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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…
Minutes of the Federal Open Market Committee, June 17–18, 2025
July 9, 2025 / Source: Board of Governors of the Federal Reserve System
The Federal Reserve on Wednesday released the minutes of the Federal Open Market Committee meeting that was held on June 17–18, 2025. The minutes for each regularly scheduled meeting of the Committee are generally published three weeks after the day of the policy decision. The descriptions of economic and financial conditions contained in these minutes…
Treasury Targets Additional Elements of Iran’s “Shadow Banking” Network
July 9, 2025 / Source: US Department of the Treasury
July 9, 2025 Illicit Infrastructure Funding the Regime’s Elite and the IRGC-QF WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating 22 entities based in Hong Kong, the United Arab Emirates (UAE), and TĂĽrkiye for their roles in facilitating the sale of Iranian oil that benefits the Islamic Revolutionary…
U.S. Attorney’s Office Warns of Fraud Schemes Following Texas Floods
July 8, 2025 / Source: US Attorney's Office Western District of Texas
SAN ANTONIO – The U.S. Attorney’s Office for the Western District of Texas is on alert for fraudsters seeking to profit off the catastrophic and deadly flooding in Texas. Millions of people fall victim to scams every year. Natural disasters and severe weather can create opportunities for fraud, occurring at a time when people may be…
Community Bankers Maintain Positive Economic Outlook
July 8, 2025 / Source: Conference of State Bank Supervisors
Washington, D.C. – Community bankers’ optimism on the future economy is holding steady, according to the 2025 second quarter results of the Community Bank Sentiment Index (CBSI). The CBSI dipped slightly to 126 from its peak value of 129 in the previous quarter, driven by a less optimistic outlook for a lighter regulatory environment and moderated…
FTC Sends More Than $2.9 Million to Consumers Harmed by Home Improvement Financing Firm
July 8, 2025 / Source: Federal Trade Commission
The Federal Trade Commission is sending more than $2.9 million in payments to consumers harmed by Ygrene Energy Fund, a home-improvement financing company that made false claims about the potential financial impact of its services. According to the FTC’s October 2022 complaint, Ygrene and its network of door-to-door home-improvement contractors deceptively sold Ygrene’s home-improvement financing program by…
HUD Provides Foreclosure Relief to Texans Impacted by Floods
July 8, 2025 / Source: US Department of Housing and Urban Development
Action from Secretary Turner provides immediate relief for more than 900 Federal Housing Administration (FHA) single family mortgages in impacted areas WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced a 90-day foreclosure moratorium on Federal Housing Administration (FHA)-insured single-family mortgages in the areas of Kerr County, Texas, devastated by continuing…
Final Three Members Charged in Prolific Chinese Money Laundering Scheme Plead Guilty to Laundering Tens of Millions in Drug Proceeds
July 7, 2025 / Source: US Department of Justice
Two Chinese nationals and a New York woman, all members of a prolific Chinese money laundering organization (CMLO), pleaded guilty today to money laundering charges involving drug trafficking proceeds. They are the last of six total defendants charged in the indictment to plead guilty. According to court documents, Enhua Fang, 38, and Jianfei Lu, 30,…
FFIEC Publishes 2024 Data on Mortgage Lending
July 7, 2025 / Source: Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council (FFIEC) recently published data on 2024 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,908 U.S. financial institutions. The Snapshot National Loan-Level Dataset released contains the national HMDA datasets as of May 19, 2025. The FFIEC released several data products to serve a variety of data users,…
OCC Allows National Banks and Federal Savings Associations in Texas Affected by Flooding to Close
July 7, 2025 / Source: Office of the Comptroller of the Currency
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of Texas affected by flooding. In issuing the proclamation, the OCC expects that only those bank offices directly affected by potentially unsafe conditions…
FDIC Issues 2025 Consumer Compliance Supervisory Highlights
July 6, 2025 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued the 2025 edition of the Consumer Compliance Supervisory Highlights. The purpose of this publication is to enhance transparency regarding the FDIC’s consumer compliance supervisory activities and to provide a high-level overview of consumer compliance issues identified in 2024 through the FDIC’s supervision of state non-member banks…