The Office of Foreign Assets Control on Friday reauthorized Russian oil exports through May 16 to ease economic pressure from rising fuel prices due to military operations in Iran.
The sanctions were one of several actions the U.S. and its allies took in 2022 to penalize Russia for the invasion of Ukraine. OFAC first issued a temporary waiver for Russian oil in March, which expired on April 11. The new waiver extends those exemptions by roughly another month.
An independent supervisory appeals process at the OCC would serve as a crucial backstop to support and promote fair and consistent supervision, ABA said.
Nebraska lawmakers have passed legislation requiring social media companies to take steps to detect and remove fraudulent advertising on their platforms.
The Financial Services Information Sharing and Analysis Center has published a sector risk advisory with recommendations on managing cybersecurity and resilience risks stemming from bad actors using artificial intelligence to find vulnerabilities in an organization’s cyber defenses.
If enforcement of an Illinois law restricting interchange fees is not prevented before July 1, it will upend the debit- and credit-card operations of federally chartered financial institutions and wreak havoc on the national payment-processing system, ABA, the...
The federal banking agencies rescinded existing risk management model guidance and replaced it with revised principles that they said better account for a financial institution’s size and complexity. ABA applauded the revisions, noting that banks' use of AI...
The CFPB's new focus on reversing regulatory overreach and reducing unnecessary regulatory burdens will help make financial services more affordable and accessible for consumers, ABA said in response to the bureau’s draft strategic plan.
