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Remarks by Secretary of the Treasury Janet L. Yellen at Chief Lynn Malerbaâs Swearing in Ceremony as the United States Treasurer
September 12, 2022 / Source: Treasury
Good afternoon, everyone. Itâs a privilege to welcome you to the Treasury Department for todayâs historic ceremony. I want to particularly welcome the Tribal leaders and community members who are here with us today. Whether you are joining in person or virtually, thank you for being a part of todayâs event. I would like…
The FDIC updates the Application Procedures Manual (APM)-September 12, 2022.
September 12, 2022 / Source: FDIC
The APM provides direction for professional staff assigned to review and process applications, notices, and other requests submitted to the FDIC. The APM is updated periodically for changes in laws, regulations, or processes and to release additional sections. This release updates two sections of the APM: Section 1.9 â Protests/Comments Section 1.10 â Processing…
CFPB and Centers for Medicare and Medicaid Services Take Action to Protect Caregivers and Families from Illegal Nursing Home Debt Collection Practices
September 8, 2022 / Source: CFPB
New report, circular, and joint letter with CMS remind facilities and debt collectors of their responsibilities for nursing home admission and debt collection under multiple laws WASHINGTON, D.C. â Today, the Consumer Financial Protection Bureau (CFPB) released an Issue Spotlight highlighting some of the difficulties and experiences heard from caregivers about being pursued over friendsâ or family membersâ…
FDIC-Insured Institutions Reported Net Income of $64.4 Billion in Second Quarter 2022
September 8, 2022 / Source: FDIC
For Release Net Income Declined Year Over Year Net Interest Margin Widened Loan Growth Was Broad-Based Credit Quality Remained Favorable Despite Growth in Early Delinquencies Total Deposits Declined Moderately for the First Time Since Second Quarter 2018 Community Banks Reported a Moderate Decline in Net Income âThe banking industry reported generally positive results in the…
Treasury Sanctions Iranian Persons Involved in Production of Unmanned Aerial Vehicles and Weapon Shipment to Russia
September 8, 2022 / Source: Treasury
WASHINGTON â Today, the U.S. Department of the Treasuryâs Office of Foreign Assets Control (OFAC) is designating an air transportation service provider for its involvement in the shipment of Iranian Unmanned Aerial Vehicles (UAVs) to Russia for its war against Ukraine. Additionally, OFAC is designating three companies and one individual involved in the research, development,…
OCC Hosts Minority Depository Institutions Advisory Committee Meeting September 27
September 8, 2022 / Source: OCC
WASHINGTONâThe Office of the Comptroller of the Currency (OCC) today announced it will host a virtual public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Tuesday, September 27, 2022. The meeting, which will be hosted in person and virtually, is open to the public and will begin at 10:00 a.m. Eastern Daylight Time…
Prepared Remarks of FinCEN Acting Deputy Director Jimmy Kirby During the 2022 Federal Identity Forum & Exposition (FedID)
September 8, 2022 / Source: FinCEN
Prepared RemarksJimmy KirbyActing Deputy DirectorFinancial Crimes Enforcement Network 2022 Federal Identity Forum & Exposition (âFedIDâ)Atlanta, Georgia Good morning. My name is Jimmy Kirby, and Iâm the Acting Deputy Director of the Financial Crimes Enforcement Network (FinCEN). Itâs a real pleasure to address all of youâprivate sector, academia and fellow public sector attendees and speakers. Iâm…
OCC Releases CRA Evaluations for 31 National Banks and Federal Savings Associations
September 7, 2022 / Source: OCC
WASHINGTON â 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 August 1, 2022, through August 31, 2022. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received…
Remarks by Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg at The Brookings Institution
September 7, 2022 / Source: Treasury
âAnti-Corruptionâs Cutting Edge: New Directions in Beneficial Ownership Transparencyâ As prepared for delivery Good morning, and thank you to the Brookings Institution and Ambassador Eisen for the invitation, Itâs a pleasure to be here with you today to discuss our priorities and work to counter corruption. Iâm here today to continue a series of discussions…
Bringing Inflation Downďżź
September 7, 2022 / Source: FRB
Vice Chair Lael Brainard At the Clearing House and Bank Policy Institute 2022 Annual Conference, New York, New York Over the past year, inflation has been very high in the United States and around the world (figure 1). High inflation imposes costs on all households, and especially low-income households. The multiple waves of the pandemic,…
Making the Financial System Safer and Fairer
September 7, 2022 / Source: FRB
Vice Chair for Supervision Michael S. Barr At the Brookings Institution, Washington, D.C. Thank you, David, and thank you to the Brookings Institution for the invitation to speak to you today.1 On July 19, I had the honor of being sworn in as the Vice Chair for Supervision of the Board of Governors of the Federal…
OCC Releases Strategic Plan for Fiscal Years 2023-2027
September 6, 2022 / Source: OCC
WASHINGTONâThe Office of the Comptroller of the Currency (OCC) today released its strategic plan for fiscal years (FY) 2023-2027. The strategic plan outlines the agencyâs approach to achieve three strategic goals and fulfill its mission to ensure that national banks and federal savings associations operate in a safe and sound manner, provide fair access to…
Remarks by Deputy Secretary of the Treasury Wally Adeyemo at The Clearing House and Bank Policy Institute Annual Conference
September 6, 2022 / Source: Treasury
As prepared for delivery Thank you for inviting me to join you today and giving me the chance to speak with you about where the U.S. economy is headed, in light of the Administrationâs recent legislative achievements. These accomplishments build on a lesson history has taught us: that when it comes to our greatest challenges,…
FDIC Issues List of Banks Examined for CRA Compliance
September 5, 2022 / Source: FDIC
WASHINGTON â 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 June 2022. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet…
If you used U.S. Equity Advantageâs auto loan Payment Accelerator Program, a check may be on the way
September 5, 2022 / Source: CFPB
Obtaining consumer redress is a top priority in any enforcement action, and when the CFPB enforces the law, we or a court may require the person or company to compensate its victims for this harm by providing consumer redress out of its own funds. In certain circumstances, when the person or company doesnât have sufficient…
Acting Comptroller Discusses Importance of Community Banks; Announces Reduction in Assessment Fees
September 1, 2022 / Source: OCC
WASHINGTONâActing Comptroller of the Currency Michael J. Hsu today discussed the importance of community banks, and the challenges and opportunities of digitalization, in a meeting with the Texas Bankers Association in Dallas. In his remarks, the Acting Comptroller emphasized the Office of the Comptroller of the Currencyâs commitment to community banks, and highlighted initiatives to…
Beware of scammers pretending to be from the CFPB
September 1, 2022 / Source: CFPB
This week we confirmed that scammers are using CFPB employeeâs names and imagery to try and steal your money. Weâve heard from people, specifically older adults, who were defrauded thousands of dollars from scammers pretending to be with the CFPB. If someone contacts you and says youâve won a class-action lawsuit in a foreign country,…
CFPB Report Details Family Finances and Debt in Rural Appalachia
September 1, 2022 / Source: CFPB
Appalachians Face Higher Debt Burdens and Worse Credit Conditions than Most Other Parts of Rural America WASHINGTON, D.C. â The Consumer Financial Protection Bureau (CFPB) has issued the first in a series of reports focusing on the finances of consumers living in rural areas. Todayâs report focuses on rural Appalachians, who tend to earn less than…