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Comptroller Issues Statement on Enactment of GENIUS Act
July 20, 2025 / Source: OCC
WASHINGTON—Comptroller of the Currency Jonathan V. Gould today issued the following statement on the enactment of the GENIUS Act. The enactment of the GENIUS Act is a monumental and historic accomplishment that will transform the financial services industry. The OCC is prepared to work swiftly to implement this landmark legislation that expands the authority of…
Treasury Sanctions Top Leaders of Tren de Aragua
July 17, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Hector Rusthenford Guerrero Flores (a.k.a. “Niño Guerrero”)—the head of Tren de Aragua—and five other key Tren de Aragua leaders and affiliates. Tren de Aragua is a Foreign Terrorist Organization (FTO) that originated in Venezuela and continues to expand. Niño Guerrero has grown Tren de Aragua…
Speech – AI: A Fed Policymaker’s View
July 17, 2025 / Source: FRB
Thank you, Avi. It is an honor to be back with you at the NBER Summer Institute. Thanks to you, Erik, and Catherine for organizing these insightful and thought-provoking sessions this summer.1 Artificial intelligence (AI) is advancing across the globe and permeating every corner of the economy at an incredibly rapid rate. This has significant…
Stablecoin Framework Must be Sustainable
July 17, 2025 / Source: CSBS
Washington, D.C. – Conference of State Bank Supervisors (CSBS) President and CEO Brandon Milhorn Statement on House Passage of the GENIUS Act: “A national regulatory framework for stablecoins is a vital precondition for a broader, innovative digital asset ecosystem in the United States. The GENIUS Act is a historic, bipartisan effort to accomplish this goal. We…
Agencies Issue Joint Proposal to Rescind 2023 Community Reinvestment Act Final Rule
July 16, 2025 / Source: FDIC
Federal bank regulatory agencies today jointly issued a proposal to rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and replace it with the prior CRA regulations that were originally adopted by the agencies in 1995, with certain technical amendments. If adopted, the proposal would restore certainty in the CRA framework for stakeholders in…
Speech – Booms and Busts and the Regulatory Cycle
July 16, 2025 / Source: FRB
Thank you for the opportunity to speak to you today.1 I am here to discuss one of the most important resources that policymakers have: the lessons of history. In discharging my responsibilities at the Federal Reserve, I have been thinking a lot about history. Its study provides the opportunity to step out of the particular circumstances…
Notice of Proposed Rulemaking on Establishment and Relocation of Branches and Offices
July 15, 2025 / Source: FDIC
Summary: The Federal Deposit Insurance Corporation (FDIC) is inviting public comment on a notice of proposed rulemaking (proposal) (PDF) to amend the FDIC Rules and Regulations governing the processes for an insured State nonmember bank to establish a branch or relocate a main office or branch. The proposal would also make corresponding changes to the processes applicable…
Proposed Amendments to FDIC Guidelines for Appeals of Material Supervisory Determinations
July 15, 2025 / Source: FDIC
Summary: The FDIC is soliciting comment on a proposal to amend the agency’s Guidelines for Appeals of Material Supervisory Determinations (Guidelines). The proposal would replace the current Supervision Appeals Review Committee (SARC) with an independent, standalone office within the FDIC, known as the Office of Supervisory Appeals (Office). The Office would serve as the final level of…
Notice of Proposed Rulemaking on Adjusting and Indexing Certain Regulatory Thresholds
July 15, 2025 / Source: FDIC
Summary: The Federal Deposit Insurance Corporate (FDIC) is inviting comment on a proposed rule that would amend certain regulatory thresholds in the FDIC’s regulations to reflect inflation, including those related to annual independent audit and reporting requirements. Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-insured financial institutions. The…
Request for Information (RFI) on Industrial Banks and Industrial Loan Companies and Their Parent Companies
July 15, 2025 / Source: FDIC
Summary: The Federal Deposit Insurance Corporation (FDIC) is soliciting comments from interested parties on the FDIC’s approach to evaluating the statutory factors applicable to certain filings submitted by industrial banks and industrial loan companies (collectively, industrial banks). Statement of Applicability: Industrial bank and proposed industrial bank applicants. Highlights: FIL-33-2025Attachment(s) Request for Information (RFI) on Industrial Banks…
Jonathan V. Gould Takes Office as the 32nd Comptroller of the Currency
July 15, 2025 / Source: OCC
WASHINGTON—Jonathan V. Gould today became the 32nd Comptroller of the Currency, after being sworn into the office by Dr. Michael Faulkender, Deputy Secretary of the U.S. Treasury. President Donald J. Trump nominated Mr. Gould on February 11, 2025, and the U.S. Senate confirmed him on July 10, 2025. Mr. Gould takes over from Rodney E….
Speech – Expanding Financial Inclusion
July 15, 2025 / Source: FRB
Thank you, Eric; thank you to the Fed staff who have organized this second annual financial inclusion conference; and thank you all for being here.1 I have long believed that financial inclusion is a crucial component of a safe and fair financial system. Working to improve financial inclusion has been an important part of my…
Agencies Issue Joint Statement on Risk-Management Considerations for Crypto-Asset Safekeeping
July 14, 2025 / Source: FDIC
Federal bank regulatory agencies today issued a joint statement in their continued efforts to provide clarity on banks’ engagement in crypto-asset-related activities. The statement highlights for banks potential risk-management considerations related to holding crypto-assets on their customers’ behalf, or crypto-asset safekeeping. The joint statement discusses existing risk-management principles that apply to crypto-asset safekeeping and reminds banks…
OCC Advances Key Priorities Under Acting Comptroller Rodney E. Hood
July 14, 2025 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood’s five-month tenure at the Office of the Comptroller of the Currency (OCC) was marked by measurable progress in strengthening the federal banking system, reducing regulatory burden, promoting financial inclusion, expanding bank activities involving digital assets and embracing bank-fintech partnerships. “Serving as the Acting Comptroller of the Currency…
CFPB Reaches Settlement for Military Lending Act Violations
July 14, 2025 / Source: Consumer Financial Protection Bureau
Washington, D.C. – Today, in the Consumer Financial Protection Bureau’s (CFPB) November 12, 2021 lawsuit against FirstCash, Inc., and nineteen subsidiaries alleging violations of the Military Lending Act (MLA), the parties reached a settlement and jointly filed a stipulated final judgment and proposed order, which if entered by the court, would resolve the lawsuit. The MLA…
Revisions to the Consolidated Reports of Condition & Income (Call Reports) & the FFIEC 002 Report
July 14, 2025 / Source: Federal Deposit Insurance Corporation
Call Reports and Other FFIEC Related Forms and Reports July 11, 2025 Share on Facebook Share on X Follow the FDIC on LinkedIn Share through email Print On July 11, 2025, the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency…
Supervisory Relief to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Severe Storms, Straight-line Winds, and Flooding
July 14, 2025 / Source: Federal Deposit Insurance Corporation
Disaster Relief July 11, 2025 Share on Facebook Share on X Follow the FDIC on LinkedIn Share through email Print Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Texas affected by severe storms, straight-line winds, and flooding. Please review the FDIC’s…
SEC Charges Georgia-based Lender and its Owner for Operating a $140 Million Ponzi Scheme
July 14, 2025 / Source: US Securities and Exchange Comission
Washington D.C., July 10, 2025 — The Securities and Exchange Commission today announced that it filed charges seeking an asset freeze and other emergency relief against Newnan, Georgia-based First Liberty Building & Loan, LLC and its founder and owner Edwin Brant Frost IV in connection with a Ponzi scheme that defrauded approximately 300 investors of…
Terrorist Financing Targeting Center Designates ISIS Facilitators in Africa
July 14, 2025 / Source: Treasury
WASHINGTON – Today, the Terrorist Financing Targeting Center (TFTC) announced joint designations of three ISIS facilitators in Africa. The individuals being designated have served as key ISIS financiers and operatives, facilitating the activities of the terrorist group and its leaders operating across the Democratic Republic of the Congo (DRC), Somalia, and South Africa. This is the…
Mortgage Rates Tick Up
July 10, 2025 / Source: FreddieMac
MCLEAN, Va., July 10, 2025 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.72%. “After declining for five consecutive weeks, the 30-year fixed-rate mortgage moved slightly higher following a stronger than expected jobs report,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite…
HUD, OMB Streamline Home Appraisal Process, Effectively Disband Woke Biden-Era Task Force
July 10, 2025 / Source: US Department of Housing and Urban Development
Termination of DEI PAVE task force policies will improve efficiency, reduce regulatory burden, and expand access to homeownership WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner and Acting Administrator of the Office of Information and Regulatory Affairs (OIRA) at the Office of Management and Budget (OMB) Jeffrey Clark announced the termination…
HUD Launches “Express Lane” to Expedite Financing for Residential Care Facilities
July 10, 2025 / Source: US Department of Housing and Urban Development
FHA cuts processing times from five months to two weeks for eligible low-risk transactions WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the launch of a new “Express Lane” to expedite Federal Housing Administration (FHA) insured refinancing applications under the FHA Section 232/223(f) Mortgage Insurance for Residential Care Facilities program….
Proposed Revisions to the Consolidated Reports of Condition and Income (Call Reports)
July 10, 2025 / Source: Federal Deposit Insurance Corporation
Call Reports and Other FFIEC Related Forms and Reports July 10, 2025 Share on Facebook Share on X Follow the FDIC on LinkedIn Share through email Print Summary: On July 10, 2025, the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (Board), and the Office of the Comptroller of…
Federal Reserve Board requests comment on targeted proposal to revise its supervisory rating framework for large bank holding companies to address the “well managed” status of these firms
July 10, 2025 / Source: Board of Governors of the Federal Reserve System
The Federal Reserve Board on Thursday requested comment on a targeted proposal to revise its supervisory rating framework for large bank holding companies to address the “well managed” status of these firms. The revisions would better align the supervisory rating framework with and more accurately reflect the strength of bank holding companies and the banking…
Demystifying the Federal Reserve’s Balance Sheet
July 10, 2025 / Source: Board of Governors of the Federal Reserve System
Thank you, Lorie. Let me start by expressing my deepest condolences to the families and loved ones of those harmed by the flooding in the Hill Country. I cannot imagine the pain and anguish they are feeling. My prayers go out to all those affected. Turning to my remarks for today, thank you also for…