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OCC Issues Request for Information on Community Bank Digitalization
May 5, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a request for information (RFI) on the key challenges and barriers faced by community banks in the adoption and implementation of digital banking solutions. New and emerging technologies can be important tools for community banks to meet customer demand, increase revenue, improve efficiencies, and…
FDIC Issues List of Banks Examined for CRA Compliance
May 5, 2025 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in February 2025. The CRA is a 1977 law that requires the FDIC to assess a bank’s record…
Treasury Sanctions Burma Warlord and Militia Tied to Cyber Scam Operations
May 5, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the Karen National Army (KNA), a militia group in Burma, as a transnational criminal organization, along with the group’s leader Saw Chit Thu, and his two sons, Saw Htoo Eh Moo and Saw Chit Chit, for their role in facilitating cyber scams that harm U.S….
Readout: U.S. Department of the Treasury Hosts Roundtable on Opportunities to Lower Costs and Maintain Availability of Homeowners Insurance
May 4, 2025 / Source: Treasury
WASHINGTON – Today, the Federal Insurance Office (FIO) at the U.S. Department of the Treasury hosted a roundtable discussion with representatives from the insurance sector, including insurers, reinsurers, brokers, state regulators, resilience and consumer groups, and academics to discuss ways to lower costs and maintain availability of homeowners insurance as part of the Trump Administration’s…
HUD Seeks Feedback from Tribal Leaders on Burdensome Environmental Regulations
May 4, 2025 / Source: HUD
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner instructed the Office of Public and Indian Housing (PIH) to request comments and feedback from Tribal leaders regarding burdensome environmental regulations and how HUD can reduce challenges associated with the environmental review process. “HUD is working quickly to eliminate all burdensome regulations…
HUD Secretary Scott Turner Statement on President Trump’s Discretionary Budget
May 4, 2025 / Source: HUD
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner today released the following statement on President Trump’s Fiscal Year (FY) 2026 discretionary budget. “President Trump’s bold budget proposes a reimagining of how the federal government addresses affordable housing and community development. It rightfully provides states and localities greater flexibility while thoughtfully…
Treasury Targets Major Mexican Cartel Involved in Fentanyl Trafficking and Fuel Theft
May 1, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned three Mexican nationals and two Mexico-based entities involved in a drug trafficking and fuel theft network linked to the Cartel Jalisco Nueva Generacion (CJNG). This network generates hundreds of millions of dollars annually, benefitting CJNG, through a slew of criminal…
Acting Comptroller of the Currency Discusses Financial Literacy
May 1, 2025 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood discussed the importance of financial literacy at the U.S. Department of Treasury Financial Literacy Roundtable on April 30. The roundtable discussion, Empowering Americans in Underserved Communities through Financial Literacy, focused on ways to empower Americans in underserved rural and Native communities through financial literacy and education. In his…
FinCEN Finds Cambodia-Based Huione Group to be of Primary Money Laundering Concern, Proposes a Rule to Combat Cyber Scams and Heists
May 1, 2025 / Source: FinCEN
WASHINGTON — Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a finding and notice of proposed rulemaking (NPRM) pursuant to Section 311 of the USA PATRIOT Act that identifies Cambodia-based Huione Group as a financial institution of primary money laundering concern and proposes to sever its access to the U.S. financial system….
2024 Consumer Response Annual Report
May 1, 2025 / Source: CFPB
This annual report analyzes complaints submitted by consumers to the CFPB between January and December 2024. Full Report Consumer Response annual report
CFPB Keeps Its Enforcement and Supervision Resources Focused on Pressing Threats to Consumers
April 30, 2025 / Source: CFPB
WASHINGTON, D.C. – The Consumer Financial Protection Bureau is announcing today that, with respect to the regulation titled Small Business Lending Under the Equal Credit Opportunity Act (Regulation B), implementing Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, 88 Fed. Reg. 35,150 (May 31, 2023), it will not prioritize enforcement or supervision…
HUD Mortgagee Letter 2025-13
April 30, 2025 / Source: HUD
This Mortgagee Letter (ML) replaces policies established in ML 2022-01, Expansion of the Exclusive Listing Period for HUD Real Estate Owned Properties, and ML 2022-08, Expanding Affordable Housing Supply Through FHA’s Claims Without Conveyance of Title (CWCOT) Process.
Acting Comptroller of the Currency Discusses Artificial Intelligence
April 29, 2025 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood today discussed the role of artificial intelligence in financial services in recorded remarks at the National Fair Housing Alliance’s Responsible AI Symposium. In his remarks, Acting Comptroller Hood highlighted the Office of the Comptroller of the Currency’s (OCC) work to ensure AI and other technologies are used…
Treasury Targets Network Procuring Missile Propellant Ingredients for Iran
April 29, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating six entities and six individuals based in Iran and the People’s Republic of China (PRC) for their role in a network procuring ballistic missile propellant ingredients on behalf of Iran’s Islamic Revolutionary Guard Corps (IRGC). This network has…
HUD Delivers Mission-Minded Results in Trump Administration’s First 100 Days
April 29, 2025 / Source: HUD
WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner today announced HUD delivered tangible wins for the American people during President Trump’s first 100 days in office. The results underscore how Secretary Turner renewed HUD’s focus to its core objectives, further illustrated by the agency’s new mission statement, unveiled as part of…
FHFA House Price Index® Up 0.1 Percent in February; Up 3.9 Percent from Last Year
April 29, 2025 / Source: FHFA
Washington, D.C. – U.S. house prices rose 0.1 percent in February, according to the U.S. Federal Housing (FHFA) seasonally adjusted monthly House Price Index (FHFA HPI®). House prices rose 3.9 percent from February 2024 to February 2025. The previously reported 0.2 percent price growth in January was revised upward to 0.3 percent. For the nine census divisions, seasonally adjusted monthly…
Economy Statement for the Treasury Borrowing Advisory Committee
April 28, 2025 / Source: Treasury
Introduction Despite multiple winter storms in January creating a drag early in the quarter, February and March saw stronger performance, indicating that economic growth likely continued in the first quarter of 2025, albeit at a slower pace compared to the previous quarter. Meanwhile, labor markets picked up strength at the end of the first quarter,…
Treasury Targets Vessels Delivering Oil Derivatives to the Houthis
April 28, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is targeting three vessels and their owners for providing support to Ansarallah, commonly known as the Houthis, which is part of the Iranian regime’s network of terrorist proxies and partners. The group has deployed missiles, unmanned aerial vehicles, and naval mines to attack…
OCC Announces Settlements with Former Wells Fargo Internal Auditors
April 28, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced settlements with David Julian, former Chief Auditor at Wells Fargo Bank, N.A. (Bank), and Paul McLinko, former Executive Audit Director at the Bank. In the Consent Orders memorializing the settlements, the OCC assessed a $100,000 civil money penalty against Mr. Julian and a $50,000…
FCC Proposes Closing the Non-IP Network Loophole Exploited by Robocallers to Scam Consumers
April 28, 2025 / Source: FCC
Calls Passing Through Older Networks Should Maintain Their Digital Fingerprints– WASHINGTON, April 28, 2025—The Federal Communications Commission today sought to close a gap that has allowed far too many robocalls to bypass caller ID authentication tools that protect consumers. The STIR/SHAKEN caller ID authentication framework is a critical element – long championed by the Commission…
FDIC Hosts Empowering Communities Through Financial and Stabilization Resources
April 27, 2025 / Source: Federal Deposit Insurance Corporation
Event Date April 29, 2025, 1 – 2:30pm CDT (2 – 3:30pm EDT) Location Webinar, Webex The Federal Deposit Insurance Corporation (FDIC) will host an event to convene financial institutions, community development financial institutions (CDFIs), and community stakeholders to review community led financial empowerment initiatives including the Dakota County Financial Empowerment Program, America Saves, and FDIC resources. This…
Existing-Home Sales Receded 5.9% in March
April 24, 2025 / Source: National Association of Realtors
Key Highlights WASHINGTON (April 24, 2025) – Existing-home sales descended in March, according to the National Association of REALTORS®. Sales slid in all four major U.S. regions. Year-over-year, sales dropped in the Midwest and South, increased in the West and were unchanged in the Northeast. Total existing-home sales1 – completed transactions that include single-family homes, townhomes, condominiums…
Mortgage Rates Decrease
April 24, 2025 / Source: Freddie Mac
MCLEAN, Va., April 24, 2025 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.81%. “The average mortgage rate decreased slightly this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the last couple of months, the 30-year fixed-rate mortgage has fluctuated less…
Federal Reserve Board announces the withdrawal of guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities
April 24, 2025 / Source: Board of Governors of the Federal Reserve System
The Federal Reserve Board on Thursday announced the withdrawal of guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities. These actions ensure the Board’s expectations remain aligned with evolving risks and further support innovation in the banking system. The Board is rescinding its 2022 supervisory…
16 CFR Part 312: COPPA – Final Rule Amendments
April 23, 2025 / Source: Federal Trade Commission
The Federal Trade Commission amends the Children’s Online Privacy Protection Rule (the “Rule”), consistent with the requirements of the Children’s Online Privacy Protection Act. The amendments to the Rule, which are based on the FTC’s review of public comments and its enforcement experience, include one new definition and modifications to several others, as well as…