IRS launches new information sharing initiative for financial institutions
The law enforcement arm of the IRS has launched a new program to ensure financial institutions receive “quantifiable results” on...
Compliance and Risk
Banking regulators to rescind 2023 Community Reinvestment Act rule
Banking regulators announced they intend to rescind the 2023 Community Reinvestment Act final rule “in light of pending litigation.” They...
FDIC rescinds notification guidance for crypto activities
The FDIC rescinded earlier guidance urging banks to first contact the agency before engaging in crypto-related activities, part of a...
CFPB will not enforce small-dollar rule
The CFPB announced that “it will not prioritize enforcement or supervision actions” with respect to its 2017 small-dollar lending rule,...
SEC ends court defense of climate disclosure rules
The SEC voted to end its defense to several court challenges of its climate disclosure rule. The Biden-era rule requires...
Executive order phases out U.S. Treasury paper checks
Under a new executive order from President Trump, effective Sept. 30, the U.S. Treasury will no longer issue paper checks...
Report: FDIC to remove reputational risk from bank supervision
The FDIC is drafting rulemaking to remove reputational risk from its bank supervision, several media outlets reported. The move follows...
A crypto-friendly Trump administration could reopen crypto to banks
The OCC’s interpretative letters, renounced under Biden, already provide wide latitude
FinCEN to exempt U.S. companies from beneficial ownership reporting
FinCEN posted an interim final rule removing the requirement for U.S. companies and persons to report beneficial ownership information to...
Bowman urges Fed to review use of adverse comments in bank applications
Federal Reserve Governor Michelle Bowman urged the Fed board to reconsider its approach to adverse comments in bank applications, pointing...
