Russian oligarchs – Regulatory Report

What's up

[ January 2, 2025 ] Three banks earn ‘outstanding’ ratings for CRA compliance as agency closes out reporting for year OCC
[ December 31, 2024 ] Two former credit union workers prohibited from financial institution work, leadership NCUA
[ December 30, 2024 ] Credit union regulator gives green light for some to use investment pilot program NCUA
[ December 30, 2024 ] Agencies, again, extend ‘discretion’ to 2026 on acting against investment funds that own banks FDIC
[ December 23, 2024 ] Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech CFPB

Agency sounds alarm over real estate investments by Russian oligarchs, other sanctioned players, entities

January 25, 2023 0

Investments in U.S. real estate by Russian oligarchs and others sanctioned by the federal government are the focus of an alert issued Wednesday by the Treasury’s top financial crime unit. According to the Financial Crimes […]

FinCEN notes BSA reporting on Russian oligarchs since invasion of Ukraine

December 22, 2022 0

Bank Secrecy Act (BSA) reports filed on Russian oligarchs, high-ranking officials, and sanctioned officials over an eight-month period included 454 reports detailing “tens of billions of dollars in suspicious activity” since Russia’s Feb. 24 invasion […]

Three banks earn ‘outstanding’ ratings for CRA compliance as agency closes out reporting for year

January 2, 2025 0

Three banks earned “outstanding” ratings in December for their efforts to make loans in low- and moderate-income (LMI) areas, the regulator of national banks said Thursday. The banks are The First National Bank of Sparta (Sparta, Ill.), First Seacoast Bank [...]
Two former credit union workers prohibited from financial institution work, leadership

December 31, 2024 0

Two former credit union workers in Virginia and Georgia were the subjects of prohibition actions in December, the federal regulator said Tuesday. The actions permanently prohibit both from participating in the affairs of any federally insured depository institution (although both [...]
Credit union regulator gives green light for some to use investment pilot program

December 30, 2024 0

Up to 30 complex federal credit unions (FCUs) will be allowed to engage in investment activities prohibited under portions of federal rules – but permitted by statute – under a pilot program approved Monday by the board of the federal credit [...]
Agencies, again, extend ‘discretion’ to 2026 on acting against investment funds that own banks

December 30, 2024 0

Once again, federal banking agencies said no action will be taken against banks or other firms that sponsor, manage, or advise investment funds and institutional accounts that become principal shareholders of banks. The agencies made the announcement Friday. The agencies [...]