Banker Compliance News

Capturing the important news of the day in an easy to access way. We post news we feel is relevant to our members and community banks nationwide.

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Treasury Sanctions Entities Linked to Violence and Illegal Mining in the Democratic Republic of the Congo

August 12, 2025 / Source: Treasury

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on entities linked to armed group violence and the sale of critical minerals in the Democratic Republic of the Congo (DRC).  Eastern DRC has experienced thousands of civilian deaths and a mass displacement crisis due to ongoing instability, which…

HUD Great Plains Regional Administrator Convenes Listening Sessions with Kansas City Metro Housing Leaders

August 10, 2025 / Source: HUD

KANSAS CITY, Kan. – U.S. Department of Housing and Urban Development (HUD) Great Plains Regional Administrator Joe Mitchell hosted a two-day roundtable with affordable housing developers and finance leaders from the Kansas City metro area to hear firsthand about the state of the housing market in the region. Sessions were designed to provide a forum for…

Statement from Acting Chairman Travis Hill on Executive Order Titled “Guaranteeing Fair Banking For All Americans”

August 10, 2025 / Source: FDIC

The FDIC fully supports President Trump’s Executive Order on politicized or unlawful debanking. As I’ve said in the past, debanking law-abiding customers is unacceptable and regulators must work to end it. The FDIC has taken several actions to further that objective, and soon, we plan to issue a rulemaking that would prohibit examiners from criticizing institutions on the basis…

FTC Data Show a More Than Four-Fold Increase in Reports of Impersonation Scammers Stealing Tens and Even Hundreds of Thousands from Older Adults

August 7, 2025 / Source: FTC

New analysis from the Federal Trade Commission shows a more than four-fold increase since 2020 in reports from older adults who say they lost $10,000 or more—sometimes their entire life savings—to scammers who impersonate trusted government agencies or businesses to convince consumers to transfer money to protect it, when in reality the scammers want to…

Federal Reserve Board announces that it is seeking individuals to serve on its Insurance Policy Advisory Committee

August 7, 2025 / Source: FRB

The Federal Reserve Board on Thursday announced that it is seeking individuals with a diverse set of expert insurance perspectives in life, property and casualty, and reinsurance issues to serve on its Insurance Policy Advisory Committee, or IPAC. The IPAC is comprised of 21 members who serve staggered three-year terms and have diverse professional backgrounds,…

Treasury Targets Iranian Network Evading Sanctions and Enabling Oppression

August 7, 2025 / Source: Treasury

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating 18 entities and individuals that play pivotal roles in the Iranian regime’s efforts to generate revenue and circumvent U.S. sanctions.  Facing severe financial constraints due to international isolation, Iran has engineered sophisticated banking schemes and alternate payment messaging systems…

FDIC Supervisory Approach Regarding the Use of Pre-Populated Information for Purposes of Customer Identification Program Requirements

August 6, 2025 / Source: FDIC

Summary: The FDIC is updating its supervisory approach regarding whether an FDIC-supervised institution can use pre-populated customer information for the purpose of opening an account to satisfy Customer Identification Program (CIP) requirements.  Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions. Highlights: FIL-39-2025Related Topics Bank Secrecy ActContact(s)…

FinCEN Convenes Public-Private Partnership to Promote Innovation and Address Fraud and Scam Risks in the Digital Assets Ecosystem

August 6, 2025 / Source: FinCEN

WASHINGTON â€” On July 15, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) brought together Treasury components, law enforcement agencies, financial institutions, regulatory technology companies, and trade groups to share insights on driving innovation in the digital assets ecosystem while protecting consumers from emerging fraud and scam threats. The FinCEN Exchange event, titled…

Treasury Sanctions Additional Members and Associate of Narco-Terrorist Cartel del Noreste

August 6, 2025 / Source: Treasury

WASHINGTON â€” Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned three high-ranking members and one prominent associate of the Mexico-based Cartel del Noreste (CDN), formerly known as Los Zetas.  CDN, one of the most violent drug trafficking organizations in Mexico, is a U.S.-designated Foreign Terrorist Organization (FTO) that exerts significant…

FTC Sends Money to Student Loan Borrowers Harmed by Debt Relief Scam

August 5, 2025 / Source: FTC

The Federal Trade Commission is sending a total of $743,230 to student loan borrowers harmed by a debt relief scam that falsely promised loan forgiveness and bilked students out of millions. In its complaint against BCO Consulting Services Inc., SLA Consulting Services Inc. and their owners Gianni Olilang, Brandon Clores, Kishan Bhakta, and Allan Radam, the…

Consistent with the One Big Beautiful Bill, U.S. Federal Housing Expands America’s Affordable Housing Supply in Rural and Underserved Communities

August 5, 2025 / Source: FHFA

Washington, D.C. â€” Consistent with President Trump’s historic One Big Beautiful Bill, U.S. Federal Housing is expanding America’s affordable housing supply by doubling the amount that Fannie Mae and Freddie Mac can invest in safe and sound Low Income Housing Tax Credit properties from $1 billion to $2 billion each, a total of $4 billion per…

Exemptive Relief Order to Delay the Effective Date of the Investment Adviser Rule

August 5, 2025 / Source: FinCEN

Issued Date August 05, 2025 External Link Exemptive Relief Order to Delay the Effective Date of the Investment Adviser Ru…

FDIC Issues List of Banks Examined for CRA Compliance

August 5, 2025 / Source: FDIC

WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2025. The CRA is a 1977 law that requires the FDIC to assess a bank’s record…

Federal Reserve Board and FDIC release public sections of resolution plans for banking organizations

August 5, 2025 / Source: FRB

The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) today released the public sections of resolution plans for the eight largest and most complex domestic banking organizations and 56 foreign banking organizations. These banks were required to submit resolution plans by July 1, 2025. Resolution plans, commonly known as living wills, are required…

FinCEN Issues Notice on the Use of Convertible Virtual Currency Kiosks for Scam Payments and Other Illicit Activity

August 4, 2025 / Source: FinCEN

WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice urging financial institutions to be vigilant in identifying and reporting suspicious activity involving convertible virtual currency (CVC) kiosks. While CVC kiosks can be a simple and convenient way for consumers to access CVC, they are also exploited by illicit actors, including scammers….

OCC Releases CRA Performance Evaluations for 15 National Banks and Federal Savings Associations

August 3, 2025 / Source: OCC

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of July 1, 2025, through July 31, 2025. Under the CRA, the OCC assesses an institution’s record of meeting the credit needs of its entire community, including low- and…

Treasury Secretary Bessent Remarks at the Launch of the White House Digital Assets Report

July 31, 2025 / Source: Treasury

Introduction: The Next Digital Frontier Good afternoon. I’m grateful to be with you today.  America is a frontier nation. From the Lewis and Clark Expedition to the present day, our people have always pushed boundaries—in exploration, politics, science, and technology. To be American is to be constantly moving, constantly innovating, and constantly living on the…

Treasury Sanctions Global Network Supporting Iran’s Military UAV Program

July 31, 2025 / Source: Treasury

WASHINGTON â€” Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating five entities and one individual based in Iran, Hong Kong, Taiwan, and China for their procurement of technology in support of OFAC-designated Iran Aircraft Manufacturing Industrial Company (HESA).  HESA is a state-owned subsidiary of Iran’s Ministry of Defense and…

ICYMI: Secretary Scott Turner Visits Pittsburgh to Witness Innovative Housing Solutions, Tours U.S. Steel and Faith-Based Shelter

July 31, 2025 / Source: HUD

Pittsburgh, Pa. – U.S. Housing and Urban Development (HUD) Secretary Scott Turner joined U.S. Senators David McCormick (R-PA) and John Fetterman (D-PA) in Pittsburgh with stops at U.S. Steel, Connect Bedford Dwellings, and Light of Life Rescue Mission. “Pittsburgh stands as a testament to America’s spirit of hard work and resilience—the virtues that will help solve…

Federal Reserve Board joins other federal financial institution regulatory agencies in providing banks the flexibility to use an alternative method for collecting certain customer identification information

July 31, 2025 / Source: FRB

The Federal Reserve Board on Thursday joined other federal financial institution regulatory agencies, as well as the Financial Crimes Enforcement Network, in providing banks the flexibility to use an alternative method for collecting certain customer identification information. Specifically, the agencies now permit banks and credit unions to obtain a tax identification number from a third…

Adam Cohen Named OCC Chief Counsel

July 30, 2025 / Source: OCC

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced Adam Cohen as Senior Deputy Comptroller and Chief Counsel. “Adam’s unparalleled background in banking law and regulation, together with his depth of hands-on experience working on financial services matters as a regulator, in-house general counsel, and external advisor bring tremendous value to the OCC,”…

Federal Reserve issues FOMC statement

July 30, 2025 / Source: FRB

Although swings in net exports continue to affect the data, recent indicators suggest that growth of economic activity moderated in the first half of the year. The unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2…

Treasury Takes Massive Action Against High-Profile Iranian Network

July 30, 2025 / Source: Treasury

WASHINGTON â€” Today, in its largest Iran-related action since 2018, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating more than 50 individuals and entities and identifying more than 50 vessels that are part of the vast shipping empire controlled by Mohammad Hossein Shamkhani (Hossein). Hossein—the son of Ali Shamkhani, a top political advisor to…

Treasury Department Announces New Appointments

July 30, 2025 / Source: Treasury

WASHINGTON â€” Secretary of the Treasury Scott Bessent announced today key appointments for senior positions at the U.S. Department of the Treasury. Biographies of the appointees are listed below in alphabetical order: Alley Adcock will serve as Deputy Assistant Secretary for Legislative Affairs, Appropriations and Management. She most recently served as Professional Staff Member on the House…

FHFA House Price Index® Down 0.2 Percent in May; Up 2.8 Percent from Last Year

July 29, 2025 / Source: FHFA

Washington, D.C. â€“ U.S. house prices fell 0.2 percent in May, according to the U.S. Federal Housing (FHFA) seasonally adjusted monthly House Price Index (FHFA HPI®). House prices rose 2.8 percent from May 2024 to May 2025. The previously reported 0.4 percent price decline in April was revised to a 0.3 percent decline. For the nine census divisions, seasonally adjusted…