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FinCEN Issues Modified Southwest Border Geographic Targeting Order
September 10, 2025 / Source: FinCEN
WASHINGTON — Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is reissuing a modified Geographic Targeting Order (GTO) to combat illicit cartel and other criminal activity, including money laundering, along the southwest border of the United States. As modified, the GTO requires certain money services businesses to file Currency Transaction Reports with…
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Disclosure and Reporting of CRA-Related Agreements
September 9, 2025 / Source: OCC
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to,…
OCC Announces Actions to Depoliticize the Federal Banking System
September 9, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced actions to eliminate politicized or unlawful debanking in the federal banking system. The actions are consistent with the President’s Executive Order (EO) 14331, “Guaranteeing Fair Banking For All Americans,” and affirm that banks should provide access to financial services based on individualized, objective, and…
FinCEN Issues Guidance to Financial Institutions on Cross-Border Information Sharing
September 9, 2025 / Source: FinCEN
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing guidance to encourage and promote appropriate, voluntary cross-border sharing of information between and among financial institutions, including appropriate foreign financial institutions. The guidance aims to help combat the threats posed by money laundering, terrorist financing, and other illicit finance activity, including…
Treasury Sanctions Southeast Asian Networks Targeting Americans with Cyber Scams
September 8, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) implemented sanctions against large network of scam centers across Southeast Asia that steal billions of dollars from Americans using forced labor and violence. The action includes nine targets operating in Shwe Kokko, Burma, a notorious hub for virtual currency investment scams under…
The FDIC Updates its Enforcement Actions Manual regarding Minimum Standards for Termination of Cease-and-Desist and Consent Orders
September 8, 2025 / Source: FDIC
Summary: The FDIC has updated chapter four of its Formal and Informal Enforcement Actions Manual (manual), entitled Cease-and-Desist Actions, regarding the agency’s minimum standards for terminating cease-and-desist and consent orders issued under Section 8(b) of the Federal Deposit Insurance (FDI) Act. The manual provides direction for professional staff related to the work necessary to pursue formal and informal enforcement…
FinCEN Issues Guidance to Financial Institutions on Cross-Border Information Sharing
September 7, 2025 / Source: FinCEN
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing guidance to encourage and promote appropriate, voluntary cross-border sharing of information between and among financial institutions, including appropriate foreign financial institutions. The guidance aims to help combat the threats posed by money laundering, terrorist financing, and other illicit finance activity, including…
FDIC Issues List of Banks Examined for CRA Compliance
September 7, 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 June 2025. The CRA is a 1977 law that requires the FDIC to assess a bank’s record of…
Legal Standard Applicable to Supervisory Designation Proceedings
September 4, 2025 / Source: CFPB
AGENCY: Consumer Financial Protection Bureau. ACTION: Proposed rule; request for comment. SUMMARY: The Consumer Financial Protection Bureau (Bureau or CFPB) is proposing to adopt a standard definition of “risks to consumers with regard to the offering or provision of consumer financial products or services” that will bind the Bureau in proceedings to designate nonbank covered…
Update to the FDIC’s Consumer Compliance Examination Manual
September 4, 2025 / Source: FDIC
Summary: The FDIC’s Consumer Compliance Examination Manual has been updated to reflect that the FDIC will evaluate potential discrimination under the Equal Credit Opportunity Act and Fair Housing Act only through evidence of disparate treatment. Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions. Highlights: The following…
Treasury Sanctions China-Based Chemical Company to Combat Synthetic Opioid Trafficking
September 3, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Guangzhou Tengyue Chemical Co., Ltd. (Guangzhou Tengyue), a chemical company operating in China that is involved in the manufacture and sale of synthetic opioids to Americans. In addition to opioids, Guangzhou Tengyue has also sold dangerous analgesic chemicals often used as cutting…
Federal Reserve Board announces it will host a conference on payments innovation on Tuesday, October 21
September 3, 2025 / Source: FRB
The Federal Reserve Board on Wednesday announced that it will host a conference on payments innovation on Tuesday, October 21. The conference will bring together a range of interested parties to discuss how to further innovate and improve the payments system. “Innovation has been a constant in payments to meet the changing needs of consumers…
FinCEN Unveils User-Friendly Changes to FinCEN.gov
September 3, 2025 / Source: FinCEN
WASHINGTON—The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has unveiled a new, modernized layout of its website, FinCEN.gov. Information on the homepage has been reorganized to provide a more user-friendly communication format. The restructured navigation aims to make it easier for users to find information quickly and learn about FinCEN’s work to safeguard…
Disney to Pay $10 Million to Settle FTC Allegations the Company Enabled the Unlawful Collection of Children’s Personal Data
September 2, 2025 / Source: FTC
Disney will pay $10 million to settle Federal Trade Commission allegations that the company allowed personal data to be collected from children who viewed kid-directed videos on YouTube without notifying parents or obtaining their consent as required by the Children’s Online Privacy Protection Rule (COPPA Rule). The proposed order would transform how the entertainment behemoth designates videos on…
OCC Releases CRA Performance Evaluations for 11 National Banks and Federal Savings Associations
September 2, 2025 / Source: OCC
WASHINGTON—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, 2025, through August 31, 2025. Under the CRA, the OCC assesses an institution’s record of meeting the credit needs of its entire community, including low- and…
Treasury Intensifies Pressure on Iranian Oil Smuggling and Sanctions Evasion Schemes in Iraq
September 2, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a network of shipping companies and vessels led by Iraqi-Kittitian businessman Waleed al-Samarra’i (al-Samarra’i) for smuggling Iranian oil disguised as Iraqi oil. This network operates primarily by covertly blending Iranian oil with Iraqi oil, which is then marketed intentionally as solely of Iraqi…
FDIC Issues CRA Examination Schedule for Fourth Quarter 2025
September 1, 2025 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued the list of institutions scheduled for a Community Reinvestment Act (CRA) examination during the fourth quarter 2025. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter. The Community Reinvestment…
Federal Reserve Board announces final individual capital requirements for large banks, effective on October 1
September 1, 2025 / Source: FRB
Following its stress test earlier this year, the Federal Reserve Board on Friday announced final individual capital requirements for large banks, effective on October 1. Large bank capital requirements are informed by the Board’s stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs. In April, the Board proposed a rule to…
OCC Decreases the September 30, 2025, Assessment Rates for National Banks and Federal Savings Associations
September 1, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a decrease in assessment rates for the September 30, 2025, semiannual assessment. This is the fifth decrease in assessments since 2017 and will apply to all OCC-regulated institutions. “The OCC is operating more efficiently through a diligent effort to modernize its approach to bank…