UNITED STATES OF AMERICA BEFORE THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON, D.C. STATE OF NORTH CAROLINA OFFICE OF THE NORTH CAROLINA COMMISSIONER OF BANKS RALEIGH, NORTH CAROLINAFirst Charter Corp /Nc/ • October 3rd, 2003 • National commercial banks
WHEREAS, after being advised of deficiencies identified by the Federal Reserve Bank of Richmond (the “Reserve Bank”) and the North Carolina Commissioner of Banks (the “Commissioner”), the First Charter Bank, Charlotte, North Carolina (the “Bank”), a North Carolina state chartered bank that is a member of the Federal Reserve System, is taking appropriate actions to enhance and improve its programs and procedures for complying with the Currency and Foreign Transactions Reporting Act (31 U.S.C. 5311 et seq.) (the Bank Secrecy Act (the “BSA”)) and the rules and regulations issued thereunder by the U.S. Department of the Treasury (31 C.F.R. Part 103), and with the anti-money laundering (“AML”) provisions of Regulation H (12 C.F.R. 208.62 and 208.63) of the Board of Governors of the Federal Reserve System (the “Board of Governors”);
