Deadline Postponed

The FDIC has extended the opt-out deadline for its Temporary Liquidity Guarantee Program from Nov. 12 to Dec. 5. Any eligible institution that opts out of the program on or before Dec. 5 will not pay any assessment under the program. Any eligible entity that does not opt out on or before Dec. 5 will be required to pay related fees.

Consumer Alert

The Fed warned the public about fraudulent solicitations that promise consumers access to personal loans through a nonexistent Federal Reserve lending program. The Fed emphasized that it does not operate a direct lending facility for consumers.

Check Processing

The Fed announced that the Cleveland Federal Reserve Bank will serve as the single paper check processing and adjustments site and that Atlanta will serve as the single electronic check processing site for the whole Federal Reserve System. The Reserve Banks will use a flexible restructuring schedule that scales back or shifts operations at other sites when check volumes no longer justify the existing operation.