Subscribe Today to the 'New'
BANK BOARD LETTER
20% Discount on One-Year Subscription
Beginning in January 2014, The Bank Board Letter, one of the nation's premier newsletters for directors of financial institutions and their holding companies, will be available in print and digital editions.
To introduce you to the redesigned and expanded Bank Board Letter, we are offering a 20% discount off the regular one-year subscription price of $74. (Current subscribers may take advantage of this special offer by extending their subscriptions.)
CLICK HERE to take advantage of this special offer.
Contact Kristi Wagner at 913-261-7053 about bulk subscriptions.
Click on the issue above to look at a sample issue.
Agencies Release Interagency Statement on Restrictions on Conversions of Troubled Banks
Nov 27 - Section 612 of the Dodd-Frank Wall Street Reform and Consumer Protection Act imposes restrictions on conversions of certain national banks or federal savings associations to state-chartered institutions and conversions of certain state-chartered banks or savings associations to national banks or federal savings associations. The agencies that administer Section 612the FDIC, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency together with the Conference of State Bank Supervisors are issuing this interagency statement to outline supervisory expectations for conversions covered by this law.
- The agencies and CSBS are issuing this guidance to clarify supervisory expectations for regulatory conversion requests subject to Section 612 of the Dodd-Frank Act.
- Section 612 prohibits charter conversions by certain financial institutions subject to a cease and desist order (or other formal enforcement order) or a memorandum of understanding relating to a significant supervisory matter.
- Institutions may request an exception to the conversion prohibition as described in Section 612(d).
- The agencies expect that exceptions will be rare and generally would occur only when the provisions of an enforcement action have been substantially addressed.
- The July 2009 FFIEC Statement on Regulatory Conversions remains in effect.
Click here for more information.