Banking compliance professionals require hot-topic news on consumer and regulatory compliance updates, decisions, amendments, changes and launches from across a wide spectrum of news agencies and federal websites. Not only do we update our News pages with individual news items and their links, but these are sent to members in a Daily Bank Compliance email that can be signed up for once new members log-in. Compliance Alliance monitors these agencies for bank compliance news updates throughout the dayâposting relevant information to our News page. This is a valuable resource for Bank Managers and their employees.
Whitelist [email protected] to ensure that you receive your update email.
If you’re still having difficulties receiving this Daily Email Campaign, please contact us at once through [email protected].
Terrorist Financing Targeting Center Designates Al-Shabaab Networks in Somalia
April 14, 2025 / Source: U.S. Department of the Treasury
RIYADH, SAUDI ARABIA â Today, the seven members of the Terrorist Financing Targeting Center (TFTC) announced joint designations of 15 al-Shabaab leaders, operatives, and financial facilitators operating in Somalia. These targets were involved in a wide range of activities in support of al-Shabaab, including fundraising and proliferation of Improvised Explosive Devices (IEDs). This is the…
CFPB Offers Regulatory Relief From Registration Requirements for Small Loan Providers
April 13, 2025 / Source: Consumer Financial Protection Bureau
WASHINGTON, D.C. â The Consumer Financial Protection Bureau is announcing today that, with respect to the regulation titled Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders, 89 Fed. Reg. 56028 (July 8, 2024) (codified at 12 CFR part 1092), it will not prioritize enforcement or supervision actions with regard to entities that…
CSBS Supports Rescinding FDIC Bank Merger Policy and Recommends Areas for Reform
April 10, 2025 / Source: Conference of State Bank Supervisors
Washington, D.C. – State financial regulators voiced support for rescinding the FDICâs current bank merger policy statement and suggested reforms that would modernize and improve the M&A framework in a letter sent today from the Conference of State Bank Supervisors (CSBS). To enable growth and the long-term stability of community banks and the broader financial system, bank merger policy…
Former bank executive indicted for $2 million fraud scheme
April 10, 2025 / Source: Office of Inspector General Federal Deposit Insurance Corporation
April 9, 2025 EAST ST. LOUIS, Ill. â A federal grand jury in southern Illinois charged the former second-in-command of the Bank of OâFallon for engaging in a fraud scheme to obtain more than $2 million. Andrew P. Blassie, 69, of St. Louis, is facing one count of bank fraud and one count of interstate transportation…
Treasury Targets Network Transporting Hundreds of Millions of Dollarsâ Worth of Iranian Petroleum
April 10, 2025 / Source: U.S. Department of the Treasury
April 10, 2025 WASHINGTON â Today, the Department of the Treasuryâs Office of Foreign Assets Control (OFAC) is designating United Arab Emirates (UAE)-based Indian national Jugwinder Singh Brar (Brar), who owns multiple shipping companies that boast a fleet of nearly 30 vessels, many of which operate as part of Iranâs âshadow fleet.â OFAC is also designating two…
FinCEN Convenes FinCEN Exchange Sessions to Provide Stakeholders with Information About U.S. Southwest Border Geographic Targeting Order
April 9, 2025 / Source: Financial Crimes Enforcement Network
Immediate Release April 09, 2025 WASHINGTONâThis week, the U.S. Department of the Treasuryâs Financial Crimes Enforcement Network (FinCEN), in collaboration with the Texas Department of Banking, held two informational webinars regarding the U.S. Southwest Border Geographic Targeting Order (GTO) with money services businesses (MSBs) and related trade groups, state regulators, and law enforcement agencies. These webinars, held…
OCC Notifies Congress of Incident Involving Email System
April 9, 2025 / Source: Office of the Comptroller of the Currency
WASHINGTONâThe Office of the Comptroller of the Currency (OCC) today notified Congress of a major information security incident, as required by the Federal Information Security Modernization Act. This finding is the result of internal and independent third-party reviews of OCC emails and email attachments that were subject to unauthorized access. On February 11, 2025, the…
From FinCEN: Analysis of Fentanyl-Related Threat Patterns and Trends in Bank Secrecy Act Reports
April 9, 2025 / Source: U.S. Department of the Treasury
April 9, 2025 WASHINGTONâToday, the U.S. Department of the Treasuryâs Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis focused on patterns and trends identified in Bank Secrecy Act (BSA) data linked to fentanyl-related illicit finance. Between January and December 2024, financial institutions filed 1,246 BSA reports that identified suspected fentanyl-related activity amounting to approximately $1.4…
Treasury Imposes Sanctions on Enablers of Iranâs Nuclear Program
April 9, 2025 / Source: U.S. Department of the Treasury
April 9, 2025 WASHINGTON â Today, the Department of the Treasuryâs Office of Foreign Assets Control (OFAC) is designating five entities and one individual based in Iran for their support to key entities that manage and oversee Iranâs nuclear program, including the Atomic Energy Organization of Iran (AEOI) and the AEOI-subordinate Iran Centrifuge Technology Company…
Treasury Targets Key Leader of Violent Mexican Drug Trafficking Organization Implicated in Record-Breaking Seizure of Fentanyl
April 9, 2025 / Source: U.S. Department of the Treasury
April 9, 2025 WASHINGTON â Today, the U.S. Department of the Treasuryâs Office of Foreign Assets Control (OFAC) sanctioned Mexican national Jesus Alfredo Beltran Guzman, a key leader of the Beltran Leyva Organization (BLO), for playing a significant role in the trafficking of illicit drugs, including fentanyl, cocaine, heroin, and methamphetamine, into the United States. One of the…
Treasury Secretary Scott Bessent Remarks before the American Bankers Association
April 9, 2025 / Source: U.S. Department of the Treasury
April 9, 2025 As prepared for delivery. Thank you. Itâs an honor to be with you this morning. Let me begin by conveying the best wishes of our President. President Trump understands that national strength comes from the ground upânot the top down. This concept applies to good government just as much as it does…
Community Bankers on Economy: Sunshine with Some Dark Clouds Emerging
April 8, 2025 / Source: Conference of State Bank Supervisors
Washington, D.C. – Community bankers report an overall positive economic outlook for a third consecutive quarter, but their confidence in future business conditions is fading, according to the first quarter Community Bank Sentiment Index (CBSI) results. The Conference of State Bank Supervisors (CSBS) polls community banks nationwide quarterly to gauge their sentiment in seven economic components. A score…
Fannie Mae Fires Over 100 Employees for Unethical Conduct, Including the Facilitation of Fraud
April 8, 2025 / Source: Federal Housing Finance Agency
for immediate release 04/08/2025 Washington, D.C. â Today, the U.S. Federal Housing Finance Agency (U.S. Federal Housing FHFA) and Fannie Mae issued the following statement: âIn President Trumpâs housing market, there is no room for fraud, mortgage fraud, or any other deceitful act that can jeopardize the safety and soundness of the housing industry,â said William…
HUD Extends Foreclosure Relief to More than One Million FHA Borrowers Recovering from Hurricanes Helene and Milton
April 8, 2025 / Source: U.S. Department of Housing and Urban Development
Second extension of foreclosure moratoriums provides flexibility for disaster impacted communities Washington – Today, U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the Federal Housing Administration (FHA) is extending by an additional 90 days its existing foreclosure moratoriums on FHA-insured single family mortgages in the Presidentially-Declared Major Disaster Areas (PDMDAs) resulting from…
Agency Information Collection (FR H-2)Â [ICP-202513]
April 8, 2025 / Source: Board of Governors of the Federal Reserve System
Information Collection Proposal The Board of Governors of the Federal Reserve System invites comment on a proposal to extend for three years, without revision, the Recordkeeping and Disclosure Requirements Associated with Regulation H (Loans Secured by Real Estate Located in Flood Hazard Areas) (FR H-2; OMB No. 7100-0280). Comments Due: 06/02/2025
OCC Bulletin 2025-6 Community Reinvestment Act, Fair Housing Act, and Equal Credit Opportunity Act:Â OCC Contact Information for Certain Notices and Posters
April 8, 2025 / Source: Office of the Comptroller of the Currency
Summary This bulletin informs banks1 of the appropriate names and addresses for notices required by the Community Reinvestment Act (CRA) and Equal Credit Opportunity Act, and for posters required by the Fair Housing Act. Banks should make the appropriate changes to their notices and posters, if necessary, within 90 days of this bulletinâs date of issuance….
ABA urges CFPB to reconsider financial abuse reporting rule
April 7, 2025 / Source: American Bankers Association
A proposed rule to extend the Fair Credit Reporting Actâs identity theft protections to certain negative information on the credit reports of financial abuse victims is not the appropriate vehicle to address the problem, the American Bankers Association said today in a letter to the Consumer Financial Protection Bureau. The CFPB last year issued an advanced notice…
Consumer credit decreased 0.2% in February
April 7, 2025 / Source: American Bankers Association
Consumer credit edged down at a seasonally adjusted annual rate of 0.2% in February. Total outstanding credit increased to $4.997 trillion during the month. Revolving credit, largely a reflection of credit card debt, edged up at an annual rate of 0.1% to $1.324 trillion. Non-revolving credit decreased at an annual rate of -0.3% to $3.673…
Keynote Remarks 2025 Fintech Conference
April 7, 2025 / Source: Conference of State Bank Supervisors
Keynote Remarks 2025 Fintech Conference: Bank-Fintech Partnerships|Distributed Ledger Technology|Regulation and Fintech Innovation Conference of State Bank Supervisors President and CEO Brandon MilhornFederal Reserve Bank of San FranciscoApril 4, 2025 Thank you for that kind introduction. I would like to thank President Mary Daly and the San Francisco Fed for the opportunity to participate in this discussion of innovation…
SEC Announces Agenda, Panelists for Roundtable on Crypto Trading
April 7, 2025 / Source: U.S. Securities and Exchange Commission
Washington D.C., April 7, 2025 â The Securities and Exchange Commissionâs Crypto Task Force has announced the agenda and panelists for its April 11 roundtable, âBetween a Block and a Hard Place: Tailoring Regulation for Crypto Trading.â âHearing the publicâs concerns and suggestions helps the SEC create a clear, sensible, and fair path forward for the…
FTC Highlights Actions to Protect Consumers from Impersonation Scams
April 7, 2025 / Source: Federal Trade Commission
Impersonation scams are among the top reported frauds to the FTC, with losses totaling $2.95 billion in 2024 April 4, 2025 Tags: The Federal Trade Commission today highlighted actions taken to protect consumers from impersonations scams since the Government and Business Impersonation Rule took effect in April 2024. Scams impersonating businesses and government are consistently among the…
HUD Secretary Scott Turner Doubles Down on Ensuring HUD Resources Do Not Benefit Illegal Aliens
April 7, 2025 / Source: U.S. Department of Housing and Urban Development
Directive halts misuse of taxpayer funds meant for Americans WASHINGTON â U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner today issued a letter to grantees and stakeholders underscoring that federal housing assistance will no longer be granted to illegal aliens or sanctuary cities. The directive reinforces HUD programs are strictly reserved for the…
OCC Bulletin 2025-5 Community Reinvestment Act:Â Rescinding the 2023 CRA Final Rule
April 7, 2025 / Source: Office of the Comptroller of the Currency
Summary 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) announced on March 28, 2025, in light of recent litigation, their intent to issue a proposal to rescind the Community Reinvestment Act (CRA) final rule issued in…
Treasury Department Announces New Appointments
April 7, 2025 / Source: U.S. Department of the Treasury
WASHINGTON â Today Secretary of the Treasury Scott Bessent announced key appointments for senior positions at the U.S. Department of the Treasury. Biographies of the appointees are listed below in alphabetical order: Rebecca Oakes Burch will serve as Deputy Assistant Secretary for International Tax Affairs at the Department of the Treasury. She began her career…
Speech – AI, Fintechs, and Banks
April 6, 2025 / Source: FRB
Good morning and thank you to the conference organizers for having me here today.1 It’s great to see such a diverse audience of fintech innovators, bankers, fellow regulators, and students. We all play a part in fostering responsible innovation. Responsible innovation requires a few thingsâhaving the optimism and curiosity to understand the potential benefits, the rigor…