Agencies Seek Comment on Proposed Third-Party Risk Management Guidance and Issue Statement on Community Bank Engagement with Core Service Providers
Today the Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, and the Office of the Comptroller of the Currency (collectively, the agencies) requested comment on proposed guidance to assist financial institutions with managing risks associated with third-party relationships. The proposed guidance reflects the agencies’ supervisory experience and lessons learned from examining…
Treasury: IRS Proposes Rule to End Tax-Exempt Status for Discriminatory Practices in Private Schools
The Department of the Treasury and the Internal Revenue Service (IRS) have issued proposed regulations to end federal tax-exempt status for private schools that engage in racial discrimination, delivering on President Trump’s Executive Orders ending discrimination and restoring merit-based opportunity. “Under President Trump, this Administration is standing up for America’s students by ensuring racial discrimination…
FDIC: Board of Directors Approves Interim Final Rule Regarding Reciprocal Deposits
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved an interim final rule to implement section 902 of the 21st Century ROAD to Housing Act (the Housing Act), which amended the statutory framework governing reciprocal deposits. Consistent with the Housing Act, the interim final rule raises the amount of reciprocal deposits an “agent institution” may…
OCC: Agency Acts to Improve Transparency and Consistency to Bank Enforcement and Supervisory Standards
OCC issues two revised policies and procedures manuals; proposes amendments to Violations of Laws and Regulations framework The Office of the Comptroller of the Currency (OCC) today announced additional actions to focus supervisory attention on the most significant risks and violations and to provide banks greater clarity, consistency and certainty in how Matters Requiring Attention…
Agencies Issue Final Rule to Prioritize Material Financial Risks in Bank Examination
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (the agencies) today issued a final rule that continues their effort to focus examiners’ and institutions’ attention on material financial risks and compliance with banking and banking-related laws and regulations. The final rule is consistent with the objectives of the agencies’ proposal issued…
HUD: Agency Leads Interagency Rescission of 2022 Statement on Special Purpose Credit Programs
Advancing fair housing and equal treatment under the law Today, the Department of Housing and Urban Development (HUD), the Consumer Financial Protection Bureau (CFPB), the Department of Justice (DOJ), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Federal Housing Finance…
Agencies Rescind 2022 Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B
Summary: On August 25, 2026, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau, the Department of Housing and Urban Development, the Department of Justice, and the Federal Housing Finance Agency (collectively, the agencies) issued a Federal Register notice to rescind the 2022 Interagency…
SBA: Proposed Rule Issued to Overhaul & Simplify Small Business Classification & Expand Access to Federal Programs
Size standard proposal would increase small business count by over 110,000 Today, the U.S. Small Business Administration (SBA) proposed a comprehensive overhaul of its small business size standards, modernizing how the federal government defines and classifies small businesses across the United States. Published in a proposed rule, the new standards would simplify industry categorization and raise applicable size thresholds,…
Treasury: Public Comments Sought on GENIUS Act Proposed Rulemaking
Today, the U.S. Department of the Treasury issued a Notice of Proposed Rulemaking (NPRM), seeking public comment related to Treasury’s implementation of section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. “President Trump and Congress delivered the GENIUS Act, establishing a landmark framework and clear rules of the road for…
Treasury: FinCEN Permanently Ends Beneficial Ownership Reporting Requirements for Millions of Small Business Owners
Will Delete Information Previously Reported by U.S. Persons Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act. The final rule became effective on August 14, 2026. FinCEN today…