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Acting Comptroller of the Currency Discusses Importance of Homeownership
July 2, 2025 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood discussed homeownership as a pathway to financial inclusion and generational wealth in remarks at the Detroit REACh Homebuyers Fair, held in recognition of National Homeownership Month on June 28. In his remarks, Acting Comptroller Hood discussed the Office of the Comptroller of the Currency’s work to expand…
Bank Compliance Leader Award Winners for 2025 Announced
July 2, 2025 / Source: Compliance Alliance
Bank Compliance Leader Award Winners for 2025 Announced FOR IMMEDIATE RELEASE: July 3rd, 2025 Contact: Brittney Stacey [email protected] Compliance Alliance has announced the names of the four regional winners of this year’s Bank Compliance Leader Award. They are in order of appearance: Gayle Brooke, Independent Bank, MI Eastern Region Buffy Dyess Guaranty Bank & Trust,…
No FEAR Act Annual Report for fiscal year 2024
July 1, 2025 / Source: CFPB
The CFPB presents its Notification and Federal Employee Antidiscrimination and Retaliation Act of 2002 (No FEAR Act) Annual Report of Fiscal Year (FY) 2024. This report summarizes the CFPB’s EEO complaint activity, the most significant accomplishments in our EEO program, our strong commitment to abide by civil rights and whistleblower protection laws and merit systems…
Treasury Sanctions Global Bulletproof Hosting Service Enabling Cybercriminals and Technology Theft
July 1, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating Aeza Group, a bulletproof hosting (BPH) services provider, for its role in supporting cybercriminal activity targeting victims in the United States and around the world. BPH service providers sell access to specialized servers and other computer infrastructure designed to help…
Joint Statement on the EU-U.S. Joint Financial Regulatory Forum
July 1, 2025 / Source: Treasury
Brussels — The EU-U.S. Joint Financial Regulatory Forum took place on 24-25 June 2025, with participants exchanging views on topics of mutual interest as part of their regular financial regulatory dialogue. The dialogue was co-chaired by the European Commission and the U.S. Department of the Treasury. EU participants included representatives of the European Commission, European Central…
OCC Releases CRA Performance Evaluations for 22 National Banks and Federal Savings Associations
July 1, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of June 1, 2025, through June 30, 2025. Under the CRA, the OCC assesses an institution’s record of meeting the credit needs of its entire community, including low- and…
OCC Report Highlights Key Risks in Federal Banking System
June 30, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system in its Semiannual Risk Perspective for Spring 2025. The OCC reported that the strength of the federal banking system remains sound. Consumer sentiment, geopolitical risk, sustained higher interest rates, and downward movement in some macroeconomic indicators have increased…
Federal Reserve Board’s annual bank stress test showed that large banks are well positioned to weather a severe recession, while staying above minimum capital requirements and continuing to lend to households and businesses
June 30, 2025 / Source: FRB
The results of the Federal Reserve Board’s annual bank stress test showed that large banks are well positioned to weather a severe recession, while staying above minimum capital requirements and continuing to lend to households and businesses. Under this year’s hypothetical recession, the aggregate decline in the common equity tier 1 (CET1) capital ratio, which…
HUD and Census Bureau Report New Residential Sales in May 2025
June 30, 2025 / Source: HUD
WASHINGTON (JUNE 30, 2025) – The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for May 2025: New Home SalesSales of new single-family houses in May 2025 were at a seasonally-adjusted annual rate of 623,000, according to estimates released jointly today by the U.S….
HUD Slashes Red Tape to Cut Homeownership Financing Costs
June 29, 2025 / Source: HUD
WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the Federal Housing Administration (FHA) is rescinding more than 12 sub-regulatory policies under its Single Family mortgage insurance program. These sweeping changes cut red tape, help reduce the cost of homeownership, and eliminate financial and regulatory burdens. The rescissions span the loan…
Customer Identification Program Rule Exemption from Collecting Taxpayer Identification Number Information from Customers
June 29, 2025 / Source: FDIC
Summary: The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (each an “agency” and collectively the “agencies”), with the concurrence of the Financial Crimes Enforcement Network (FinCEN), grant an exemption from the requirements of the Customer Identification Program (CIP) Rule for the collection of taxpayer identification…
Notice of Proposed Rulemaking: Modifications to the Enhanced Supplementary Leverage Ratio Standards for U.S. Global Systemically Important Bank Holding Companies and Their Subsidiary Depository Institutions
June 29, 2025 / Source: OCC
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are requesting comment on a proposal to modify the enhanced supplementary leverage ratio standards, which apply to the largest and most systemically important banking organizations in the United…
Acting Comptroller of the Currency Issues Statement on Order Granting Exemption to Customer Identification Program
June 29, 2025 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood issued the following statement today in support of the Order granting an exemption to the Customer Identification Program (CIP) rule to benefit both consumers and the banking industry. I support the Order granting an exemption to the Customer Identification Program, or CIP rule, allowing banks to utilize…
Treasury Launches New FinCEN Exchange Series to Combat Narcotics and Drug Trafficking Organizations, Visits El Paso Port of Entry
June 29, 2025 / Source: FinCEN
EL PASO—This week, as part of its public-private information sharing Exchange program, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) launched a new series entitled “Combating and Obstructing Money Movements Associated with Narcotics and Drug Trafficking Organizations” (COMMAND). COMMAND mobilizes community and regional financial institutions as frontline partners in the fight against…
Federal Reserve Board publishes agenda for its conference on July 22 on large bank capital requirements
June 26, 2025 / Source: FRB
The Federal Reserve Board on Thursday published the agenda for its conference on July 22 on large bank capital requirements. The conference will bring together a range of perspectives, including academics, practitioners, and market participants to discuss the key pillars of the regulatory capital framework. “The conference will allow for expert discussions on whether capital…
Speech – Community Development at the Federal Reserve
June 26, 2025 / Source: FRB
Thank you, Eric, thank you to the conference organizers for asking me to speak today, and thank you, especially, to the practitioners here for the work you do in building stronger communities.1 Your mission has also been at the center of my career in many different roles as an academic, a practitioner, and a public official,…
CSBS Issues Money Transmitter Guidance on Virtual Currency and Capital
June 26, 2025 / Source: CSBS
Washington, D.C. — The Conference of State Bank Supervisors today issued guidance on the treatment of virtual currency when calculating a licensee’s tangible net worth under the Money Transmission Modernization Act (MTMA). The guidance is advisory in nature and designed to encourage transparency and consistency in implementation of the MTMA. The guidance specifically clarifies the treatment of virtual currency…
Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
June 25, 2025 / Source: FDIC
WASHINGTON – Federal bank regulatory agencies today released the 2025 list of distressed or underserved nonmetropolitan middle-income geographies where certain bank activities are eligible for Community Reinvestment Act (CRA) credit. Under the CRA, the agencies assess a bank’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent…
HUD Secretary Scott Turner Moves to Eliminate Green Housing Mandate
June 25, 2025 / Source: HUD
WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner today announced the Federal Housing Administration (FHA) will propose an across-the-board leveling of its Upfront Capitalized and Annual Mortgage Insurance Premiums (MIPs) to 25 basis points for all Multifamily program categories. This action is the first step in eliminating the ideologically motivated green…
Acting Comptroller of the Currency Issues Statement on Proposal to Modify the Enhanced Supplementary Leverage Ratio
June 25, 2025 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood issued the following statement today following his approval of an interagency notice of proposed rulemaking to modify the enhanced supplementary leverage ratio: I strongly support the notice of proposed rulemaking to modify the leverage ratio standard applicable to the largest and most systemically important banking organizations. The…
Treasury Issues Unprecedented Orders under Powerful New Authority to Counter Fentanyl
June 25, 2025 / Source: FinCEN
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued orders identifying three Mexico-based financial institutions—CIBanco S.A., Institution de Banca Multiple (CIBanco), Intercam Banco S.A., Institución de Banca Multiple (Intercam), and Vector Casa de Bolsa, S.A. de C.V. (Vector)—as being of primary money laundering concern in connection with illicit opioid trafficking, and…
FHFA House Price Index® Down 0.4 Percent in April; Up 3.0 Percent from Last Year
June 24, 2025 / Source: FHFA
Washington, D.C. – U.S. house prices fell 0.4 percent in April, according to the U.S. Federal Housing (FHFA) seasonally adjusted monthly House Price Index (FHFA HPI®). House prices rose 3.0 percent from April 2024 to April 2025. The previously reported 0.1 percent price decline in March was revised upward to 0.0 percent. For the nine census divisions, seasonally adjusted monthly…
Joint Statement on the U.S.-UK Financial Regulatory Working Group
June 24, 2025 / Source: Treasury
LONDON – The 11th official meeting of the U.S.-UK Financial Regulatory Working Group (Working Group) took place in London on 3 June 2025. Officials and senior staff from HM Treasury and the U.S. Department of the Treasury were joined by representatives from the Bank of England, Financial Conduct Authority, Board of Governors of the Federal…
OCC Reports First Quarter 2025 Bank Trading Revenue
June 23, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. commercial banks and savings associations of $15.0 billion in the first quarter of 2025. The first quarter trading revenue was $408 million, or 2.7 percent, less than in the previous quarter and $297 million, or 1.9 percent, less than a…
Financial Action Task Force Identifies Jurisdictions with Anti-Money Laundering, Countering the Financing of Terrorism, and Counter-Proliferation Finance Deficiencies
June 23, 2025 / Source: FinCEN
WASHINGTON—At the conclusion of its plenary meeting this month, the Financial Action Task Force (FATF), an intergovernmental body that establishes international standards for anti-money laundering, countering the financing of terrorism, and countering the financing of proliferation of weapons of mass destruction (AML/CFT/CPF), updated its lists of jurisdictions with strategic AML/CFT/CPF deficiencies.[1] FinCEN is advising U.S….