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FTC Sends More Than $2.9 Million to Consumers Harmed by Home Improvement Financing Firm
July 8, 2025 / Source: Federal Trade Commission
The Federal Trade Commission is sending more than $2.9 million in payments to consumers harmed by Ygrene Energy Fund, a home-improvement financing company that made false claims about the potential financial impact of its services. According to the FTCâs October 2022 complaint, Ygrene and its network of door-to-door home-improvement contractors deceptively sold Ygreneâs home-improvement financing program by…
HUD Provides Foreclosure Relief to Texans Impacted by Floods
July 8, 2025 / Source: US Department of Housing and Urban Development
Action from Secretary Turner provides immediate relief for more than 900 Federal Housing Administration (FHA) single family mortgages in impacted areas WASHINGTON â U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced a 90-day foreclosure moratorium on Federal Housing Administration (FHA)-insured single-family mortgages in the areas of Kerr County, Texas, devastated by continuing…
Final Three Members Charged in Prolific Chinese Money Laundering Scheme Plead Guilty to Laundering Tens of Millions in Drug Proceeds
July 7, 2025 / Source: US Department of Justice
Two Chinese nationals and a New York woman, all members of a prolific Chinese money laundering organization (CMLO), pleaded guilty today to money laundering charges involving drug trafficking proceeds. They are the last of six total defendants charged in the indictment to plead guilty. According to court documents, Enhua Fang, 38, and Jianfei Lu, 30,…
FFIEC Publishes 2024 Data on Mortgage Lending
July 7, 2025 / Source: Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council (FFIEC) recently published data on 2024 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,908 U.S. financial institutions. The Snapshot National Loan-Level Dataset released contains the national HMDA datasets as of May 19, 2025. The FFIEC released several data products to serve a variety of data users,…
OCC Allows National Banks and Federal Savings Associations in Texas Affected by Flooding to Close
July 7, 2025 / Source: Office of the Comptroller of the Currency
WASHINGTONâThe Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of Texas affected by flooding. In issuing the proclamation, the OCC expects that only those bank offices directly affected by potentially unsafe conditions…
FDIC Issues 2025 Consumer Compliance Supervisory Highlights
July 6, 2025 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued the 2025 edition of the Consumer Compliance Supervisory Highlights. The purpose of this publication is to enhance transparency regarding the FDICâs consumer compliance supervisory activities and to provide a high-level overview of consumer compliance issues identified in 2024 through the FDICâs supervision of state non-member banks…
FDIC Issues List of Banks Examined for CRA Compliance
July 6, 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 April 2025. The CRA is a 1977 law that requires the FDIC to assess a bankâs record…
Treasury Sanctions Hizballah Financial Officials
July 6, 2025 / Source: Treasury
WASHINGTON âToday, the Department of the Treasuryâs Office of Foreign Assets Control (OFAC) is sanctioning seven senior officials and one entity associated with the Hizballah-controlled financial institution Al-Qard Al-Hassan (AQAH), which was designated by OFAC in 2007. These officials have served in senior management roles for AQAH and have facilitated the evasion of U.S. sanctions, enabling Hizballahâs…
Treasury Targets Diverse Networks Facilitating Iranian Oil Trade
July 6, 2025 / Source: Treasury
WASHINGTON â Today, the U.S. Department of the Treasuryâs Office of Foreign Assets Control (OFAC) is taking action against networks that have collectively transported and purchased billions of dollarsâ worth of Iranian oil, some of which has benefited Iranâs Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), a designated Foreign Terrorist Organization. Among the entities sanctioned today is a network…
Acting Comptroller of the Currency Discusses Importance of Homeownership
July 2, 2025 / Source: OCC
WASHINGTONâActing Comptroller of the Currency Rodney E. Hood discussed homeownership as a pathway to financial inclusion and generational wealth in remarks at the Detroit REACh Homebuyers Fair, held in recognition of National Homeownership Month on June 28. In his remarks, Acting Comptroller Hood discussed the Office of the Comptroller of the Currencyâs work to expand…
Bank Compliance Leader Award Winners for 2025 Announced
July 2, 2025 / Source: Compliance Alliance
Bank Compliance Leader Award Winners for 2025 Announced FOR IMMEDIATE RELEASE: July 3rd, 2025 Contact: Brittney Stacey [email protected] Compliance Alliance has announced the names of the four regional winners of this yearâs Bank Compliance Leader Award. They are in order of appearance: Gayle Brooke, Independent Bank, MI Eastern Region Buffy Dyess Guaranty Bank & Trust,…
No FEAR Act Annual Report for fiscal year 2024
July 1, 2025 / Source: CFPB
The CFPB presents its Notification and Federal Employee Antidiscrimination and Retaliation Act of 2002 (No FEAR Act) Annual Report of Fiscal Year (FY) 2024. This report summarizes the CFPBâs EEO complaint activity, the most significant accomplishments in our EEO program, our strong commitment to abide by civil rights and whistleblower protection laws and merit systems…
Treasury Sanctions Global Bulletproof Hosting Service Enabling Cybercriminals and Technology Theft
July 1, 2025 / Source: Treasury
WASHINGTON â Today, the U.S. Department of the Treasuryâs Office of Foreign Assets Control (OFAC) is designating Aeza Group, a bulletproof hosting (BPH) services provider, for its role in supporting cybercriminal activity targeting victims in the United States and around the world. BPH service providers sell access to specialized servers and other computer infrastructure designed to help…
Joint Statement on the EU-U.S. Joint Financial Regulatory Forum
July 1, 2025 / Source: Treasury
Brussels â The EU-U.S. Joint Financial Regulatory Forum took place on 24-25 June 2025, with participants exchanging views on topics of mutual interest as part of their regular financial regulatory dialogue. The dialogue was co-chaired by the European Commission and the U.S. Department of the Treasury. EU participants included representatives of the European Commission, European Central…
OCC Releases CRA Performance Evaluations for 22 National Banks and Federal Savings Associations
July 1, 2025 / Source: OCC
WASHINGTONâThe 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 June 1, 2025, through June 30, 2025. Under the CRA, the OCC assesses an institutionâs record of meeting the credit needs of its entire community, including low- and…
OCC Report Highlights Key Risks in Federal Banking System
June 30, 2025 / Source: OCC
WASHINGTONâThe Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system in its Semiannual Risk Perspective for Spring 2025. The OCC reported that the strength of the federal banking system remains sound. Consumer sentiment, geopolitical risk, sustained higher interest rates, and downward movement in some macroeconomic indicators have increased…
Federal Reserve Board’s annual bank stress test showed that large banks are well positioned to weather a severe recession, while staying above minimum capital requirements and continuing to lend to households and businesses
June 30, 2025 / Source: FRB
The results of the Federal Reserve Board’s annual bank stress test showed that large banks are well positioned to weather a severe recession, while staying above minimum capital requirements and continuing to lend to households and businesses. Under this year’s hypothetical recession, the aggregate decline in the common equity tier 1 (CET1) capital ratio, which…
HUD and Census Bureau Report New Residential Sales in May 2025
June 30, 2025 / Source: HUD
WASHINGTON (JUNE 30, 2025) – The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for May 2025: New Home SalesSales of new single-family houses in May 2025 were at a seasonally-adjusted annual rate of 623,000, according to estimates released jointly today by the U.S….
HUD Slashes Red Tape to Cut Homeownership Financing Costs
June 29, 2025 / Source: HUD
WASHINGTON â U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the Federal Housing Administration (FHA) is rescinding more than 12 sub-regulatory policies under its Single Family mortgage insurance program. These sweeping changes cut red tape, help reduce the cost of homeownership, and eliminate financial and regulatory burdens. The rescissions span the loan…
Customer Identification Program Rule Exemption from Collecting Taxpayer Identification Number Information from Customers
June 29, 2025 / Source: FDIC
Summary: The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (each an âagencyâ and collectively the âagenciesâ), with the concurrence of the Financial Crimes Enforcement Network (FinCEN), grant an exemption from the requirements of the Customer Identification Program (CIP) Rule for the collection of taxpayer identification…
Notice of Proposed Rulemaking:Â Modifications to the Enhanced Supplementary Leverage Ratio Standards for U.S. Global Systemically Important Bank Holding Companies and Their Subsidiary Depository Institutions
June 29, 2025 / Source: OCC
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) are requesting comment on a proposal to modify the enhanced supplementary leverage ratio standards, which apply to the largest and most systemically important banking organizations in the United…
Acting Comptroller of the Currency Issues Statement on Order Granting Exemption to Customer Identification Program
June 29, 2025 / Source: OCC
WASHINGTONâActing Comptroller of the Currency Rodney E. Hood issued the following statement today in support of the Order granting an exemption to the Customer Identification Program (CIP) rule to benefit both consumers and the banking industry. I support the Order granting an exemption to the Customer Identification Program, or CIP rule, allowing banks to utilize…
Treasury Launches New FinCEN Exchange Series to Combat Narcotics and Drug Trafficking Organizations, Visits El Paso Port of Entry
June 29, 2025 / Source: FinCEN
EL PASOâThis week, as part of its public-private information sharing Exchange program, the U.S. Department of the Treasuryâs Financial Crimes Enforcement Network (FinCEN) launched a new series entitled âCombating and Obstructing Money Movements Associated with Narcotics and Drug Trafficking Organizationsâ (COMMAND). COMMAND mobilizes community and regional financial institutions as frontline partners in the fight against…
Federal Reserve Board publishes agenda for its conference on July 22 on large bank capital requirements
June 26, 2025 / Source: FRB
The Federal Reserve Board on Thursday published the agenda for its conference on July 22 on large bank capital requirements. The conference will bring together a range of perspectives, including academics, practitioners, and market participants to discuss the key pillars of the regulatory capital framework. “The conference will allow for expert discussions on whether capital…
Speech – Community Development at the Federal Reserve
June 26, 2025 / Source: FRB
Thank you, Eric, thank you to the conference organizers for asking me to speak today, and thank you, especially, to the practitioners here for the work you do in building stronger communities.1 Your mission has also been at the center of my career in many different roles as an academic, a practitioner, and a public official,…