Agencies to Host Roundtable on Special Purpose Credit Programs
August 27, 2023 / Source: CFPB
WASHINGTON, D.C. — Four federal agencies will host a roundtable discussion September 12, 2023, at 3:00 p.m. EDT regarding the availability of special purpose credit programs to help meet the credit needs of eligible individuals. The event will be open to the public via livestream. U.S. Department of Housing and Urban Development Secretary Marcia L. Fudge,…
Justice Department Announces Results of Nationwide COVID-19 Fraud Enforcement Action
August 24, 2023 / Source: FDIC OIG
Department Also Announces the Launch of Two New COVID-19 Fraud Strike Forces The Justice Department announced today the results of a coordinated, nationwide enforcement action to combat COVID-19 fraud, which included 718 enforcement actions – including federal criminal charges against 371 defendants – for offenses related to over $836 million in alleged COVID-19 fraud. “The…
Treasury Targets Individuals Contributing to Increased Conflict and Instability in the Eastern DRC
August 24, 2023 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned six individuals for contributing to the most recent escalation of conflict in the eastern Democratic Republic of the Congo (DRC). Today’s sanctions reflect the United States’ commitment to advancing efforts toward resolution of the crisis, promoting accountability for human rights…
Agencies to Host Roundtable on Special Purpose Credit Programs
August 24, 2023 / Source: OCC
WASHINGTON, D.C.—Four federal agencies will host a roundtable discussion September 12, 2023, at 3:00 p.m. EDT regarding the availability of special purpose credit programs (SPCP) to help meet the credit needs of eligible individuals. The event will be open to the public via livestream. U.S. Department of Housing and Urban Development Secretary Marcia L. Fudge,…
Treasury Designates Roman Semenov, Co-Founder of Sanctioned Virtual Currency Mixer Tornado Cash
August 23, 2023 / Source: Treasury
Concurrent Treasury sanctions and DOJ indictments hold to account founders of mixing service that laundered stolen virtual assets for North Korea WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Roman Semenov, one of three co-founders of the sanctioned virtual currency mixer Tornado Cash, for his role in…
Treasury Expands Burma-Related Sanctions and Designates Additional Jet Fuel Suppliers in Burma
August 23, 2023 / Source: Treasury
WASHINGTON — Today, taking note of the Burmese military regime’s violent airstrikes against the people of Burma, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a determination that allows sanctions to be imposed on any foreign individual or entity that operates in the jet fuel sector of the Burmese economy….
Welcoming Remarks Governor Michelle W. Bowman
August 22, 2023 / Source: FRB
Thank you, President Goolsbee. It is a pleasure to be here today to participate in our first in-person Fed Listens event in Chicago since before the pandemic. I am really looking forward to being a part of today’s conversation. When we began Fed Listens in 2019, the initiative was part of a broad, comprehensive review of the decisionmaking framework…
Minutes of the Board’s discount rate meetings from July 17 and July 26, 2023
August 22, 2023 / Source: FRB
The Federal Reserve Board on Tuesday released the minutes from its recent meetings to review and determine the discount rates provided to depository institutions through the discount window. Today’s minutes cover the Board meetings that occurred on July 17 and 26, 2023. The Board’s process for setting the discount rate is distinct from the process…
OCC Allows National Banks and Federal Savings Associations in California, Nevada and Arizona Affected by Tropical Storm Hilary to Close
August 21, 2023 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of California, Nevada and Arizona affected by Tropical Storm Hilary. In issuing the proclamation, the OCC expects that only those bank offices directly…
Federal and state financial regulatory agencies issue interagency statement on supervisory practices regarding financial institutions affected by the Hawaii Wildfires
August 21, 2023 / Source: FRB
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Hawaii Department of Commerce and Consumer Affairs’ Division of Financial Institutions, the National Credit Union Administration, and the Office of the Comptroller of the Currency, collectively the agencies, recognize the serious impact of the recent Hawaii wildfires on the customers…
Treasury Sanctions Lebanese Entity and Leader for Providing Support to Hizballah
August 20, 2023 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Lebanon-based Green Without Borders and its leader. Green Without Borders is a Lebanon-based organization that has provided support to and cover for Hizballah’s operations in southern Lebanon along the “Blue Line” between Lebanon and Israel over the last decade…
Treasury Sanctions Entities Tied to Arms Deals Between North Korea and Russia
August 20, 2023 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on three entities tied to a sanctions evasion network attempting to support arms deals between Russia and the Democratic People’s Republic of Korea (DPRK). The entities are Limited Liability Company Verus (Verus), Defense Engineering Limited Liability Partnership (Defense Engineering), and Versor S.R.O. (Versor). This action…
Treasury Sanctions Two Syria-Based Militias Responsible for Serious Human Rights Abuses in Northern Syria
August 17, 2023 / Source: Treasury
WASHINGTON —Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating two Syria-based armed militias and three members of the groups’ leadership structures in connection with serious human rights abuses against those residing in the Afrin region of northern Syria. An auto sales company owned by the leader of one…
Treasury Targets Individuals Involved in the Poisoning of Aleksey Navalny
August 17, 2023 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is once again taking action to hold the Government of Russia accountable for its poisoning of Russian opposition politician Aleksey Navalny (Navalny) three years ago on August 20, 2020. Russian authorities imprisoned Navalny upon his return to Russia in January…
CFPB Penalizes Freedom Mortgage and Realty Connect for Illegal Kickbacks
August 17, 2023 / Source: CFPB
Lender provided incentives to Realty Connect and other brokerages in exchange for mortgage referrals WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) took action against Freedom Mortgage Corporation (Freedom) for providing illegal incentives to real estate brokers and agents in exchange for mortgage loan referrals. Freedom provided real estate agents and brokers with numerous…
Inflation Reduction Act 1-Year Report Card: IRS Delivers Dramatically Improved 2023 Filing Season Service, Modernizes Technology, Pursues High-Income Individuals Evading Taxes
August 16, 2023 / Source: Treasury
New milestones in Paperless Processing Initiative: 225X more forms scanned than in 2022, 51 additional forms and letters available for online response New improvements to customer callback option to better serve taxpayers during high call volume, customer callback option will now be available for up to 95% of callers seeking live assistance. WASHINGTON – One…
Minutes of the Federal Open Market Committee, July 25-26, 2023
August 16, 2023 / Source: FRB
The Federal Reserve on Wednesday released the minutes of the Federal Open Market Committee meeting that was held on July 25-26, 2023. The minutes for each regularly scheduled meeting of the Committee are generally published three weeks after the day of the policy decision. The descriptions of economic and financial conditions contained in these minutes…
Treasury International Capital Data for June
August 15, 2023 / Source: Treasury
Washington – The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for June 2023. The next release, which will report on data for July 2023, is scheduled for September 18, 2023. The sum total in June of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was…
Bank Accounting Advisory Series Updated
August 15, 2023 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its annual update to the Bank Accounting Advisory Series (BAAS). The BAAS contains staff responses to frequently asked questions from the banking industry and bank examiners on a variety of accounting topics and promotes consistent application of accounting standards and regulatory reporting among national…
Remarks of CFPB Director Rohit Chopra at White House Roundtable on Protecting Americans from Harmful Data Broker Practices
August 15, 2023 / Source: CFPB
Thank you to White House National Economic Council Director Lael Brainard and White House Office of Science and Technology Policy Director Arati Prabhakar for convening this roundtable on protecting Americans from harmful data broker practices. The United States has a long history of recognizing the sanctity of protecting against unwanted intrusions into our homes and…
Remarks by Secretary of the Treasury Janet L. Yellen on the Economy Ahead of Inflation Reduction Act Anniversary in Las Vegas, Nevada
August 14, 2023 / Source: Treasury
As Prepared for Delivery Thank you. It’s great to be here in Las Vegas with all of you. I want to especially thank Lamar for your introduction and for your team’s hospitality. And I’m grateful to everyone from the IBEW and building trades unions for your very warm welcome. Many of you may not know…
FDIC Publishes 2023 Risk Review
August 14, 2023 / Source: FDIC
For Release WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today published its 2023 Risk Review. The report summarizes conditions in the U.S. economy, financial markets, and banking industry. The 2023 Risk Review provides a comprehensive summary of key developments and risks in the U.S. banking system, as in prior reports, and includes a new section…
HUD and VA Launch “Boot Camps” to Accelerate Homeless Veterans’ Path to Permanent Housing and Support Services
August 13, 2023 / Source: HUD
WASHINGTON – The U.S. Departments of Housing and Urban Development (HUD) and Veterans Affairs (VA) launched the HUD-Veterans Affairs Supportive Housing (HUD-VASH) “Boot Camps.” The HUD-VASH “Boot Camps” are a series of workshops to help Public Housing Agencies (PHAs) and Veteran Affairs Medical Centers (VAMCs) improve their processes and more quickly transition veterans from homelessness to…
Treasury Imposes Sanctions on Russian Elites and a Russian Business Association
August 13, 2023 / Source: Treasury
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a new round of sanctions targeting prominent members of Russia’s financial elite, as well as a Russian business association. The four individuals targeted today include Petr Olegovich Aven, Mikhail Maratovich Fridman, German Borisovich Khan, and Alexey Viktorovich Kuzmichev, all…
Agency Information Collection Activities; Proposed Renewal; Comment Request: Renewal Without Change of Reports of Foreign Financial Accounts Regulations and FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR)
August 10, 2023 / Source: FinCEN
Release Date August 10, 2023 Agency Information Collection Activities; Proposed Renewal; Comment Request: Re… Action Type Notice and Request for Comment, Forms Renewal/Update