On September 8, 2016, the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Office of the Comptroller of the Currency (the “OCC,” and together with the Federal Reserve and the FDIC, the “Federal Banking Agencies”) issued their report pursuant to Section 620 (the “Section 620 Report”) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”). In accordance with Section 620 of the Dodd-Frank Act, the Federal Banking Agencies are required to conduct a study of the activities and investments that banking entities may engage in under state and federal law for the purpose of providing recommendations regarding:

..Whether the activities or investments have (or could have) a negative effect on the safetyand soundness of the banking entities or the U.S. financial system at large...