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Speech – Innovation at the Speed of AI
October 15, 2025 / Source: FRB
Thank you for the opportunity to speak to you today about artificial intelligence (AI).1 AI is a powerful and rapidly advancing technology that has captured everyone’s attention. If you’ve watched enough sci-fi, you know that major technological change is usually either dystopian or utopianâthe robots either take over the world or improve it. These polarized views…
Statement from U.S. Secretary of the Treasury Scott Bessent for the World Bank Development Committee and IMF International Monetary and Financial Committee
October 15, 2025 / Source: Treasury
As we convene for this yearâs Annual Meetings, the United States looks forward to working closely with partners around the world to confront todayâs global economic challenges and secure a future underpinned by growth and stability. Achieving success will require collaboration with international financial institutions that are highly effective, efficient, and accountable in implementing their…
U.S. Federal Housing Requests Input on New Strategic Plan
October 15, 2025 / Source: FHFA
Washington, D.C. â Consistent with its statutory requirements and President Trumpâs executive orders, U.S. Federal Housing is asking the public for feedback on its proposed Strategic Plan for FY 2026â2030. The new Plan proposes three strategic goals for the Agency: Input on the Plan is due by November 5, 2025, and should be submitted via the…
FinCEN Issues Final Rule Severing Huione Group from the U.S. Financial System
October 14, 2025 / Source: FinCEN
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule that severs Cambodia-based Huione Group from the U.S. financial system. Huione Group serves as a critical node for laundering proceeds of cyber heists carried out by the Democratic Peopleâs Republic of Korea and for transnational criminal organizations in Southeast…
Speech – Understanding the Fedâs Balance Sheet
October 14, 2025 / Source: FRB
Thank you, Emily. And thank you to the National Association for Business Economics for the Adam Smith Award. It is an honor just to be mentioned alongside past recipients, including my predecessors Janet Yellen and Ben Bernanke. Thank you for this recognition and for the opportunity to speak with you today. Monetary policy is more…
Comptroller Issues Statement on Federal Reserve Boardâs Action to Provide Clarity on Capital Instruments for Mutual Banking Organizations
October 13, 2025 / Source: OCC
WASHINGTONâComptroller of the Currency Jonathan V. Gould issued the following statement today following the Federal Reserve Boardâs release of guidance to provide clarity on capital instruments for mutual banking organizations: The OCC commends the Federal Reserve Board for its recent action to support mutual banking organizations by providing clarification regarding mutual capital certificates and alternative…
Frequently Asked Questions Regarding Suspicious Activity Reporting Requirements
October 13, 2025 / Source: FDIC
Summary: The Financial Crimes Enforcement Network (FinCEN), jointly with the Board of Governors of the Federal Reserve System (Federal Reserve), 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) is issuing answers to frequently asked questions (FAQs)…
FinCEN Issues Frequently Asked Questions to Clarify Suspicious Activity Reporting Requirements
October 9, 2025 / Source: FinCEN
WASHINGTON âToday, the U.S. Department of the Treasuryâs Financial Crimes Enforcement Network (FinCEN) issued answers to four Frequently Asked Questions (FAQs) to clarify certain requirements related to suspicious activity reports (SARs). By issuing these FAQs, FinCEN is ensuring financial institutions are not needlessly expending resources on efforts that do not provide law enforcement and national security agencies with…
Community Banking: Looking Toward the Future
October 9, 2025 / Source: FRB
As we wrap up today’s conference, I would like to thank all of the moderators and presenters on today’s panels. And of course, Secretary Bessent for sharing his perspectives on community banks, and the many community bankers, and state bank regulators and others who attended today’s event in person or virtually. I would also like…
Treasury Takes Aim at Iran-Backed Militia Groups Threatening the Safety of Americans
October 9, 2025 / Source: Treasury
WASHINGTON â Today, the U.S. Department of the Treasuryâs Office of Foreign Assets Control (OFAC) is taking action against individuals and companies that assist the Iranian regime in evading U.S. sanctions, smuggling weapons, and engaging in widespread corruption in Iraq. The Iranian regime relies on various Iraqi militia proxies, including U.S.-sanctioned foreign terrorist organization Kataâib Hizballah,…
Speech – Community Banking: The Cornerstone of Building Communities
October 8, 2025 / Source: FRB
Thank you for the invitation to speak to you today.1 I value the opportunity to spend time with community bankers and fellow federal and state bank regulators. This conference, now in its 13th year, is always a great forum for those interactions. All of us benefit from the research presented here, which helps us understand the…
Net Interest Margins Bump Reg Burden as Top Community Bank Concern
October 7, 2025 / Source: CSBS
Washington, D.C. â Community bankers report net interest margins have overtaken regulatory burden as their top external risk in the 2025 CSBS Annual Survey of Community Banks. Now in its twelfth year, the annual survey gauges internal and external risks, competition, safety and soundness, and deposit insurance policy. This year, community bankers expressed that their internal concerns…
Agencies Issue Proposal to Prohibit Use of Reputation Risk by Regulators
October 7, 2025 / Source: FDIC
WASHINGTON â The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (the agencies) today issued a joint notice of proposed rulemaking that would codify the elimination of reputation risk from their supervisory programs. The proposed rule would define âreputation riskâ and prohibit the agencies from criticizing or taking adverse action…
Agencies Issue Proposal to Focus Supervision on Material Financial Risks
October 7, 2025 / Source: FDIC
WASHINGTON â The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (the agencies) today issued a joint notice of proposed rulemaking that would continue their effort to focus supervision on material financial risks. Among other things, the proposal would define the term âunsafe or unsound practiceâ for purposes of section 8…
Comptroller Issues Statement on Areas of Focus as FDIC Board Member
October 7, 2025 / Source: OCC
WASHINGTONâComptroller of the Currency Jonathan V. Gould issued the following statement today at the Federal Deposit Insurance Corporationâs (FDIC) board meeting about his areas of focus in his capacity as an FDIC board member: Thank you for the warm welcome to the FDIC board. I am very excited to work with Acting FDIC Chairman Hill…
Defining âUnsafe or Unsound Practiceâ and Revising the Framework for Issuing Matters Requiring Attention and Other Supervisory Communications:Â Interagency Notice of Proposed Rulemaking
October 7, 2025 / Source: OCC
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) are proposing to issue a joint notice of proposed rulemaking that would define the term âunsafe or unsound practiceâ for purposes of section 8 of the Federal Deposit Insurance Act (12 USC 1818) and revise the…
OCC Announces Actions to Reduce Regulatory Burden for Community Banks
October 6, 2025 / Source: OCC
WASHINGTONâThe Office of the Comptroller of the Currency (OCC) today announced guidance to banks and proposed rulemakings to reduce regulatory burden for community banks. These actions build upon the OCCâs continued efforts to tailor its regulatory and supervisory frameworks to minimize burden for its regulated institutions and promote economic growth. âCommunity banks have an outsized…
Treasury Sanctions Illicit Fentanyl Supply Network Supporting the Sinaloa Cartel
October 6, 2025 / Source: Treasury
WASHINGTON â Today, the U.S. Department of the Treasuryâs Office of Foreign Assets Control (OFAC) sanctioned eight Mexican individuals and 12 Mexico-based companies affiliated with the Sinaloa Cartelâs Los Chapitos faction. This network supplies illicit fentanyl precursor chemicals to the Sinaloa Cartel, a terrorist organization responsible for a significant portion of the deadly drugs trafficked into the…
FDIC Issues List of Banks Examined for CRA Compliance
October 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 July 2025. The CRA is a 1977 law that requires the FDIC to assess a bankâs record of…
Community Banker Optimism Reaches New High
October 5, 2025 / Source: CSBS
Washington, D.C. â Community banker sentiment reached a peak in the third quarter results of the Conference of State Bank Supervisors (CSBS) Community Banking Sentiment Index (CBSI). The latest CBSI gained seven points from last quarter to 133 points, a record high since the surveyâs inception in 2019. The monetary policy indicator also reached an all-time high,…
Speech – Economic Outlook and the Fedâs Monetary Policy Framework
October 5, 2025 / Source: FRB
Thank you, Dean Madan. I appreciate the opportunity to speak here at Drexel University and to visit Philadelphia, an area where I have spent much of my personal and professional life.1 I will not go on too much about the City of Brotherly Love other than to say I am considering jogging up the steps of…
Small Business Lending Under the Equal Credit Opportunity Act (Regulation B); Extension of Compliance Dates
October 2, 2025 / Source: CFPB
AGENCY: Consumer Financial Protection Bureau. ACTION: Final rule. SUMMARY: The Consumer Financial Protection Bureau (CFPB or Bureau) is finalizing its June 18, 2025 interim final rule amending Regulation B to extend the compliance dates set forth in its 2023 small business lending rule, as amended by a 2024 interim final rule, and to make other…
Agencies Issue Reminder to Institutions on Lending When the National Flood Insurance Program Is Unavailable
October 1, 2025 / Source: FDIC
Federal financial institution regulatory agencies today remind lenders that they may continue to make loans that are subject to the federal flood insurance statutes when the National Flood Insurance Program is not available. During this period, lenders are allowed to make these loans without requiring federal flood insurance. As explained in the Interagency Questions and Answers…
Treasury Targets Iranian Weapons Procurement Networks Supporting Ballistic Missile and Military Aircraft Programs
October 1, 2025 / Source: Treasury
WASHINGTON â Today, the U.S. Department of the Treasuryâs Office of Foreign Assets Control (OFAC) is designating 21 entities and 17 individuals involved in networks that facilitate the acquisition of sensitive goods and technology for Iranâs Ministry of Defense and Armed Forces Logistics (MODAFL), as well as its missile and military aircraft production efforts. These networks…
OCC Releases CRA Performance Evaluations for Six National Banks and Federal Savings Associations
October 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 September 1, 2025, through September 30, 2025. Under the CRA, the OCC assesses an institutionâs record of meeting the credit needs of its entire community, including low- and…