Capturing the important news of the day in an easy to access way. We post news we feel is relevant to our members and community banks nationwide.
Whitelist [email protected] to ensure that you receive your update email.
If you’re still having difficulties receiving this Daily Email Campaign, please contact us at once through [email protected].
Secretary Scott Bessent’s Statement Before the Senate Finance Committee
June 12, 2025 / Source: Treasury
June 12, 2025 As prepared for delivery. Chairman Crapo, Ranking Member Wyden, and members of the committee—I’m grateful to join you today. Treasury is committed to working with Congress to improve our nation’s finances, create new jobs, and strengthen the economy. We look forward to coordinating with you on the President’s Budget and his tax…
Andrew Hughes Confirmed as Deputy Secretary of U.S. Department of Housing and Urban Development
June 11, 2025 / Source: HUD
WASHINGTON – The U.S. Senate today confirmed Andrew Hughes as the Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD) with a vote of 51-43. In this role, Hughes will serve as HUD’s Chief Operating Officer, working under the leadership of the Trump administration and Secretary Scott Turner to restore HUD to its…
Secretary Scott Bessent’s Statement Before the Appropriations Subcommittee on Financial Services and General Government
June 11, 2025 / Source: Treasury
Chair Hagerty, Ranking Member Reed, and members of the subcommittee—I’m grateful to join you today. Treasury is committed to working with Congress to improve our nation’s finances, create new jobs, and strengthen the economy. The President’s Budget request for Treasury demonstrates our commitment to boosting growth, promoting efficiency within our agency, and targeting illicit actors…
Treasury Disrupts Sham Overseas Charity Networks Funding Hamas and the PFLP
June 10, 2025 / Source: Treasury
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning five individuals and five sham charities located abroad that are prominent financial supporters of Hamas’s Military Wing and its terrorist activities. The individuals and entities sanctioned today are responsible for funding Hamas’s Military Wing under the pretense of conducting humanitarian…
Michelle W. Bowman sworn in as Vice Chair for Supervision of the Board of Governors of the Federal Reserve System
June 9, 2025 / Source: FRB
Michelle W. Bowman took the oath of office as Vice Chair for Supervision of the Federal Reserve Board on Monday. The oath was administered by Chair Jerome H. Powell in the press briefing room of the Board’s Martin building. President Trump nominated Ms. Bowman on March 24, 2025, and she was confirmed by the United…
Acting Comptroller of the Currency Releases Letter on Preemption
June 9, 2025 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood today released a letter in response to correspondence from the Conference of State Bank Supervisors requesting the Office of the Comptroller of the Currency (OCC) rescind its preemption regulations. In the letter, Acting Comptroller Hood reaffirmed the OCC’s support and defense of preemption as a cornerstone of…
Treasury Sanctions “El Chapo’s” Children and Los Chapitos, a Fentanyl-Trafficking Faction of the Sinaloa Cartel
June 9, 2025 / Source: Treasury
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Los Chapitos, a powerful faction of the Mexico-based Sinaloa Cartel that facilitates illicit fentanyl trafficking and production. Los Chapitos-controlled laboratories are responsible for introducing fentanyl in counterfeit pills manufactured by the Sinaloa Cartel and trafficked to the United States. Gunmen linked…
Speech – Taking a Fresh Look at Supervision and Regulation
June 8, 2025 / Source: FRB
It is a pleasure to join you today for my first public remarks as the Federal Reserve Board’s Vice Chair for Supervision.1 Today, I will describe my approach to leading the Fed’s Division of Supervision and Regulation in its vital work to promote the safe and sound operation of the U.S. banking system. I have spoken…
Federal Reserve Board begins 2025 Census of Finance Companies and Other Lenders
June 8, 2025 / Source: FRB
The Federal Reserve Board announced on Friday that it began its 2025 Census of Finance Companies and Other Lenders. This regular census is a key part of the Federal Reserve’s effort to produce data on the types and volumes of financing provided by nonbank financial institutions to households and businesses in the U.S. economy. The…
FinCEN Issues Advisory Highlighting Iranian Oil Smuggling, Shadow Banking, and Weapons Procurement Typologies
June 8, 2025 / Source: FinCEN
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing an Advisory to assist financial institutions in identifying, preventing, and reporting suspicious activity connected to Iranian illicit financial activity, including oil smuggling, “shadow banking,” and weapons procurement. The Advisory replaces FinCEN’s 2018 Iran Advisory, which FinCEN is rescinding today. The Advisory supports the implementation…
FDIC Issues List of Banks Examined for CRA Compliance
June 5, 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 March 2025. The CRA is a 1977 law that requires the FDIC to assess a bank’s record of…
Treasury Releases Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States
June 5, 2025 / Source: Treasury
WASHINGTON – The U.S. Department of the Treasury delivered its semiannual Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. In this Report, Treasury reviewed and assessed the policies of major U.S. trading partners, comprising about 78 percent of U.S. foreign trade in goods and services, during…
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Real Estate Reports
June 5, 2025 / Source: FinCEN
Release Date June 05, 2025 Agency Information Collection Activities; Submission for OMB Review; Comment Re… Action Type Notice and Request for Comment, Forms Renewal/Update
READOUT: Financial Stability Oversight Council Meeting on June 4, 2025
June 4, 2025 / Source: Treasury
WASHINGTON – Today, U.S. Secretary of the Treasury Scott Bessent convened a meeting of the Financial Stability Oversight Council (Council) in executive session at the U.S. Department of the Treasury (Treasury). During the meeting, Council members heard updates from the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office…
Acting Comptroller of the Currency Discusses Regulatory Agenda
June 3, 2025 / Source: OCC
WASHINGTON—Acting Comptroller of the Currency Rodney E. Hood today discussed his regulatory agenda in remarks at the U.S. Chamber of Commerce Capital Markets Summit. In his remarks, Acting Comptroller Hood detailed the Office of the Comptroller’s work to embrace bank-fintech partnerships, expand bank activities involving digital assets, promote financial inclusion and reduce regulatory burden to…
HUD Secretary Scott Turner Celebrates June as National Homeownership Month
June 3, 2025 / Source: HUD
WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner today declared June as National Homeownership Month, celebrating the power of homeownership to build stronger communities and spotlighting HUD’s role in restoring the American Dream of homeownership. “National Homeownership Month is a time to celebrate how HUD helps support and expand opportunities for…
Federal Reserve announces Wells Fargo is no longer subject to the asset growth restriction from the Board’s 2018 enforcement action against the bank
June 3, 2025 / Source: FRB
The Federal Reserve on Tuesday announced that Wells Fargo is no longer subject to the asset growth restriction from the Board’s 2018 enforcement action against the bank. The Federal Reserve determined that Wells Fargo has met all the conditions required by the 2018 enforcement action for removal of the growth restriction. Under the 2018 enforcement action, the…
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,…