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HUD and Census Bureau Report New Residential Sales in February 2025
March 31, 2025 / Source: HUD
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for February 2025: New Home SalesSales of new single-family houses in February 2025 were at a seasonally adjusted annual rate of 676,000, according to estimates released jointly today by the U.S….
OCC Withdraws Principles for Climate-Related Financial Risk Management for Large Financial Institutions
March 31, 2025 / Source: OCC
WASHINGTONâThe Office of the Comptroller of the Currency (OCC) today withdrew its participation in the interagency principles for climate-related financial risk management for large financial institutions. âThe principles providing guidance to banks for climate-related financial risk are overly burdensome and duplicative. The OCCâs existing guidance for banks to maintain a sound risk management framework applies…
FinCEN Issues Alert on Bulk Cash Smuggling and Repatriation by Mexico-based Transnational Criminal Organizations
March 31, 2025 / Source: FinCEN
WASHINGTONâToday, the U.S. Department of the Treasuryâs Financial Crimes Enforcement Network (FinCEN) issued an Alert on bulk cash smuggling and repatriation by Mexico-based Transnational Criminal Organizations (TCOs), urging financial institutions to be vigilant to such activity. The Alert discusses transactions potentially related to the cross-border smuggling of bulk cash from the United States into Mexico and its…
Treasury Sanctions Criminal Operators and Money Launderers for the Notorious Sinaloa Cartel
March 31, 2025 / Source: Treasury
Washington â Today, the Department of the Treasuryâs Office of Foreign Assets Control (OFAC) designated six individuals and seven entities involved in a money laundering network supporting the Sinaloa Cartel, one of the most notorious and violent drug trafficking organizations in the world, and a U.S.-designated Foreign Terrorist Organization (FTO). The Sinaloa Cartel is responsible…
2024 HMDA Data on Mortgage Lending Now Available
March 31, 2025 / Source: CFPB
WASHINGTON, D.C. â The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2024 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for approximately 4,898 HMDA filers. The published data contain loan-level information filed by financial institutions and modified to protect consumer privacy. To increase public accessibility, the annual loan-level…
Agencies Announce Intent to Rescind 2023 Community Reinvestment Act Final Rule
March 30, 2025 / Source: FDIC
Joint Release Federal Deposit Insurance Corporation Federal Reserve Board Office of the Comptroller of the Currency March 28, 2025 The federal bank regulatory agencies today announced, in light of pending litigation, their intent to issue a proposal to both rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and reinstate the CRA…
FDIC Clarifies Process for Banks to Engage in Crypto-Related Activities
March 30, 2025 / Source: FDIC
WASHINGTON â Today, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter (FIL-7-2025) that provides new guidance for FDIC-supervised institutions engaging or seeking to engage in crypto-related activities. The new guidance, which rescinds FIL-16-2022, clarifies that FDIC-supervised institutions may engage in permissible crypto-related activities without receiving prior FDIC approval. The guidance affirms that FDIC-supervised…
CFPB Offers Regulatory Relief for Small Loan Providers
March 30, 2025 / Source: CFPB
The Consumer Financial Protection Bureau is announcing today that, with respect to the Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation, it will not prioritize enforcement or supervision actions with regard to any penalties or fines associated with the Payment Withdrawal provisions and the Payment Disclosure provisions once they become operative on March 30,…
Agency Information Collection Activities; Proposed Renewal: Comment Request: Renewal Without Change of Reporting Obligations on Foreign Bank Relationship With Iranian-Linked Financial Institutions Designated Under IEEPA and IRGC-Linked Persons Designated
March 30, 2025 / Source: FinCEN
Agency Information Collection Activities; Proposed Renewal: Comment Request: Renewal Without Change of Reporting Obligations on Foreign Bank Relationship With Iranian-Linked Financial Institutions Designated Under IEEPA and IRGC-Linked Persons Designated Release Date March 28, 2025 Agency Information Collection Activities; Proposed Renewal: Comment Request: Re⊠Action Type Notice and Request for Comment, Forms Renewal/Update
Agencies Announce Intent to Rescind 2023 Community Reinvestment Act Final Rule
March 28, 2025 / Source: FDIC
Joint Release Federal Deposit Insurance Corporation Federal Reserve Board Office of the Comptroller of the Currency March 28, 2025 The federal bank regulatory agencies today announced, in light of pending litigation, their intent to issue a proposal to both rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and reinstate the CRA…
Acting Comptroller Encourages Innovation to Foster Financial Inclusion
March 27, 2025 / Source: OCC
WASHINGTONâActing Comptroller of the Currency Rodney E. Hood today discussed financial inclusion in remarks at the National Community Reinvestment Coalitionâs Just Economy Conference 2025. In his remarks, Mr. Hood encouraged innovative thinking to foster greater financial inclusion in economically disadvantaged communities for both consumers and small businesses, particularly using financial technology tools. He highlighted the…
Deputy Secretary for the U.S. Department of the Treasury Michael Faulkender Confirmed by the United States Senate
March 27, 2025 / Source: Treasury
WASHINGTON â Yesterday, the United States Senate confirmed Michael Faulkender to be the Deputy Secretary of the United States Department of the Treasury. âIt is an honor to be confirmed as the Deputy Secretary of the United States Department of the Treasury. Thank you, President Trump, for the trust and confidence you have placed in…
Cash Advance Company Cleo AI Agrees to Pay $17 Million As Result of FTC Lawsuit Charging It Deceives Consumers
March 27, 2025 / Source: FTC
Online cash advance company Cleo AI has agreed to pay $17 million to settle the Federal Trade Commissionâs allegations that the company deceived consumers about how much money they could get and how fast that money could be available. The complaint, filed in federal district court along with the proposed settlement order, also alleges that Cleo made it…
U.S. Department of the Treasury Announces Publication of Interim Final Rule Removing Reporting Requirements for U.S. Companies and U.S. Persons
March 26, 2025 / Source: Treasury
WASHINGTON ââ The Treasury Department announces today the formal publication of the Financial Crimes Enforcement Network (FinCEN) interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act and narrows the scope of the rule to foreign reporting companies. This publication in…
FTC Chairman Andrew N. Ferguson Appoints Deputy Directors of the Bureaus of Competition and Consumer Protection
March 26, 2025 / Source: FTC
Federal Trade Commission Chairman Andrew N. Ferguson today announced he has appointed Taylor C. Hoogendoorn as Deputy Director of the Bureau of Competition and Katherine White as Deputy Director of the Bureau of Consumer Protection. Hoogendoorn is a talented litigator with expertise in a wide range of litigation, including antitrust, tort, contractual, energy, and intellectual…
CFPB Seeks to Vacate Abusive, Unjust Case Against Townstone
March 26, 2025 / Source: CFPB
WASHINGTON, D.C. â Today, the Acting Director of the Consumer Financial Protection Bureau (CFPB) Russ Vought is seeking to vacate the settlement the CFPB extracted from Townstone after a seven-year harassment saga. Using a âredlining screenâ based on an arbitrary number of mortgages, CFPB set out to destroy a small Midwest firm with about ten employees…
Acting Comptroller Discusses Financial Inclusion
March 25, 2025 / Source: OCC
WASHINGTONâActing Comptroller of the Currency Rodney E. Hood today discussed financial inclusion in remarks at the National Association of Hispanic Real Estate Professionalsâ Homeownership and Housing Policy Conference. Mr. Hoodâs written remarks in support of his presentation discussed the work of the OCCâs Project REACh to support affordable homeownership. Related Links
Speech – Latinos, Entrepreneurs, and the U.S. Economy
March 25, 2025 / Source: FRB
Thank you, Ramiro, and thank you for the opportunity to speak with all of you today.1 Welcome to Washington, D.C.! Bienvenidos a la capital! I hope you have a productive conference and an enjoyable visit. I am honored to speak with you today because I have long appreciated the efforts of the U.S. Hispanic Chamber of…
Treasury Sanctions Additional Iranian Intelligence Officers Involved in the Probable Death and Cover-Up of Robert Levinson
March 25, 2025 / Source: Treasury
WASHINGTON â Today, the Department of the Treasuryâs Office of Foreign Assets Control (OFAC), in coordination with the Federal Bureau of Investigation (FBI), is imposing sanctions on three Iranian Ministry of Intelligence and Security (MOIS) officials who were involved in the abduction, detention, and probable death of former FBI Special Agent Robert A. âBobâ Levinson….
FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies
March 24, 2025 / Source: FinCEN
WASHINGTONââConsistent with the U.S. Department of the Treasuryâs March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act. In that interim final rule, FinCEN revises the definition of âreporting…
HUD Secretary Scott Turner, DHS Secretary Kristi Noem Establish Interagency Partnership to End Illegal Immigrant Alien Exploitation of Housing Programs
March 24, 2025 / Source: HUD
WASHINGTON â U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner and U.S. Department of Homeland Security (DHS) Secretary Kristi Noem today signed the âAmerican Housing Programs for American Citizensâ Memorandum of Understanding (MOU), to end the wasteful misappropriation of taxpayer dollars to benefit illegal aliens instead of American citizens. As part of…
Speech – Helping Small Businesses Reach Their Potential
March 24, 2025 / Source: FRB
Thank you for the opportunity to speak to you today.1 The United States has an enviable entrepreneurial culture and a strong track record of building new companies. Yet, new and small business owners often navigate significant challenges from establishment to growth. These challenges typically include limitations in accessing capital, in developing robust business and professional networks…
OCC Reports Mortgage Performance for Fourth Quarter of 2024
March 24, 2025 / Source: OCC
WASHINGTONâThe Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the fourth quarter of 2024. The OCC Mortgage Metrics Report, Fourth Quarter 2024 showed that 97.3 percent of mortgages included in the report were current and performing at the end of the quarter, an increase…
Secretary Scott Turner Discusses HUD Priorities and Housing Agenda â “We want to create a culture of excellence at HUD.”
March 23, 2025 / Source: HUD
Washington, DC – U.S. Housing and Urban Development (HUD) Secretary Scott Turner sat down with Bret Baier on Fox Newsâ âSpecial Reportâ for a behind the scenes look at HUD headquarters and to layout his priorities and vision for the department. Watch the full interview HERE filmed live from HUD or read highlights below. HUDâs Mission to Serve…
READOUT: Financial Stability Oversight Council Meeting on March 20, 2025
March 23, 2025 / Source: Treasury
During the meeting, Secretary Bessent shared his priorities for the Council. As Chairperson, he intends to prioritize enhancements to the member agenciesâ supervisory and regulatory frameworks, as well as other efforts to position banks and other regulated entities to foster innovation and otherwise support economic growth. He encouraged the member agencies to re-focus their supervision…