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Kate Tyrrell Named Chief of Staff and Senior Deputy Comptroller
July 23, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced the appointment of Kate Tyrrell as Chief of Staff and Senior Deputy Comptroller. “Kate’s broad expertise and significant management experience will be a tremendous asset to my leadership team and the entire agency,” said Comptroller of the Currency Jonathan V. Gould. “She will be…
John Hurley Confirmed by the United States Senate
July 23, 2025 / Source: Treasury
WASHINGTON — Today, the United States Senate confirmed John Hurley to be the next Under Secretary for Terrorism and Financial Intelligence at the United States Department of the Treasury. “It is a great honor and privilege to serve as Under Secretary for Terrorism and Financial Intelligence at such a crucial time for the United States. I…
Speech – At the Integrated Review of the Capital Framework for Large Banks Conference, Federal Reserve Board, Washington, D.C.
July 22, 2025 / Source: FRB
Good morning, and welcome to the Federal Reserve Board. I am pleased, though not surprised, to see such great interest in the topic of today’s conference—the integrated review of the capital framework for large banks. I want to thank Vice Chair for Supervision Bowman for having the great idea of holding this event at the…
Treasury Secretary Scott Bessent Remarks at the Federal Reserve Capital Conference
July 22, 2025 / Source: Treasury
Good evening, it’s an honor to be with you tonight. Let me first express my appreciation to Vice Chair Bowman for arranging tomorrow’s conference. The Vice Chair has certainly hit the ground running, and we are all impressed by her early results. I share with her a strong view on the urgency of reform. And…
Treasury Sanctions Houthi-Linked Petroleum Smuggling and Sanctions Evasion Network
July 22, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating two individuals and five entities that profit through money laundering and importing petroleum products into territory controlled by Ansarallah, commonly known as the Houthis. The Iran-backed Houthis gain hundreds of millions of dollars annually by working with Yemeni businessmen…
Federal bank regulatory agencies seek further comment on interagency effort to reduce regulatory burden
July 21, 2025 / Source: FRB
The federal bank regulatory agencies today announced their fourth notice requesting public comment to reduce regulatory burden. The Economic Growth and Regulatory Paperwork Reduction Act requires the agencies to review their regulations at least once every 10 years to identify outdated, unnecessary, or unduly burdensome regulatory requirements for their supervised institutions. To facilitate this review,…
FTC Halts Illegal Debt-Relief Operation that Falsely Impersonated Businesses and the Government, Harming Consumers
July 21, 2025 / Source: FTC
At the Federal Trade Commission’s request, a federal court has temporarily halted an alleged debt relief services scheme that targeted seniors, including veterans, using a wide range of deceptive conduct, including falsely impersonating consumers’ banks and credit card companies as well as government agencies. The Commission filed a complaint against seven companies and three individuals operating the “Accelerated Debt”…
Statement from U.S. Secretary of the Treasury Scott Bessent on Enactment of the GENIUS Act
July 21, 2025 / Source: Treasury
WASHINGTON – U.S. Secretary of the Treasury Scott Bessent issued the following statement following President Trump’s signing of the GENIUS Act: “Stablecoins represent a revolution in digital finance,” said Treasury Secretary Scott Bessent. “The dollar now has an internet-native payment rail that is fast, frictionless, and free of middlemen. This groundbreaking technology will buttress the…
Treasury Announces Postponement and Reopening of Investment Adviser Rule
July 21, 2025 / Source: Treasury
WASHINGTON––In order to ensure efficient regulation that appropriately balances costs and benefits, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today is announcing its intention to postpone 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…
Comptroller Issues Statement on Enactment of GENIUS Act
July 20, 2025 / Source: OCC
WASHINGTON—Comptroller of the Currency Jonathan V. Gould today issued the following statement on the enactment of the GENIUS Act. The enactment of the GENIUS Act is a monumental and historic accomplishment that will transform the financial services industry. The OCC is prepared to work swiftly to implement this landmark legislation that expands the authority of…
Treasury Sanctions Top Leaders of Tren de Aragua
July 17, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Hector Rusthenford Guerrero Flores (a.k.a. “Niño Guerrero”)—the head of Tren de Aragua—and five other key Tren de Aragua leaders and affiliates. Tren de Aragua is a Foreign Terrorist Organization (FTO) that originated in Venezuela and continues to expand. Niño Guerrero has grown Tren de Aragua…
Speech – AI: A Fed Policymaker’s View
July 17, 2025 / Source: FRB
Thank you, Avi. It is an honor to be back with you at the NBER Summer Institute. Thanks to you, Erik, and Catherine for organizing these insightful and thought-provoking sessions this summer.1 Artificial intelligence (AI) is advancing across the globe and permeating every corner of the economy at an incredibly rapid rate. This has significant…
Stablecoin Framework Must be Sustainable
July 17, 2025 / Source: CSBS
Washington, D.C. – Conference of State Bank Supervisors (CSBS) President and CEO Brandon Milhorn Statement on House Passage of the GENIUS Act: “A national regulatory framework for stablecoins is a vital precondition for a broader, innovative digital asset ecosystem in the United States. The GENIUS Act is a historic, bipartisan effort to accomplish this goal. We…
Agencies Issue Joint Proposal to Rescind 2023 Community Reinvestment Act Final Rule
July 16, 2025 / Source: FDIC
Federal bank regulatory agencies today jointly issued a proposal to rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and replace it with the prior CRA regulations that were originally adopted by the agencies in 1995, with certain technical amendments. If adopted, the proposal would restore certainty in the CRA framework for stakeholders in…
Speech – Booms and Busts and the Regulatory Cycle
July 16, 2025 / Source: FRB
Thank you for the opportunity to speak to you today.1 I am here to discuss one of the most important resources that policymakers have: the lessons of history. In discharging my responsibilities at the Federal Reserve, I have been thinking a lot about history. Its study provides the opportunity to step out of the particular circumstances…
Notice of Proposed Rulemaking on Establishment and Relocation of Branches and Offices
July 15, 2025 / Source: FDIC
Summary: The Federal Deposit Insurance Corporation (FDIC) is inviting public comment on a notice of proposed rulemaking (proposal) (PDF) to amend the FDIC Rules and Regulations governing the processes for an insured State nonmember bank to establish a branch or relocate a main office or branch. The proposal would also make corresponding changes to the processes applicable…
Proposed Amendments to FDIC Guidelines for Appeals of Material Supervisory Determinations
July 15, 2025 / Source: FDIC
Summary: The FDIC is soliciting comment on a proposal to amend the agency’s Guidelines for Appeals of Material Supervisory Determinations (Guidelines). The proposal would replace the current Supervision Appeals Review Committee (SARC) with an independent, standalone office within the FDIC, known as the Office of Supervisory Appeals (Office). The Office would serve as the final level of…
Notice of Proposed Rulemaking on Adjusting and Indexing Certain Regulatory Thresholds
July 15, 2025 / Source: FDIC
Summary: The Federal Deposit Insurance Corporate (FDIC) is inviting comment on a proposed rule that would amend certain regulatory thresholds in the FDIC’s regulations to reflect inflation, including those related to annual independent audit and reporting requirements. Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-insured financial institutions. The…
Request for Information (RFI) on Industrial Banks and Industrial Loan Companies and Their Parent Companies
July 15, 2025 / Source: FDIC
Summary: The Federal Deposit Insurance Corporation (FDIC) is soliciting comments from interested parties on the FDIC’s approach to evaluating the statutory factors applicable to certain filings submitted by industrial banks and industrial loan companies (collectively, industrial banks). Statement of Applicability: Industrial bank and proposed industrial bank applicants. Highlights: FIL-33-2025Attachment(s) Request for Information (RFI) on Industrial Banks…
Jonathan V. Gould Takes Office as the 32nd Comptroller of the Currency
July 15, 2025 / Source: OCC
WASHINGTON—Jonathan V. Gould today became the 32nd Comptroller of the Currency, after being sworn into the office by Dr. Michael Faulkender, Deputy Secretary of the U.S. Treasury. President Donald J. Trump nominated Mr. Gould on February 11, 2025, and the U.S. Senate confirmed him on July 10, 2025. Mr. Gould takes over from Rodney E….
Speech – Expanding Financial Inclusion
July 15, 2025 / Source: FRB
Thank you, Eric; thank you to the Fed staff who have organized this second annual financial inclusion conference; and thank you all for being here.1 I have long believed that financial inclusion is a crucial component of a safe and fair financial system. Working to improve financial inclusion has been an important part of my…
Agencies Issue Joint Statement on Risk-Management Considerations for Crypto-Asset Safekeeping
July 14, 2025 / Source: FDIC
Federal bank regulatory agencies today issued a joint statement in their continued efforts to provide clarity on banks’ engagement in crypto-asset-related activities. The statement highlights for banks potential risk-management considerations related to holding crypto-assets on their customers’ behalf, or crypto-asset safekeeping. The joint statement discusses existing risk-management principles that apply to crypto-asset safekeeping and reminds banks…
OCC Advances Key Priorities Under Acting Comptroller Rodney E. Hood
July 14, 2025 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood’s five-month tenure at the Office of the Comptroller of the Currency (OCC) was marked by measurable progress in strengthening the federal banking system, reducing regulatory burden, promoting financial inclusion, expanding bank activities involving digital assets and embracing bank-fintech partnerships. “Serving as the Acting Comptroller of the Currency…
CFPB Reaches Settlement for Military Lending Act Violations
July 14, 2025 / Source: Consumer Financial Protection Bureau
Washington, D.C. – Today, in the Consumer Financial Protection Bureau’s (CFPB) November 12, 2021 lawsuit against FirstCash, Inc., and nineteen subsidiaries alleging violations of the Military Lending Act (MLA), the parties reached a settlement and jointly filed a stipulated final judgment and proposed order, which if entered by the court, would resolve the lawsuit. The MLA…
Revisions to the Consolidated Reports of Condition & Income (Call Reports) & the FFIEC 002 Report
July 14, 2025 / Source: Federal Deposit Insurance Corporation
Call Reports and Other FFIEC Related Forms and Reports July 11, 2025 Share on Facebook Share on X Follow the FDIC on LinkedIn Share through email Print On July 11, 2025, the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency…