Board Actions

Actions taken during the week ending February 6, 2016

Board Operations

Board Budget -- operating and capital budgets for 2016.
-Approved, February 1, 2016

Forms

Forms -- initial Board review to extend without revision the Senior Credit Officer Opinion Survey on Dealer Financing Terms (FR 2034) and Monthly Report of Traveler's Checks Outstanding (FR 2054).
-Proposed, February 3, 2016

Enforcement

Asian Financial Corporation, Philadelphia, Pennsylvania, and Asian Bank -- cease and desist order issued August 1, 2012, terminated January 19, 2016.
-Announced, February 2, 2016

HSBC North America Holdings, Inc., New York, New York, and HSBC Finance Corporation, Mettawa, Illinois -- issuance of a consent order of assessment of a civil money penalty for deficiencies in residential mortgage loan servicing and foreclosure processing.
-Announced, February 5, 2016

New Peoples Bankshares, Inc., Honaker, Virginia, and New Peoples Bank, Inc. -- written agreement issued July 29, 2010, terminated January 20, 2016.
-Announced, February 2, 2016

Northern States Financial Corporation, Waukegan, Illinois -- written agreement issued March 17, 2011, terminated January 22, 2016.
-Announced, February 2, 2016

Severn Bancorp, Inc., Annapolis, Maryland -- supervisory agreement issued by the Office of Thrift Supervision, dated November 29, 2009, terminated January 21, 2016.
-Announced, February 2, 2016