Treasury Sanctions Militia and Its Leader in Connection with Serious Human Rights Abuse in Libya

Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against Mohamed al-Kani (al-Kani) and the Kaniyat militia, which is responsible for the murder of civilians recently discovered in numerous mass graves in Tarhouna, as well as torture, forced disappearances, and displacement of civilians. Al-Kani and the Kaniyat […]

OCC Proposes Rule Regarding the CRA General Performance Standards

News Release 2020-160 | November 24, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today invited comment on a notice of proposed rulemaking regarding the Community Reinvestment Act’s (CRA) general performance standards. The OCC published a final rule in June 2020 to strengthen and modernize the agency’s regulations under the CRA […]

OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A.

News Release 2020-159 | November 24, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A. The OCC took this action based on the bank’s failure to maintain adequate internal controls and internal audit over its fiduciary business. The OCC […]

OCC Finalizes Update to Activities and Operations Rule

News Release 2020-158 | November 23, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a final rule that updates its rules for national bank and federal savings association activities and operations. The rule is part of the OCC’s continuous effort to modernize its rules and remove unnecessary requirements to […]

Readout from a Treasury Spokesperson on Secretary Mnuchin’s Video Conference with G20 Finance Ministers

WASHINGTON – On November 20, 2020, U.S. Treasury Secretary Steven T. Mnuchin participated on a video conference with G20 Finance Ministers prior to the 2020 G20 Leaders’ Summit.  The call focused on the global economic effect of the COVID-19 pandemic and the G20 response.  Secretary Mnuchin noted that the Debt Service Suspension Initiative, launched in […]

Agencies Provide Temporary Relief to Community Banking Organizations

News Release 2020-157 | November 20, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency The federal bank regulatory agencies on Friday announced an interim final rule that provides temporary relief for certain community banking organizations related to certain regulations and reporting […]

Proposed Rule Would Ensure Fair Access to Bank Services, Capital, and Credit

News Release 2020-156 | November 20, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today proposed a rule to ensure fair access to banking services provided by national banks, federal savings associations, and federal branches and agencies of foreign bank organizations. The proposal would codify more than a decade of OCC […]

Agencies Release Fact Sheet to Clarify Bank Secrecy Act Due Diligence Requirements For Banks and Credit Unions that Offer Services to Charities and Non-Profits

News Release 2020-155 | November 19, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency Federal financial institution regulatory agencies today issued a joint fact sheet clarifying that bank and credit unions compliance efforts to meet Bank Secrecy Act […]

Treasury Sanctions Entities Involved in Exporting Workers from North Korea

WASHINGTON – Today, the U.S. Department of the Treasury imposed sanctions on two entities involved in the exportation of forced labor from North Korea. These actions were taken pursuant to Executive Order (E.O.) 13722 of March 15, 2016, “Blocking Property of the Government of North Korea and the Workers’ Party of Korea, and Prohibiting Certain […]

Joint Statement on the Temporary Suspension of the Technical Negotiations in the International Working Group on Export Credits

ANKARA/BERN/BRASILIA/BRUSSELS/CANBERRA/OSLO/OTTAWA/SEOUL/TOKYO/WASHINGTON/WELLINGTON – We, the IWG vice-ministers listed below, believe that progress in technical negotiations in the International Working Group on Export Credits (IWG) requires consensus among members on certain core issues.  These include transparency into the terms offered in export finance transactions, as well as a scope of coverage that applies to both goods and […]