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Speech – Economic Outlook
June 3, 2025 / Source: FRB
Thank you, Michael. I am honored to be back at the Council on Foreign Relations. 1 I would like to congratulate you on becoming president of this august body. I have known Mike for some time. In fact, he helped me when I was a graduate student working on my dissertation on Eastern Europe at the…
OCC Releases CRA Performance Evaluations for 18 National Banks and Federal Savings Associations
June 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 May 1, 2025, through May 31, 2025. Under the CRA, the OCC assesses an institution’s record of meeting the credit needs of its entire community, including low- and…
Supervisory Relief to Help Financial Institutions and Facilitate Recovery in Areas of Arkansas Affected by Severe Storms, Tornadoes, and Flooding
June 2, 2025 / Source: FDIC
Summary: The FDIC has announced a series of steps intended to provide regulatory relief to institutions and facilitate recovery in areas of Arkansas affected by severe storms, tornadoes, and flooding. Please review the FDIC’s Disaster Page to review information about what to do if your bank is affected. Statement of Applicability: The contents of, and material referenced in,…
Treasury Releases Request for Information related to the Executive Order 14247 “Modernizing Payments To and From America’s Bank Account”
June 1, 2025 / Source: Treasury
WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) released a request for information related to the Executive Order (EO) 14247 “Modernizing Payments To and From America’s Bank Account,” which transitions federal disbursements to electronic payments. Beginning September 30, 2025, all federal payments that are currently made by paper check—including Social Security benefits, tax refunds, and vendor payments—will…
Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances
June 1, 2025 / Source: FRB
The Federal Reserve Board on Friday released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances. The Senior Financial Officer Survey is used by the Board to obtain information about banks’ reserve balance management strategies and practices, their expectations for potential changes in both the…
FDIC Issues CRA Examination Schedules for Third Quarter 2025 and Fourth Quarter 2025
June 1, 2025 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the third quarter 2025 and 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…
Acting Comptroller of the Currency Discusses Financial Literacy Education
May 29, 2025 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood today discussed the importance of financial literacy education in remarks at the Financial Literacy and Education Commission. In his remarks, Acting Comptroller Hood discussed the role financial literacy education plays in driving financial inclusion and participation in the financial system. He encouraged careful monitoring of the rapidly…
Treasury Takes Action Against Major Cyber Scam Facilitator
May 29, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Funnull Technology Inc., a Philippines-based company that provides computer infrastructure for hundreds of thousands of websites involved in virtual currency investment scams, commonly known as “pig butchering,” along with its administrator, Liu Lizhi. Americans lose billions of dollars annually to these cyber scams,…
Statement on Chair Powell’s meeting with the President
May 29, 2025 / Source: FRB
At the President’s invitation, Chair Powell met with the President today at the White House to discuss economic developments including for growth, employment, and inflation. Chair Powell did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information and what that means for…
Federal Reserve Board issues Economic Well-Being of U.S. Households in 2024 report
May 28, 2025 / Source: FRB
The Federal Reserve Board on Wednesday issued its Economic Well-Being of U.S. Households in 2024 report, which examines the financial circumstances of U.S. adults and their families. Overall, the report shows that financial well-being was similar to the previous two years as concerns about prices persisted and labor market conditions remained solid. The report draws from the…
FDIC-Insured Institutions Reported Return on Assets of 1.16 Percent and Net Income of $70.6 Billion in the First Quarter
May 28, 2025 / Source: FDIC
May 28, 2025 Share on Facebook Share on X Follow the FDIC on LinkedIn Share through email Print WASHINGTON— The Federal Deposit Insurance Corporation (FDIC) today released the results of its latest Quarterly Banking Profile, a comprehensive summary of financial results based on reports from 4,462 insured commercial banks and savings institutions. In the first quarter 2025,…
OCC Issues Third and Fourth Quarter 2025 CRA Evaluation Schedule
May 28, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third and fourth quarters of 2025. The OCC encourages public comment on the CRA-related activities of the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the…
HUD and Census Bureau Report New Residential Sales in April 2025
May 27, 2025 / Source: HUD
WASHINGTON (MAY 27, 2025) – The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for April 2025: New Home Sales Sales of new single-family houses in April 2025 were at a seasonally-adjusted annual rate of 743,000, according to estimates released jointly today by the U.S….
Treasury Issues Immediate Sanctions Relief for Syria
May 27, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 25 to provide immediate sanctions relief for Syria in line with the President’s announcement for the cessation of all sanctions on Syria. GL 25 authorizes transactions prohibited by the Syrian Sanctions Regulations, effectively lifting sanctions on Syria. GL 25…
Speech – A View on Financial Stability
May 25, 2025 / Source: FRB
Thank you, Alessandra, for organizing us today, and thanks to you, Veronica Guerrieri, and Marina Azzimonti for initiating this effort seven years ago. I am honored to be with so many friends in macroeconomics at the 2025 Women in Macro Conference. I still read, recommend, and cite your work and am grateful to New York…
Agency Information Collection Activities; Proposed Renewal: Comment Request: Renewal Without Change of Reports of Transactions with Foreign Financial Agencies
May 25, 2025 / Source: FinCEN
Release Date May 23, 2025 Agency Information Collection Activities; Proposed Renewal: Comment Request: Re… Action Type Notice and Request for Comment, Forms Renewal/Update
Agency Information Collection Activities; Proposed Renewal: Comment Request: Renewal Without Change of Prohibition on Correspondent Accounts for Foreign Shell Banks; Records Concerning Owners of Foreign Banks and Agents for Service of Legal Process
May 22, 2025 / Source: FinCEN
Release Date May 22, 2025 Agency Information Collection Activities; Proposed Renewal: Comment Request: Re… Action Type Notice and Request for Comment, Forms Renewal/Update
Readout from Secretary of the Treasury Scott Bessent’s Meeting with Finance Minister Katsunobu Kato of Japan
May 22, 2025 / Source: Treasury
BANFF – Today, Secretary of the Treasury Scott K.H. Bessent met with Finance Minister Katsunobu Kato of Japan on the margins of the G7 Finance Ministers and Central Bank Governors meetings in Banff, Canada. Secretary Bessent and Minister Kato discussed important issues pertaining to the U.S.-Japan economic relationship, including global security and the ongoing bilateral…
Student Loan Debt Relief Scam Operators Agree to be Permanently Banned from Industry, Turn Over Assets to Resolve FTC Charges
May 22, 2025 / Source: FTC
The operators of an alleged transnational student loan debt relief scam have agreed to be permanently banned from the debt relief industry and to turn over more than $1 million in assets to resolve Federal Trade Commission charges that the operation bilked millions out of struggling student loan borrowers. “It is illegal for debt relief…
Treasury Sanctions High-Ranking Members of Foreign Terrorist Organization Cartel del Noreste
May 21, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two high-ranking members of the Mexico-based Cartel del Noreste (CDN), formerly known as Los Zetas. CDN, one of the most violent drug trafficking organizations in Mexico and a U.S.-designated Foreign Terrorist Organization (FTO), exerts significant influence over the border region, especially…
Statement of Policy on Bank Merger Transactions: Rescission and Reinstatement
May 20, 2025 / Source: FDIC
Summary: The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved the rescission of the agency’s 2024 Statement of Policy on Bank Merger Transactions (2024 Statement of Policy) and the reinstatement of the Statement of Policy on Bank Merger Transactions (Bank Merger Statement of Policy) that was in effect prior to 2024. As noted…
FDIC Board of Directors Releases Semiannual Update on Deposit Insurance Fund Restoration Plan
May 20, 2025 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors today released the latest semiannual update on the Restoration Plan for the agency’s Deposit Insurance Fund (DIF). FDIC staff projects that the reserve ratio remains on track to reach the statutory minimum of 1.35 percent ahead of the statutory deadline of September 30, 2028….
OCC Announces Deputy Comptroller for Community and Industry Relations
May 20, 2025 / Source: OCC
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced Andrew Moss as the Deputy Comptroller for Community and Industry Relations, effective June 2. “Andrew’s strong leadership, extensive experience in financial inclusion, and dedication to community and industry partnerships will strengthen the agency’s critical outreach and community development activities,” said Acting Comptroller of the…
CSBS Catalyst Initiative Aims to Develop New Technologies for Supervisory Challenges
May 20, 2025 / Source: CSBS
Washington, D.C. – The Conference of State Bank Supervisors (CSBS) today announced its new Catalyst Initiative, which seeks to address state financial regulatory agencies’ key supervisory challenges and reduce regulatory burden. The initiative will focus on partnering with the private sector to leverage modern technology and improve the efficiency and effectiveness of financial services supervision. “The Catalyst…
Secretary Turner, Secretary Burgum Visit Underutilized Federal Land for Affordable Housing Development in Southern Nevada
May 19, 2025 / Source: HUD
NEVADA – U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner and U.S. Department of Interior (DOI) Secretary Doug Burgum visited Southern Nevada to further the discussion about increasing affordable housing opportunities through development of underutilized federal land. Secretary Turner and Secretary Burgum were welcomed by Nevada Governor Joe Lombardo and Representative Mark Amodei…