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FinCEN Issues Advisory and Financial Trend Analysis on Chinese Money Laundering Networks
August 28, 2025 / Source: FinCEN
WASHINGTON — Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is raising the alarm on Chinese money laundering networks (CMLNs), which pose a significant threat to the U.S. financial system. FinCEN is issuing: (1) an Advisory to urge financial institutions to be vigilant in detecting the use of CMLNs by Mexico-based drug cartels, including several designated as…
OCC Issues Fourth Quarter 2025 and First Quarter 2026 CRA Evaluation Schedule
August 27, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the fourth quarter of 2025 and the first quarter of 2026. The OCC encourages public comment on the CRA-related activities of the national banks and federal savings associations (collectively, banks) scheduled to…
Telemarketer Fees to Access the FTC’s National Do Not Call Registry to Increase in 2026
August 27, 2025 / Source: FTC
The Federal Trade Commission today announced new fees for telemarketers to access phone numbers on the National Do Not Call (DNC) Registry for Fiscal Year 2026, which begins on October 1, 2025. All telemarketers calling consumers in the United States are required to download the numbers on the National DNC Registry to ensure they do not…
Treasury Sanctions Fraud Network Funding DPRK Weapons Programs
August 27, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Vitaliy Sergeyevich Andreyev, Kim Ung Sun, Shenyang Geumpungri Network Technology Co., Ltd, and Korea Sinjin Trading Corporation for their roles in a fraudulent information technology (IT) worker scheme orchestrated by the Democratic People’s Republic of Korea (DPRK) government. “The North Korean regime continues to target American…
SBA Orders Lenders to End Practice of Debanking
August 27, 2025 / Source: SBA
WASHINGTON — Today, the U.S. Small Business Administration (SBA) sent a letter to its network of over 5,000 lenders instructing them to end politicized or unlawful banking practices. Pursuant to Executive Order 14331, “Guaranteeing Fair Banking for All Americans,” SBA is requiring all lenders to stop the practice of Obama- and Biden-era debanking, and to reinstate otherwise qualified customers…
FDIC-Insured Institutions Reported Return on Assets of 1.13 Percent and Net Income of $69.9 Billion in Second Quarter 2025
August 26, 2025 / Source: FDIC
WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) today released the results of its latest Quarterly Banking Profile, a comprehensive summary of financial results based on reports from 4,421 insured commercial banks and savings institutions. In second quarter 2025, insured depository institutions reported a return on assets (ROA) ratio of 1.13 percent and aggregate net income of $69.9 billion, a…
U.S. House Prices Rise 2.9 Percent Year over Year; Unchanged Quarter over Quarter
August 26, 2025 / Source: FHFA
Washington, D.C. – U.S. house prices rose 2.9 percent between the second quarter of 2024 and the second quarter of 2025, according to the U.S. Federal Housing (FHFA) House Price Index (FHFA HPI®). House prices for the second quarter of 2025 remained unchanged compared to the first quarter of 2025. FHFA’s seasonally adjusted monthly index for June was…
FTC Sues to Stop Air AI from Using Deceptive Claims about Business Growth, Earnings Potential, and Refund Guarantees to Bilk Millions from Small Businesses
August 25, 2025 / Source: FTC
The Federal Trade Commission has asked a federal court to stop Air AI from using allegedly deceptive claims about business growth, earnings potential, and refund guarantees to fleece small businesses and entrepreneurs. The FTC alleges consumers, many of whom are small business owners, lose as much as $250,000 and are often left in debt after relying on…
Federal Open Market Committee announces approval of updates to its Statement on Longer-Run Goals and Monetary Policy Strategy
August 24, 2025 / Source: FRB
The Federal Open Market Committee (FOMC) on Friday announced the unanimous approval of updates to its Statement on Longer-Run Goals and Monetary Policy Strategy, which articulates the Committee’s approach to monetary policy and serves as the foundation for its policy actions. The updated statement, also commonly known as the consensus statement, emphasizes that the FOMC’s monetary…
Speech – Monetary Policy and the Fed’s Framework Review
August 24, 2025 / Source: FRB
Over the course of this year, the U.S. economy has shown resilience in a context of sweeping changes in economic policy. In terms of the Fed’s dual-mandate goals, the labor market remains near maximum employment, and inflation, though still somewhat elevated, has come down a great deal from its post-pandemic highs. At the same time,…
HUD Announces Sponsors for the 2025 Innovative Housing Showcase
August 21, 2025 / Source: HUD
WASHINGTON – Today the U.S. Department of Housing and Urban Development (HUD) announced the presenting sponsors for the 2025 Innovative Housing Showcase: The International Code Council (ICC), The Manufactured Housing Institute (MHI), The Structural Building Components Association (SBCA), and The Home Depot. As a proud part of the America 250 Initiative, the showcase will feature the theme, “The American Home Is The…
Treasury Targets Iranian Oil Exports and Shadow Fleet
August 21, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is further disrupting Iran’s oil exports by imposing sanctions on Greek national Antonios Margaritis, his network of companies, and nearly a dozen vessels involved in Iran’s shadow fleet. Margaritis has leveraged his decades of experience in the shipping industry to illicitly facilitate the…
FTC Chairman Ferguson Warns Companies Against Censoring or Weakening the Data Security of Americans at the Behest of Foreign Powers
August 21, 2025 / Source: FTC
Federal Trade Commission Chairman Andrew N. Ferguson sent letters today to more than a dozen prominent technology companies reminding them of their obligations to protect the privacy and data security of American consumers despite pressure from foreign governments to weaken such protections. He also warned them that censoring Americans at the behest of foreign powers…
Treasury Extends Effective Dates of Orders Issued Under New Authority to Counter Fentanyl
August 20, 2025 / Source: FinCEN
WASHINGTON — Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) extended the effective dates for orders issued on June 25, 2025, prohibiting certain transmittal of funds involving three Mexico-based financial institutions. Covered financial institutions will now have until October 20, 2025, to implement the orders prohibiting certain transmittal of funds involving CIBanco S.A., InstituciĂłn de…
Speech – Technological Advancements in Payments
August 20, 2025 / Source: FRB
Thank you for inviting me to speak today on payments innovation.1 It is an exciting time to work in payments. While I have always been interested in the topic, I would have never imagined decades ago that payments would generate this amount of enthusiasm, where now some of the coolest jobs in tech are working in…
Speech – Embracing Innovation
August 19, 2025 / Source: FRB
Good afternoon and thank you to the organizers of the 2025 Wyoming Blockchain Symposium for inviting me to speak to you today.1 It is an honor to be included in this year’s event, which is being held at a critical moment for American leadership in the digital asset space. We are at the beginning of what…
FDIC Board Approves Proposal to Amend Official Signs and Advertising Requirements
August 19, 2025 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a proposed rule to amend regulations governing the display of the FDIC official digital sign and non-deposit signage. The proposal would simplify requirements for banks’ display of the FDIC official digital sign and non-deposit signage on digital deposit-taking channels, such as bank…
Treasury Issues Request for Comment Related to the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act
August 18, 2025 / Source: Treasury
WASHINGTON – Today, the U.S. Department of the Treasury issued a Request for Comment required by the GENIUS Act, which furthers the Administration’s policy of supporting the responsible growth and use of digital assets, as outlined in Executive Order (E.O.) 14178 on “Strengthening American Leadership in Digital Financial Technology.” Today’s request for comment fulfills Treasury’s obligation pursuant to section 9(a)…
Treasury Sanctions Notorious Costa Rican Narcotraffickers
August 18, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four Costa Rican nationals, as well as two Costa Rica-based entities, for their involvement in narcotics trafficking and money laundering. A key global cocaine transshipment hub, Costa Rica has become an increasingly significant waypoint for criminal groups trafficking cocaine into the…
Bank Accounting Advisory Series Updated
August 17, 2025 / 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…
Federal Reserve Board announces it will sunset its novel activities supervision program and return to monitoring banks’ novel activities through the normal supervisory process
August 17, 2025 / Source: FRB
The Federal Reserve Board on Friday announced that it will sunset its novel activities supervision program and return to monitoring banks’ novel activities through the normal supervisory process. Since the Board started its program to supervise certain crypto and fintech activities in banks, the Board has strengthened its understanding of those activities, related risks, and…
Treasury Announces Federal Government Will Phase Out Paper Checks on September 30th
August 14, 2025 / Source: Treasury
WASHINGTON – The U.S. Department of the Treasury announced that the federal government will stop issuing paper checks for most federal payments on September 30, 2025. If you are one of the few people who still receives a federal benefit check, it’s time to switch to an electronic payment method. “Reducing paper checks has been a longstanding…
Treasury Sanctions Cryptocurrency Exchange and Network Enabling Sanctions Evasion and Cyber Criminals
August 14, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is re-designating the cryptocurrency exchange Garantex Europe OU (Garantex), which has directly facilitated notorious ransomware actors and other cybercriminals by processing over $100 million in transactions linked to illicit activities since 2019. OFAC is also designating Garantex’s successor, Grinex, and taking action against three executives…
Broad Coalition to Congress: Strike Uninsured Depository Flaw in Genius Act
August 13, 2025 / Source: CSBS
Washington, D.C. – A broad coalition of state, consumer, and bank groups have joined the Conference of State Bank Supervisors (CSBS) in asking Congress to strike a provision in the recently passed stablecoin legislation that risks harming consumers, creates an unlevel playing field for certain uninsured banks, and significantly erodes state authority to supervise these institutions. Section 16(d)…
Treasury Targets Terrorism and Timeshare Fraud in Mexico
August 13, 2025 / Source: Treasury
WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned four Mexican individuals and 13 Mexican companies linked to timeshare fraud led by the Cartel de Jalisco Nueva Generacion (CJNG). These individuals and companies are based in or near Puerto Vallarta, a popular tourist destination that also serves as a strategic…