U.S. Fed orders improvements at Virginia bank
WASHINGTON, June 17 |
WASHINGTON, June 17 (Reuters) - The Federal Reserve Board said on Thursday that it has ordered Hampton Roads Bankshares Inc (HMPR.O) to submit plans for improved board oversight of operations aimed at improving credit risk management, capital, liquidity and earnings.
In a written agreement between the Norfolk, Virginia-based bank holding company and the Federal Reserve Bank of Richmond, Hampton Roads has 60 days to submit the new oversight plan.
It also has 60 days to submit a separate written plan to maintain sufficient capital at the holding company and its subsidiary bank, Bank of Hampton Roads. (Reporting by David Lawder, Editing by Chizu Nomiyama)
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