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Readout from the Financial Literacy and Education Commission September 2025 Public Meeting on Payment Fraud
September 25, 2025 / Source: Treasury
WASHINGTON — Yesterday, the U.S. Department of the Treasury hosted a convening of the Financial Literacy and Education Commission (FLEC) focused on federal efforts to combat payment fraud and implement Executive Order 14247, Modernizing Payments To and From America’s Bank Account, which mandates the transition to the use of electronic payments for federal disbursements and receipts beginning…
Treasury Targets Arms Trafficking Network and Financial Facilitators for DPRK Weapons Programs
September 25, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning five individuals and one entity for their role in generating illicit revenue for the Democratic People’s Republic of Korea (DPRK) government’s weapons of mass destruction (WMD) and ballistic missile programs, including by selling weapons to the Burmese military regime….
Speech – Preserving the Dynamism and Credibility of Stress Testing
September 25, 2025 / Source: FRB
Thank you for the opportunity to speak to you.1 Today, I would like to discuss a vital tool for supervising the safety and soundness of the largest banks and preserving the stability of our financial system. I was there, at the Treasury Department in 2009, when stress testing was first used in the United States…
U.S. Federal Housing Completes Withdrawal from International “Greening the Financial System” Network
September 25, 2025 / Source: FHFA
Washington, D.C. — U.S. Federal Housing has formalized its withdrawal from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) in a letter to the Chair of NGFS. In the letter, the Agency states that employees will no longer engage in NGFS committees, taskforces, or working groups, and further requests to be…
OCC Reports Mortgage Performance for Second Quarter of 2025
September 24, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the second quarter of 2025. The OCC Mortgage Metrics Report, Second Quarter 2025 showed that 97.5 percent of mortgages included in the report were current and performing at the end of the quarter, an increase…
Remarks by Secretary of the Treasury Scott Bessent Before the Financial Literacy and Education Commission
September 24, 2025 / Source: Treasury
September 24, 2025 As prepared for delivery Good morning, everyone. And thank you for joining us today and for your commitment to financial literacy. On the dawn of our great nation’s 250th anniversary, President Trump is unleashing a new economic Golden Age. Our Administration is committed to delivering the benefits to all citizens. We want every…
Treasury Sanctions Indian Nationals and Online Pharmacy for Supplying Counterfeit Fentanyl-Laden Pills
September 24, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two Indian nationals, Sadiq Abbas Habib Sayyed and Khizar Mohammad Iqbal Shaikh, for their role in collectively supplying hundreds of thousands of counterfeit prescription pills filled with fentanyl and other illicit drugs to victims across the United States. OFAC is also designating one…
U.S. Treasury Department Announces Major Progress in IT Modernization Initiatives
September 23, 2025 / Source: Treasury
The U.S. Department of the Treasury today announced significant progress across its IT modernization agenda within the IRS, underscoring its commitment to improving taxpayer services, enhancing cybersecurity, strengthening compliance, and filing season operations. To enable delivery of these objectives, Treasury has entered into a series of Blanket Purchase Agreements (BPAs) with leading technology providers. All commercial…
Speech – Economic Outlook
September 23, 2025 / Source: FRB
Thank you. It is a pleasure to be back here in Rhode Island. The last time I had the opportunity to speak to the Greater Providence Chamber of Commerce was in the fall of 2019. I noted then that, “if the outlook changes materially, policy will change as well.”1 Little did any of us know!…
Treasury to Host In-Person Meeting of the Financial Literacy and Education Commission
September 22, 2025 / Source: Treasury
WASHINGTON, D.C. – On Wednesday, September 24 at 10:00 AM, Secretary of the Treasury Scott Bessent will chair a public meeting of the Financial Literacy and Education Commission (FLEC). The meeting will focus on payments fraud and feature panel discussions on national trends in payments fraud and federal agency efforts to implement Executive Order 14247, Modernizing Payments To and From America’s…
Delaying the Effective Date of the Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers
September 22, 2025 / Source: FinCEN
A Proposed Rule by the Financial Crimes Enforcement Network on 09/22/2025 AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Notice of proposed rulemaking (NPRM). SUMMARY: FinCEN is proposing to amend the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) Program and Suspicious Activity Report (SAR) Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers (IA AML Rule) to delay…
Semiannual Regulatory Agenda
September 22, 2025 / Source: CFPB
A Notice by the Consumer Financial Protection Bureau on 09/22/2025 AGENCY: Consumer Financial Protection Bureau. ACTION: Semiannual Regulatory Agenda. SUMMARY: The Consumer Financial Protection Bureau (CFPB) is publishing this agenda as part of the Spring 2025 Unified Agenda of Federal Regulatory and Deregulatory Actions. The CFPB reasonably anticipates having the regulatory matters identified below under consideration during the period…
Boosting Collaboration Between UK and U.S. Financial Systems to Drive Innovation and Growth in Global Markets
September 22, 2025 / Source: Treasury
The Chancellor of the Exchequer, Rachel Reeves, welcomed U.S. Treasury Secretary, Scott Bessent, to Downing Street last week for a joint industry roundtable where they reaffirmed the deep and historic connection between the world’s leading financial hubs in the United Kingdom and United States. To ensure the strength of this relationship is maintained into the future, and through…
Treasury Sanctions Support Network of Brazilian Supreme Court Justice
September 22, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning the Lex Instituto de Estudos Juridicos LTDA (Lex Institute) for its support to Brazilian Supreme Federal Court (STF) justice Alexandre de Moraes (de Moraes). De Moraes was designated by OFAC on July 30, 2025, for using his position to authorize arbitrary pre-trial detentions and…
Treasury Seeks Public Comment on Implementation of the GENIUS Act
September 21, 2025 / Source: Treasury
WASHINGTON – Today, the U.S. Department of the Treasury issued an Advance Notice of Proposed Rulemaking (ANPRM), seeking public comment related to Treasury’s implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The GENIUS Act tasks Treasury with issuing regulations that encourage innovation in payment stablecoins while also providing an appropriately tailored…
FinCEN Issues Proposed Rule to Postpone Effective Date of Investment Adviser Rule
September 21, 2025 / Source: FinCEN
Immediate Release September 19, 2025 Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking to extend the effective date of the final rule establishing Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers (IA AML Rule)…
FDIC Releases Results of Summary of Deposits Annual Survey
September 21, 2025 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2025. The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 76,000 domestic offices operated by more than 4,400 FDIC-insured commercial and savings banks, savings associations,…
Federal Reserve Board publishes agenda for its community bank conference, which will take place on Thursday, October 9
September 21, 2025 / Source: FRB
The Federal Reserve Board on Friday published the agenda for its community bank conference, which will take place on Thursday, October 9. The conference will bring together a range of interested parties to discuss key issues facing the community bank sector. “Community banks are the cornerstone of local economies—driving growth and creating jobs across the…
HUD Hosts Historic Innovative Housing Showcase, Underscores Commitment to Harnessing Innovation to Reduce Housing Costs
September 21, 2025 / Source: HUD
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) hosted its annual Innovative Housing Showcase on the National Mall welcoming more than 5,000 people, including policymakers, industry leaders, media, and members of the public. Themed, “The American Home is the American Dream,” the showcase commemorated America’s 250th birthday in partnership with the America250 Initiative, and spotlighted private…
SBA Waives Loan Fees for Small Manufacturers in Fiscal Year 2026
September 18, 2025 / Source: SBA
WASHINGTON – Today, in support of the Trump Administration’s broader effort to rebuild American industrial dominance, the U.S. Small Business Administration (SBA) announced that it would waive most upfront fees for small manufacturers in fiscal year 2026. With the fee burden reduced, the SBA will empower more small manufacturers (NAICS 31-33) with the capital to increase hiring, growth,…
OCC Announces Updates to Organizational Structure
September 18, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a new organizational framework for bank supervision and updates to the structure of its Office of the Chief National Bank Examiner. Effective October 1, three distinct lines of business will replace the Bank Supervision and Examination group: Large and Global Financial Institutions, Regional and…
Treasury Sanctions Powerful Faction of the Terrorist Sinaloa Cartel
September 18, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Sinaloa Cartel faction Los Mayos, along with the leader of the faction’s armed wing. These sanctions follow Under Secretary of the Treasury for Terrorism and Financial Intelligence John K. Hurley’s visit to the U.S.-Mexico border. OFAC also designated five individuals and 15…
Remarks by Under Secretary for Terrorism and Financial Intelligence John K. Hurley at the Association of Certified Anti-Money Laundering Specialists Assembly Conference
September 17, 2025 / Source: Treasury
Good morning. Thank you, Justine, for that very kind introduction, and thank you all for allowing me to speak with you today. As the biography that Justine just read indicated, I had the opportunity right after college to serve in the U.S. Army. What the bio does not include is that my father was a…
READOUT: Second Annual FINTRAC-FinCEN Symposium in Washington, D.C.
September 17, 2025 / Source: FinCEN
WASHINGTON—On September 15 and 16, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC)—the financial intelligence units of the United States and Canada—convened the Second Annual FINTRAC–FinCEN Anti-Money Laundering and Anti-Terrorist Financing Symposium in Washington, D.C. Government officials from Australia and the United Kingdom…
HUD Secretary Scott Turner Hosts Tribal Intergovernmental Advisory Committee and Announces National Tribal Housing Summit
September 17, 2025 / Source: HUD
WASHINGTON, D.C. – The U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner recently hosted HUD’s Tribal Intergovernmental Advisory Committee (TIAC) meeting at HUD’s headquarters. The convening included Tribal leaders from across the nation who make up HUD’s TIAC. “Since day one, I have stated my commitment to make Tribal communities a priority here…