ABA urges OFAC to ease compliance burden of updated reporting requirements
ABA said that while it appreciates recent updates to OFAC reporting requirements related to blocked and rejected transactions, further revisions...
Policy
Treasury Department seeks comment on AI use in financial services
The Treasury Department has issued a request for information on the use of artificial intelligence in the financial services sector.
OCC encourages banks to promote financial health of customers
The OCC released a report detailing ways that banks can promote the financial health of their customers.
Report: Lack of regulatory harmonization hurting cybersecurity outcomes
A lack of harmonization in cybersecurity regulation harms outcomes while increasing compliance costs through additional administrative burdens, the White House...
House subcommittee budgets $276 million for CDFI Fund in draft appropriations bill
A House subcommittee budgeted $276.6 million for the Community Development Financial Institutions Fund in its draft fiscal year 2025 appropriations...
CFPB establishes application process for open banking standard-setting bodies
The CFPB issued a partial final rule establishing the qualifications that organizations must meet to become recognized standards-setting bodies under...
FDIC issues regulatory relief guidance for Arkansas
The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of...
CFPB warns against certain terms in financial service contracts
The CFPB released a circular that warns against unlawful or unenforceable terms and conditions in contracts for consumer financial products...
FDIC finds VITA sites willing to direct unbanked to financial institutions
A new FDIC survey found most Volunteer Tax Assistance Provider sites are willing to provide their unbanked clients with a...
CFPB to require nonbanks to register consumer protection orders
The CFPB finalized a rule requiring certain nonbanks to register information about their company with the bureau along with any...
