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What's up

[ November 27, 2024 ] OCC increases assessment rates for 2025; asset cap for problem-bank surcharge calculation upped to $250 billion OCC
[ November 26, 2024 ] Weaknesses in process for escalating supervisory concerns need to be addressed, report contends FDIC
[ November 25, 2024 ] Funding risk vulnerabilities remain ‘notable’ among banks, with some MMFs susceptible to runs, report contends The Fed
[ November 25, 2024 ] Prices for Reserve Banks’ ‘mature’ priced services up an average 2.8% for 2025, Fed says The Fed
[ November 21, 2024 ] Bureau finalizes rule extending supervision over digital payment wallet apps CFPB

Global task force revises list of countries under increased monitoring for illicit funds movement and use in terrorism, other threats

October 31, 2022 0

The intergovernmental Financial Action Task Force (FATF) this month removed Nicaragua and Pakistan from its list of jurisdictions under increased monitoring related to standards for anti-money laundering, countering the financing of terrorism and others, but […]

Virtual asset firm assessed $29 million penalty over BSA violations; most credited back related to OFAC settlement

October 11, 2022 0

Treasury’s financial crimes unit has imposed a $29.3 million civil money penalty (CMP) against virtual asset service provider Bittrex over what it described as “willful” Bank Secrecy Act (BSA) violations, with a good portion of […]

Exam council to unveil updated summary ratios page as part of performance report review

October 6, 2022 0

An updated summary ratios page for the examination performance results of federally supervised financial institutions will be introduced next week, the umbrella group for the regulators said Thursday. According to the Federal Financial Institutions Examination […]

New group charged with providing climate-related financial risk advice to regulators

October 4, 2022 0

Providing advice on climate-related financial risks to federal financial institution regulators is the charge of a new a committee established late Monday by the Financial Stability Oversight Council (FSOC), the council announced Monday. The new […]

Report calls for crypto-asset legislation, rulemaking, including to limit regulatory arbitrage, provide federal ‘prudential framework’

October 4, 2022 0

Crypto-asset activities could pose risks to the stability of the U.S. financial system, according to a report issued late Monday by the Treasury Department, which also emphasizes the importance of appropriate regulation, including enforcement of […]

Rising incidence of ransomware use earns additional section in cybersecurity resource guide

October 3, 2022 0

Ransomware-specific resources to address the ongoing threat of ransomware incidents are included in the updated Cybersecurity Resource Guide for Financial Institutions, published originally in 2018 by the umbrella group for federal financial institution regulators, the […]

Reg Report taking September break; publication to resume Oct. 3

August 31, 2022 0

Regulatory Report is taking an extended break during September, as the editors take some time to refresh and retool. Today’s issue (Aug. 31) will be the last for several weeks, with daily publication to resume […]

Agency releases second part, on median family income, of three-part CRA data information

August 26, 2022 0

A flat file containing demographic median family income data for use in complying with anti-redlining laws was released Friday by the umbrella agency for federal financial institution regulators. The file, released by the Federal Financial […]

Data collection aims to fill ‘blind spot’ in repo market, along with a final rule

August 24, 2022 0

Groundwork to fill a data gap about inner workings of non-centrally cleared bilateral repurchase agreements (repos) is now being prepared through a data collection that will ultimately lead to a final rule, the Treasury Department’s […]

Paper raises questions about risks hedge funds’ activities pose to financial system stability

August 23, 2022 0

New questions are raised about the risks that hedge funds’ activities pose to financial system stability given the increasing importance of non-bank financial intermediaries, according to a paper released Tuesday by the Treasury’s financial research […]

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OCC increases assessment rates for 2025; asset cap for problem-bank surcharge calculation upped to $250 billion

November 27, 2024 0

Fees the national bank regulator charges supervised banks are going up next year, with a 16% increase planned for rates in the general assessment fee schedule for assets above $40 billion and 2.65% for all other rates in that schedule, [...]
Weaknesses in process for escalating supervisory concerns need to be addressed, report contends

November 26, 2024 0

The process for escalating supervisory concerns at banks and other regulated institutions has weaknesses that should be addressed, according to a report issued Tuesday. The Government Accountability Office (GAO) said bank failures in 2023 “raised questions about federal regulators’ ability [...]
Funding risk vulnerabilities remain ‘notable’ among banks, with some MMFs susceptible to runs, report contends

November 25, 2024 0

Vulnerabilities from funding risks remain “notable” for the nation’s banks and other institutions, according to a report issued Friday (Nov. 22), with such vehicles as money-market funds (MMFs) and other cash-management vehicles “remaining susceptible to runs owing to structural vulnerabilities.” [...]
Prices for Reserve Banks’ ‘mature’ priced services up an average 2.8% for 2025, Fed says

November 25, 2024 0

Fees for established, mature priced services the Federal Reserve Banks provide to banks and credit unions are rising on average by an estimated 2.8% beginning Jan. 1, excluding FedNow and Fedwire securities priced services, the central bank said Friday. The [...]
Bureau finalizes rule extending supervision over digital payment wallet apps

November 21, 2024 0

Digital payment wallet apps handling more than 50 million transactions annually are subject to a final rule requiring them to follow federal law applied to banks, credit unions and other financial institutions already supervised by the federal consumer financial protection [...]
Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted

November 21, 2024 0

The number of the lowest-rated credit unions based on their exam scores rose in the third quarter, their federal regulator said Thursday, reflecting strains on balance sheets and their consumer members, according to the agency. That total includes nine troubled [...]
CFPB publishes adjustments to thresholds under TILA, FCRA

November 21, 2024 0

Two adjustments to thresholds under lending disclosure and credit reporting rules were announced Thursday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) said the first threshold adjustment resulted from a final rule it issued amending [...]
Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme

November 21, 2024 0

The former CEO of a Kansas bank that failed after the embezzlement of $47.1 million in a cryptocurrency scheme has been prohibited permanently from serving at another federally insured financial institution, the Federal Reserve said Thursday. Shan Hanes, 53, of [...]