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FCC Proposes Closing the Non-IP Network Loophole Exploited by Robocallers to Scam Consumers
April 28, 2025 / Source: FCC
Calls Passing Through Older Networks Should Maintain Their Digital Fingerprints– WASHINGTON, April 28, 2025—The Federal Communications Commission today sought to close a gap that has allowed far too many robocalls to bypass caller ID authentication tools that protect consumers. The STIR/SHAKEN caller ID authentication framework is a critical element – long championed by the Commission…
FDIC Hosts Empowering Communities Through Financial and Stabilization Resources
April 27, 2025 / Source: Federal Deposit Insurance Corporation
Event Date April 29, 2025, 1 – 2:30pm CDT (2 – 3:30pm EDT) Location Webinar, Webex The Federal Deposit Insurance Corporation (FDIC) will host an event to convene financial institutions, community development financial institutions (CDFIs), and community stakeholders to review community led financial empowerment initiatives including the Dakota County Financial Empowerment Program, America Saves, and FDIC resources. This…
Existing-Home Sales Receded 5.9% in March
April 24, 2025 / Source: National Association of Realtors
Key Highlights WASHINGTON (April 24, 2025) – Existing-home sales descended in March, according to the National Association of REALTORS®. Sales slid in all four major U.S. regions. Year-over-year, sales dropped in the Midwest and South, increased in the West and were unchanged in the Northeast. Total existing-home sales1 – completed transactions that include single-family homes, townhomes, condominiums…
Mortgage Rates Decrease
April 24, 2025 / Source: Freddie Mac
MCLEAN, Va., April 24, 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 6.81%. “The average mortgage rate decreased slightly this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the last couple of months, the 30-year fixed-rate mortgage has fluctuated less…
Federal Reserve Board announces the withdrawal of guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities
April 24, 2025 / Source: Board of Governors of the Federal Reserve System
The Federal Reserve Board on Thursday announced the withdrawal of guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities. These actions ensure the Board’s expectations remain aligned with evolving risks and further support innovation in the banking system. The Board is rescinding its 2022 supervisory…
16 CFR Part 312: COPPA – Final Rule Amendments
April 23, 2025 / Source: Federal Trade Commission
The Federal Trade Commission amends the Children’s Online Privacy Protection Rule (the “Rule”), consistent with the requirements of the Children’s Online Privacy Protection Act. The amendments to the Rule, which are based on the FTC’s review of public comments and its enforcement experience, include one new definition and modifications to several others, as well as…
Agency Information Collection Activities; Proposed Renewal; Comment Request; Renewal Without Change of Additional Records To Be Made and Retained by Casinos
April 23, 2025 / Source: U.S. Treasury Financial Crimes Enforcement Network
As part of its continuing effort to reduce paperwork and respondent burden, FinCEN invites comments on the proposed renewal, without change, of certain existing information collection requirements found in Bank Secrecy Act (BSA) regulations applicable to casinos and card clubs. Under these regulations, among other requirements, casinos and card clubs (collectively, casinos) must secure and…
Speech: Welcoming Remarks by Governor Christopher J. Waller
April 23, 2025 / Source: Board of Governors of the Federal Reserve System
Thank you, Alberto, it is great to be back in St. Louis. And thank you to everyone here for this great turnout, which is itself a big part of what we are trying to accomplish today.1 Fed Listens is about hearing from the public on the Federal Reserve’s approach to monetary policy, and that begins with…
Treasury Targets Iranian Liquified Petroleum Gas Magnate
April 22, 2025 / Source: U.S. Department of the Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating Iranian national and liquified petroleum gas (LPG) magnate Seyed Asadoollah Emamjomeh and his corporate network, which is collectively responsible for shipping hundreds of millions of dollars’ worth of Iranian LPG and crude oil to foreign markets. Emamjomeh’s expansive network includes a…
Up to $5 Million Reward Offered for Capture of Archaga Carías, a Top 10 Most Wanted Fugitive and Leader of Foreign Terrorist Organization MS-13
April 21, 2025 / Source: U.S. Department of Justice
U.S. Foreign Terrorist Organization MS-13 leader Yulan Andony Archaga Carías, also known as “Alexander Mendoza” and “Porky,” 43, is the highest-ranking member of MS-13, a U.S.-designated Foreign Terrorist Organization (FTO), in Honduras and was previously charged in 2021 in a superseding indictment in the Southern District of New York with racketeering, narcotics trafficking, and firearms offenses. Archaga…
FDIC Modifies Approach to Resolution Planning for Large Banks
April 21, 2025 / Source: Federal Deposit Insurance Corporation
April 18, 2025 The FDIC today took action to modify its approach to insured depository institution (IDI) resolution planning. The purpose of this action is to focus the IDI resolution planning process on the operational information most relevant for the FDIC to (1) resolve a large bank through a weekend sale or (2) operate the…
Mortgage Rates Remain Under Seven Percent
April 17, 2025 / Source: Freddie Mac
MCLEAN, Va., April 17, 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 6.83%. “The 30-year fixed-rate mortgage ticked up but remains below the 7% threshold for the thirteenth consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “At this time last year,…
Iranian National Indicted for Operating Online Marketplace Offering Fentanyl and Money Laundering Services
April 17, 2025 / Source: U.S. Department of Justice
Nemesis Market Processed Over 400,000 Orders A federal grand jury has charged Behrouz Parsarad, an Iranian national, for his role as the founder and operator of Nemesis Market, a dark web marketplace for illegal drugs and criminal cyber-services, such as stolen financial information, fraudulent identification documents, counterfeit currencies, and computer malware. According to the indictment,…
Deepfakes and the AI Arms Race in Bank Cybersecurity
April 17, 2025 / Source: Board of Governors of the Federal Reserve System
Thank you for the opportunity to speak to you today about artificial intelligence (AI) and cybersecurity.1 In the past, a skilled forger could pass a bad check by replicating a person’s signature. Now, advances in AI can do much more damage by replicating a person’s entire identity. This technology—known as deepfakes—has the potential to supercharge identity…
Federal Reserve Board requests comment on a proposal to reduce the volatility of the capital requirements stemming from the Board’s annual stress test results
April 17, 2025 / Source: Board of Governors of the Federal Reserve System
The Federal Reserve Board on Thursday requested comment on a proposal to reduce the volatility of the capital requirements stemming from the Board’s annual stress test results. The proposal is the first of several actions following the Board’s announcement in December committing to broad stress test changes. In recent years, the framework of administrative law has changed…
Treasury Targets International Bank of Yemen for Support to the Houthis
April 17, 2025 / Source: U.S. Department of the Treasury
April 17, 2025 WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning Yemen-based International Bank of Yemen Y.S.C. (IBY) for its financial support to Ansarallah, commonly known as the Houthis, which is part of the Iran threat network. As part of this designation, OFAC is also sanctioning key leaders or…
SEC’s Anti-Fraud Public Service Campaign Warns Investors About Relationship Investment Scams
April 16, 2025 / Source: U.S. Securities and Exchange Commission
For Immediate Release 2025-63 Washington D.C., April 16, 2025 — The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) today unveiled its anti-fraud public service campaign, which warns investors about the devastating impact relationship investment scams can have on their financial future. Relationship investment scams typically involve a “long con” in which…
New FTC Data Show Top Text Message Scams of 2024; Overall Losses to Text Scams Hit $470 Million
April 16, 2025 / Source: Federal Trade Commission
Fake package delivery issues and phony job opportunities were most frequently reported April 16, 2025 Tags: New data from the Federal Trade Commission show that in 2024, consumers reported losing $470 million to scams that started with text messages. This amount is five times higher than what was reported in 2020, even though the number…
OCC Announces Changes to Organizational Structure
April 16, 2025 / Source: Office of the Comptroller of the Currency
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced changes to its organizational structure to ensure its approach to supervision evolves to better address today’s challenges, align similar functions within the agency, and leverage opportunities for efficiencies. The OCC will combine the Midsize and Community Bank Supervision and Large Bank Supervision functions to…
Acting Comptroller of the Currency Discusses Agency Priorities
April 16, 2025 / Source: Office of the Comptroller of the Currency
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood today discussed strategic areas of focus for the Office of the Comptroller of the Currency (OCC) in remarks at the Exchequer Club. In his remarks, Acting Comptroller Hood detailed the OCC’s efforts to reduce regulatory burden; promote financial inclusion; embrace bank-fintech partnerships; and expand responsible bank activities…
Economic Outlook: Chair Jerome H. Powell
April 16, 2025 / Source: Board of Governors of the Federal Reserve System
At the Economic Club of Chicago, Chicago, Illinois Thank you for the introduction. I am looking forward to our conversation, Professor Rajan. First, I will briefly discuss the outlook for the economy and monetary policy. At the Fed, we are always focused on the dual-mandate goals given to us by Congress: maximum employment and stable…
Treasury Increases Pressure on Chinese Importers of Iranian Oil
April 16, 2025 / Source: U.S. Department of the Treasury
April 16, 2025 WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating a China-based independent “teapot” refinery Shandong Shengxing Chemical Co., Ltd. for its role in purchasing more than a billion dollars’ worth of Iranian crude oil, including from a front company for Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF)….
Department of the Treasury: removing regulations that are no longer necessary or no longer have any current or future applicability
April 15, 2025 / Source: Department of the Treasury
On April 9, 2025, the President issued a Presidential Memorandum, Directing the Repeal of Unlawful Regulations, to implement Executive Order 14219, Ensuring Lawful Governance And Implementing The President’s “Department of Government Efficiency” Deregulatory Initiative (Deregulatory E.O.), 90 FR 10583 (Feb. 19, 2025). The Deregulatory E.O. directed the heads of executive departments and agencies to review…
Supervisory Correspondence: Electronic Communication Adopted as the Preferred Method
April 15, 2025 / Source: Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is making permanent the establishment of electronic communications as the preferred method for supervisory correspondence. This makes permanent the alternative secure mail procedures that were initially implemented on a temporary basis in March 2020. Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-supervised…
OCC Releases Letter on Information Security Incident to Supervised Institutions
April 15, 2025 / Source: Office of the Comptroller of the Currency
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today publicly released a letter sent to its supervised institutions regarding unauthorized access to OCC email systems. The OCC provided public notice of the unauthorized access and its designation as a major information security incident on April 8, 2025. The OCC is committed to taking all actions to…