Tag: banking
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OCC Releases July 2026 CRA Performance Evaluations for 14 Banks
The OCC released CRA performance evaluations for 14 banks and savings associations for July 2026. Ratings ranged from 'Outstanding' for several institutions to 'Needs to Improve' for one, assessing their commitment to community credit needs, including low- and moderate-income areas.
BusinessPolitics and GovernmentFederal GovernmentBankingEconomySocial Issues Community Reinvestment Act (CRA)Financial RegulationBanking IndustryOCCBank PerformanceCommunity DevelopmentCredit AccessOffice of the Comptroller of the Currency (OCC)
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Banking Regulators Update Community Bank Leverage Ratio Guide
Federal banking agencies have updated the Community Bank Leverage Ratio compliance guide, lowering the minimum leverage ratio and revising grace period rules for qualifying community banks, effective July 1, 2026.
BusinessPolitics and GovernmentEconomyBankingFederal GovernmentLegalFinancial Markets OCCFederal ReserveFDICCommunity Bank Leverage RatioBanking RegulationCapital RequirementsEconomic Growth, Regulatory Relief, and Consumer Protection ActOffice of the Comptroller of the Currency (OCC)
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OCC Releases Revised Guide to Boost Community Bank Lending
The OCC released a revised guide for the community bank leverage ratio framework, aiming to provide regulatory relief. This move could free up $64 billion for Main Street lending, benefiting 95% of community banks by simplifying capital requirements and reducing…
Politics and GovernmentBusinessFederal GovernmentEconomyBankingLegal Office of the Comptroller of the CurrencyCommunity Bank Leverage RatioRegulatory ReliefCommunity BanksMain Street LendingFinancial RegulationOffice of the Comptroller of the Currency (OCC)
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Federal Reserve Board Takes Enforcement Actions Against Former Bank Employees
The Federal Reserve Board has issued enforcement actions against former employees of Regions Bank and First Interstate Bank, as announced by its Board of Governors. Details of the actions or individuals were not disclosed.
BusinessPolitics and GovernmentLaw EnforcementBankingFederal GovernmentLegal Federal Reserve Boardenforcement actionsRegions BankFirst Interstate Bankregulatory oversightfinanceU.S. Federal Reserve
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Federal Reserve Board Issues Enforcement Action Against Iuka Bancshares
The Federal Reserve Board has announced an enforcement action against Iuka Bancshares, Inc. and The Iuka State Bank, as released by the Board of Governors of the Federal Reserve System.
BusinessPolitics and GovernmentBankingFederal GovernmentLegalEconomy Federal Reserve BoardIuka BancsharesThe Iuka State Bankenforcement actionfinancial regulationU.S. Federal Reserve
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Media Monitor: Federal Reserve holds rates steady amid inflation commitment
NPR reports the Federal Reserve held its benchmark interest rate steady Wednesday, with policymakers committed to curbing inflation.
Politics and GovernmentBusinessFederal GovernmentEconomyFinancial MarketsBanking Federal Reserveinterest ratesinflationmonetary policyNPR Breaking News
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Media Monitor: Federal Reserve Holds Rates Steady Amid Inflation Concerns
NPR is reporting that the Federal Reserve kept its benchmark interest rate unchanged Wednesday, with policymakers reaffirming their commitment to curbing persistent inflation.
BusinessPolitics and GovernmentEconomyBankingFederal GovernmentFinancial Markets Federal ReserveInterest RatesInflationMonetary PolicyNPR Breaking News
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Federal Reserve Issues FOMC Statement
The Federal Reserve has released its latest Federal Open Market Committee (FOMC) statement. This announcement provides key insights into the central bank's monetary policy and economic outlook.
BusinessPolitics and GovernmentEconomyBankingFederal Government Federal ReserveFOMCMonetary PolicyCentral BankEconomic OutlookStatementU.S. Federal Reserve
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OCC Comptroller Gould Emphasizes Financial Literacy and Digital Innovation
Comptroller Jonathan V. Gould highlighted the OCC's efforts to boost financial literacy, support responsible innovation, and provide practical consumer resources at a recent commission meeting, emphasizing digital tools and community bank partnerships.
Politics and GovernmentBusinessGeneral PoliticsFederal GovernmentEconomyBankingEducation Jonathan V. GouldOffice of the Comptroller of the CurrencyFinancial Literacy and Education Commissionfinancial literacydigital financecommunity banksconsumer protectionOffice of the Comptroller of the Currency (OCC)
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FinCEN Issues Policy to Support Venezuela's Economic Recovery and Earthquake Relief
FinCEN announced a temporary enforcement policy for U.S. financial institutions providing services in Venezuela. This aims to facilitate economic recovery and earthquake relief without penalizing good-faith compliance efforts.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyBankingLegalLatin AmericaVenezuela FinCENEconomic RecoveryEarthquake ReliefFinancial InstitutionsBank Secrecy ActOFACFinancial Crimes Enforcement Network
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FinCEN Extends Comment Period for Huione Group Rule Due to Technical Glitch
FinCEN has extended the comment period for its proposed rule on Huione Group, a financial institution of money laundering concern, until August 2, 2026. This follows a six-day technical issue preventing electronic submissions.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentLegalBankingEconomy FinCENHuione GroupH-Pay Service PLCMoney LaunderingComment PeriodRegulatory AmendmentFinancial CrimeFinancial Crimes Enforcement Network
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Crystal City Bank Robbery Suspect Arrested
Arlington County Police have arrested Brian Frances, 36, of Washington, D.C., in connection with a bank robbery in Crystal City on July 21. Frances faces robbery charges and awaits extradition to Virginia.
Law EnforcementBusinessBankingLegal Brian FrancesCrystal CityBank RobberyArlington County PoliceWashington D.C.Robbery ChargesExtraditionArlington County GovernmentReston
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FinCEN Details Extensive Efforts to Combat Fraud and Modernize Financial Regulations
FinCEN Director Andrea Gacki outlined significant progress in fighting fraud, recovering nearly $2 billion, and modernizing the Bank Secrecy Act regime, including new rules for stablecoins and a whistleblower program, before a House Subcommittee.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyBankingFinancial MarketsLegal FinCENFraudBank Secrecy ActAML/CFTWhistleblower ProgramStablecoinsFinancial RegulationFinancial Crimes Enforcement Network
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OCC Updates Credit Loss Guidance for Banks
The OCC has released an updated "Allowances for Credit Losses" booklet, replacing previous guidance. This version reflects the full adoption of CECL and recent policy changes, providing examiners with current information for supervising financial institutions.
BusinessPolitics and GovernmentBankingEconomyFederal GovernmentLegalFinancial Markets OCCAllowances for Credit LossesComptroller's HandbookASC Topic 326Current Expected Credit LossesBanking RegulationCredit RiskOffice of the Comptroller of the Currency (OCC)
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Federal Banking Agencies Issue Joint Statement on Handling Sensitive Data During Examinations
The OCC, Federal Reserve, and FDIC issued a joint statement on handling highly sensitive information during bank examinations. It outlines a coordinated approach to identify and minimize sensitive data collection, committing to notify banks of material data breaches within 72…
BusinessPolitics and GovernmentBankingFederal GovernmentLegalEconomy Office of the Comptroller of the CurrencyFederal ReserveFederal Deposit Insurance CorporationBank ExaminationsHighly Sensitive InformationData SecurityData Breach NotificationOffice of the Comptroller of the Currency (OCC)
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Bank Regulators Enhance Security for Sensitive Information During Examinations
Federal bank regulators issued a joint statement on enhanced security for highly sensitive information during bank examinations. Procedures include on-site review and a commitment to notify banks of data breaches within 72 hours, aiming to reduce cybersecurity risks and protect…
BusinessPolitics and GovernmentBankingFederal GovernmentEconomyLegal Bank ExaminationsHighly Sensitive InformationCybersecurityData BreachFederal Bank Regulatory AgenciesConfidentialityBanking & FinanceOffice of the Comptroller of the Currency (OCC)
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Federal Reserve Announces Joint Statement on Sensitive Bank Data
The Federal Reserve Board announced a joint statement from agencies on managing highly sensitive information during bank examinations, addressing critical data handling procedures within the banking sector.
BusinessPolitics and GovernmentBankingFederal GovernmentEconomyLegal Federal ReserveBank ExaminationsSensitive InformationJoint StatementFinancial RegulationRegulatory AgenciesU.S. Federal Reserve
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OCC Releases July 2026 Enforcement Actions Against Banks and Individuals
The OCC announced July 2026 enforcement actions, including a cease and desist order for United Texas Bank over BSA/AML issues and a prohibition order against a former JPMorgan Chase employee for theft. Four previous enforcement actions were also terminated.
BusinessLaw EnforcementBankingLegalFederal GovernmentEconomy OCCenforcement actionsUnited Texas BankJPMorgan Chase BankBSA/AMLbank fraudFinancial ServicesOffice of the Comptroller of the Currency (OCC)
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Federal Reserve Board Issues Enforcement Action Against Former Heritage State Bank Officer
The Federal Reserve Board has announced an enforcement action against a former chief lending officer of Heritage State Bank, as issued by the Board of Governors of the Federal Reserve System.
BusinessPolitics and GovernmentBankingFederal GovernmentLegal Federal Reserve BoardEnforcement ActionHeritage State BankChief Lending OfficerBanking RegulationU.S. Federal Reserve
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Financial Stability Council Addresses Geopolitical Risk, AI, and Market Stability
The Financial Stability Oversight Council, chaired by Treasury Secretary Scott Bessent, met to discuss geopolitical risk, AI's financial impact, quarterly stability, and nonbank designations, aiming to bolster U.S. financial system resilience.
Politics and GovernmentBusinessScience & TechnologyFederal GovernmentEconomyBankingFinancial MarketsArtificial Intelligence Financial Stability Oversight CouncilScott BessentU.S. Department of the TreasuryGeopolitical RiskFinancial StabilityNonbank Financial CompaniesUS Treasury
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Financial Stability Council Addresses Geopolitical Risk, AI, and Economic Security
The Financial Stability Oversight Council met to discuss geopolitical risk, AI's financial impact, Q2 2026 stability, and nonbank designations, aiming to bolster U.S. economic security and system resilience.
BusinessPolitics and GovernmentScience & TechnologyFederal GovernmentEconomyBankingFinancial MarketsArtificial IntelligenceComputers and Internet Financial Stability Oversight CouncilUS TreasuryScott BessentGeopolitical RiskFinancial StabilityNonbank Financial Companies
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Over $2.2 Million Recovered from Cyber Fraud Targeting Vermont's Chittenden Solid Waste District
The U.S. Attorney’s Office and FBI recovered over $2.2 million stolen from Chittenden Solid Waste District in a cyber-fraud scheme. Quick reporting by CSWD was crucial for the successful seizure and return of funds, benefiting Chittenden County residents.
Law EnforcementBusinessPolitics and GovernmentLegalEconomyComputers and InternetFederal GovernmentBanking Cyber FraudFund RecoveryChittenden Solid Waste DistrictFBIU.S. Attorney's OfficeVermontBurlington
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Former Hominy Bookkeeper Sentenced for $393K Bank Fraud
A former Hominy bookkeeper, Susan Marie Garrison, received a 33-month prison sentence for bank fraud. She stole over $393,000 from a family business by writing more than 240 checks to herself between 2017 and 2022.
Politics and GovernmentBusinessLaw EnforcementLegalFederal GovernmentBanking Susan Marie GarrisonBank FraudHominySand SpringsFBISentencingFinancial Crime
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Federal Reserve Highlights Beige Book and Digital Presence
The U.S. Federal Reserve directs the public to its "Beige Book" publication for economic insights and promotes engagement via its official website and various social media platforms.
BusinessPolitics and GovernmentEconomyBankingFinancial MarketsFederal Government Federal ReserveBeige BookEconomic ReportCentral BankPublicationsSocial MediaWashington D.C.U.S. Federal Reserve
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California Man Sentenced for $39M Bank Fraud Scheme
Gary Topolewski, 64, of Northridge, California, received a 78-month prison sentence for a nearly decade-long bank fraud scheme. He defrauded multiple financial institutions of $39 million, ordered to pay $19.4M restitution and $21.8M forfeiture.
BusinessLaw EnforcementBankingLegalFederal GovernmentFinancial Markets Gary TopolewskiBank FraudFinancial CrimeNevadaSentencingFBIRestitution
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Comptroller Gould Reflects on First Year, Outlines Vision for Modern Banking
Comptroller Jonathan V. Gould marked his first year, focusing on modernizing the federal banking system. He emphasized tailored regulation, fostering financial innovation, and strengthening the OCC's supervisory approach using technology to meet evolving financial needs and support economic growth.
BusinessPolitics and GovernmentScience & TechnologyEconomyBankingFederal GovernmentArtificial Intelligence Jonathan V. GouldOffice of the Comptroller of the CurrencyFederal Banking SystemFinancial RegulationFinancial InnovationEconomic GrowthBanking SupervisionOffice of the Comptroller of the Currency (OCC)
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Federal Reserve Vice Chair Bowman Discusses Financial Inclusion and Innovation
Federal Reserve Vice Chair Bowman spoke at the "Next-Gen Financial Inclusion" conference, emphasizing responsible innovation to expand financial access. Her remarks highlighted the importance of inclusive financial systems and leveraging technology for underserved communities.
BusinessPolitics and GovernmentFederal GovernmentBankingEconomySocial IssuesEducation Federal ReserveBowmanFinancial InclusionInnovationConferenceWashington D.C.U.S. Federal Reserve
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Governor Barr Discusses AI at Federal Reserve Financial Inclusion Conference
Federal Reserve Governor Barr discussed artificial intelligence at the third annual Financial Inclusion Conference, "Next-Gen Financial Inclusion," hosted by the Federal Reserve Board, addressing AI's role in the financial sector.
BusinessScience & TechnologyPolitics and GovernmentUSA Artificial IntelligenceFinancial InclusionFederal ReserveGovernor BarrConferenceTechnologyBankingU.S. Federal Reserve
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Federal Reserve Chairman Warsh to Testify on Monetary Policy
Federal Reserve Chairman Warsh is set to deliver testimony on the semiannual Monetary Policy Report to Congress. He will address the Committee on Financial Services, discussing the nation's economic outlook and the Fed's policy decisions.
Politics and GovernmentBusinessFederal GovernmentCongressEconomyBanking Federal ReserveChairman WarshMonetary PolicyU.S. House of RepresentativesFinancial Services CommitteeTestimonyEconomic ConditionsU.S. Federal Reserve
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Massachusetts Man Arrested for Double Bank Robbery
Joseph Sawyer, 52, of Townsend, Massachusetts, has been arrested by the FBI in connection with two armed bank robberies in Nashua, NH, and Boonton, NJ. He allegedly used a handgun and demanded cell phones during the June incidents.
Law EnforcementPolitics and GovernmentFederal GovernmentState GovernmentsLegalBanking Joseph SawyerBank RobberyFBINashua, New HampshireBoonton, New JerseyArrestMassachusetts