4, 2015

Four Oaks Fincorp, Inc., Four Oaks, North Carolina, and Four Oaks Bank & Trust Company -- written agreement dated May 24, 2011, terminated July 30, 2015.
-Announced, August 4, 2015

OSB Community Bank, Brooklyn, Michigan -- written agreement with the Federal Reserve Bank of Chicago and the Michigan Department of Insurance and Financial Services.
-Announced, August 6, 2015