Board Actions

Actions taken during the week ending March 3, 2007

Bank Holding Companies

Community Bankshares, Inc., Greenwood Village, Colorado -- to acquire Citizens Financial Corporation, Cortez, and The Citizens State Bank of Cortez.
-Approved, March 1, 2007

Enforcement

Bank of America Corporation, Charlotte, North Carolina -- written agreement dated February 9, 2005, terminated February 27, 2007.
-Announced, February 27, 2007

Regulations And Policies

Interagency Statement on Subprime Mortgage Lending -- publication for comment to address safety and soundness and consumer disclosure issues related to certain adjustable-rate mortgage products marketed to subprime borrowers.
-Approved, March 2, 2007

Testimony And Statements

The Aging Workforce -- testimony by Vice Chairman Kohn before Senate Special Committee on Aging.
-Published, February 28, 2007

Long-term Fiscal Challenges and the Economy -- statement by Chairman Bernanke before the House Committee on the Budget.
-Published, February 28, 2007