Board Actions

BB&T Corporation, Winston-Salem, North Carolina -- to merge with National Penn Bancshares, Inc., Allentown, Pennsylvania, and thereby indirectly acquire National Penn Bank.
-Approved, December 22, 2015

Forms -- final Board review to extend without revision the Consolidated Holding Company Report of Equity Investments in Nonfinancial Companies (FR Y-12), Annual Report of Merchant Banking Investments Held for an Extended Period (FR Y-12A), Domestic Branch Notification (FR 4001), Suspicious Activity Report (FR 2230), and disclosure requirements of Subpart H of Regulation H (Reg H-7).
-Approved, December 23, 2015

Countercyclical Capital Buffer -- publication for comment of a proposed policy statement on the framework the Board would follow in setting the countercyclical capital buffer (CCyB); and affirmation of the CCyB amount at the current level of 0 percent.
-Approved, December 21, 2015

Calumet County Bank, Brillion, Wisconsin -- written agreement with the Federal Reserve Bank of Chicago and the State of Wisconsin Department of Financial Institutions.
-Announced, December 22, 2015

Higher One, Incorporated, New Haven, Connecticut -- issuance of a consent cease and desist order and assessment of a civil money penalty against Higher One, Inc., an institution-affiliated party of Customers Bank, Phoenixville, Pennsylvania, and a former institution-affiliated party of Cole Taylor Bank, Chicago, Illinois.
-Announced, December 23, 2015