Board Actions

NATCOM Bancshares, Inc., Superior, Wisconsin -- request for reconsideration of the Board's approval of the application by NATCOM Bancshares, Inc., to acquire shares of Republic Bancshares, Inc., Duluth Minnesota, and thereby indirectly acquire Republic Bank, Inc.
-Denied, January 12, 2018

Huron Community Bank, East Tawas, Michigan -- to acquire certain assets and assume certain liabilities of a branch of First Federal of Northern Michigan, Alpena, a federal savings association subsidiary of First Northern Michigan Bancorp, Inc.
-Approved, January 12, 2018

Forms -- final Board review to extend with revision the Consolidated Financial Statements for Holding Companies (FR Y-9C), Parent Company Only Financial Statements for Large Holding Companies (FR Y-9LP), Parent Company Only Financial Statements for Small Holding Companies (FR Y-9SP), Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR Y-7N), and Consolidated Report of Condition and Income for Edge and Agreement Corporations (FR 2886b); and to extend without revision the Financial Statements for Employee Stock Ownership Plan Holding Companies (FR Y-9ES) and Supplement to the Consolidated Financial Statements for Holding Companies (FR Y-9CS), Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR Y-7NS), and Capital and Asset Report for Foreign Banking Organizations (FR Y-7Q).
-Approved, January 12, 2018

Forms -- initial Board review to extend with revision the Reporting Requirements Associated with Regulation QQ.
-Proposed, January 12, 2018

Division of Financial Stability -- appointment of Elizabeth Klee as deputy associate director, Namirembe Mukasa as assistant director and chief of staff, and Chiara Scotti as assistant director.
-Announced, January 9, 2018

Reserve Bank Directors -- designation of chairs and deputy chairs of the Federal Reserve Banks for 2018.
-Announced, January 10, 2018

American Express Company, New York, New York, and American Express Travel Related Services Company, Inc. -- consent order dated October 1, 2012, terminated January 8, 2018.
-Announced, January 11, 2018

Enforcement Action -- determination denying the motion by Christopher Ashton, a former institution-affiliated party of Barclays Bank PLC, to vacate, void, and dismiss the Board's final decision, notice of assessment, and order of prohibition against him.
-Approved, January 11, 2018

Enforcement Actions -- termination of enforcement actions related to residential mortgage loan servicing and foreclosure processing against 10 banking organizations (Bank of America Corporation; CIT Group, Inc., as successor to IMB HoldCo LLC; Ally Financial Inc.; The Goldman Sachs Group, Inc.; HSBC North America Holdings, Inc.; JPMorgan Chase & Co.; Morgan Stanley; The PNC Financial Services Group, Inc.; SunTrust Banks, Inc.; and U.S. Bancorp), civil money penalties against five banking organizations (Goldman Sachs; Morgan Stanley; CIT Group; U.S. Bancorp; and PNC), termination of two interagency orders against service providers (Lender Processing Services, Inc., succeeded by ServiceLink Holdings, LLC, and MERSCORP, Inc., now known as MERSCORP Holdings, Inc.) and other related actions.
-Approved, January 8, 2018

Goldman Sachs Bank USA, New York, New York -- issuance of a consent order of assessment of a civil money penalty.
-Announced, January 12, 2018

Liberty Bank, South San Francisco, California -- written agreement dated August 5, 2016, terminated January 8, 2018.
-Announced, January 11, 2018

Mega International Commercial Bank Co., Ltd., Taipei, Taiwan -- issuance of a consent cease-and-desist order and assessment of a civil money penalty against Mega International Commercial Bank Co. and its New York, Chicago, and San Jose branches based on deficiencies in compliance with Bank Secrecy Act and anti-money-laundering laws.
-Approved, January 12, 2018