Our new Rip-Offs program couldn't have been more well-timed. In September, California passed a Financial Elder Abuse law, requiring financial institutions to report suspected Financial Elder Abuse to the authorities or face fines up to $5000 per incident. The law is being watched carefully by other states that are looking into similar laws. Could you recognize a con in progress?

This story is on the newswires today: Community Banks Ask for Post-Katrina Assistance.

Banks in the Gulf Coast region are asking congress to ease some of the "Know your customer" rules put in place to combat money laundering. The request comes as the banks are trying to cash relief checks and open new accounts for people affected by Hurricane Katrina.

The banks are also asking for legislation to protect them from liability for bad checks cashed during the crisis. In addition, the American Financial Services Associations has asked congress to increase the FDIC insurance coverage to $130,000 to increase confidence in the banks in the region and prevent them from failing.

The Office of the Comptroller of the Currency released its Summer Community Developments Newsletter today. This issue contains some good articles about HMDA, including information about recent HMDA revisions, new Residential Mortgage Lending guidelines, counseling technologies and non-traditional credit reports. Past issues of the newsletter have focused on reaching the unbanked, supporting small businesses and stimulating rural economies.

An archive of Community Development publications can be found in the Community Affairs section of the OCC's website.

Also at the OCC:

• Aug. 29-Sept. 12: Take the OCC.gov survey and help improve the OCC website.


• Aug. 4: John Dugan takes office as new Comptroller of the Currency.


• Aug. 2: CRA final rule increases asset-size threshold for small banks, creates a new category of intermediate small banks, and revises the definition of community development.

The FDIC's revised edition of "Your Insured Deposit" booklet is now available at no cost to insured financial institutions. This publication reflects the April 1, 1999 changes to the deposit insurance regulations on joint accounts and POD (payable-on-death) accounts. You can obtain the booklet from the FDIC in writing or by e-mail at the addresses below. The booklet can also be downloaded from the FDIC's web site.

Write to: FDIC Public Information Center, 801 17th Street, NW, Room 100, Washington, D.C. 20434

Fax: 202-416-2076

E-Mail: publicinfo@fdic.gov

Check this page often for timely updates on bank-related compliance issues.