The OCC announced enforcement actions against Capital One, N.A., and Capital One Bank (USA), N.A., for violations and compliance deficiencies related to the Servicemembers Civil Relief Act (SCRA). The enforcement actions require the banks to improve their policies and procedures for determining whether servicemembers who request certain benefits provided by the SCRA are eligible for such benefits, and require the banks to ensure the retention of accurate and complete records that document the basis for decisions regarding servicemembers' eligibility for SCRA benefits or protections. This

Lists, or provides links to, a variety of regulatory developments.

He is accused of stealing customer funds. View press release in full here(links externally to CFTC website).

As a part of its ongoing Community Bank Initiatives, the FDIC is developing a regulatory calendar to help community banks stay up-to-date on changes in federal banking laws, regulations, and supervisory guidance. (This is a useful calendar with drop downs to limit the number of items that are on the calendar to those relevant to a particular issue. The calendar does not have as many events as one might have feared.) View release in full here (links externally to FDIC website). Additional Materials: Draft regulatory calendar

Chilton suggested that an insurance fund, similar to the ones established in the securities and banking industries, be established for futures customers. [SL Comments: Obviously, this suggestion is made against the background of MF Global and Peregrine, which failures create the need, or at least a desire, to restore confidence in the futures industry. Query: If there were such a fund, would it now be bankrupt in light of those two failures? Does such a fund create "moral hazard" in that it disincentivizes customers from considering the creditworthiness of their FCMs? (As a constant critic of