News Release 2022-62 | May 26, 2022 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) will host a workshop in Dallas for directors, senior management team members, and other key executives of national community banks and federal savings associations, June 28-29. The Building Blocks: Keys to Success for Directors and […]
Category Archives: U.S. Treasury
OCC Issues Third and Fourth Quarter 2022 CRA Evaluation Schedule
News Release 2022-61 | May 25, 2022 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third and fourth quarters of 2022. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled […]
Treasury Targets Oil Smuggling Network Generating Hundreds of Millions of Dollars for Qods Force and Hizballah
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating an international oil smuggling and money laundering network led by Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) officials that has facilitated the sale of hundreds of millions of dollars’ worth of Iranian oil for both the IRGC-QF and Hizballah. […]
Remarks by Under Secretary for Terrorism and Financial Intelligence Brian Nelson at SIFMA’s Anti-Money Laundering and Financial Crimes Conference
As Prepared for Delivery Good morning—thank you, Ira, for the warm welcome, and thank you to SIFMA for inviting me to speak with you today. Compliance plays a critical role in protecting the integrity of the financial system, and no one appreciates that more than me and my colleagues at the Treasury Department. I know […]
Acting Comptroller Discusses Vulnerabilities, Volatility with Cryptocurrency
News Release 2022-60 | May 24, 2022 Share This Page: WASHINGTON — Acting Comptroller of the Currency Michael J. Hsu today discussed vulnerabilities in the cryptocurrency framework and recent volatility with stablecoins in remarks at the DC Blockchain Summit 2022. In his remarks, the Acting Comptroller discussed the fragemented ecosystem of cryptocurrency, risk of contagion, and […]
Acting Comptroller of the Currency Presents Bank Charter to Minority Depository Institution
News Release 2022-59 | May 23, 2022 Share This Page: WASHINGTON — Acting Comptroller of the Currency Michael J. Hsu today presented a full-service community national bank charter to Agility Bank, N.A. in Houston. The woman-owned and -led bank is the first new minority depository institution (MDI) national bank in 15 years. Typically, MDIs serve economically […]
G7 Finance Ministers and Central Bank Governors Meeting Communiqué
18 -20 May 2022, Petersberg, Germany Preamble We, the G7 Finance Ministers and Central Bank Governors, met on the Petersberg on 18-20 May 2022, joined by the Heads of the International Monetary Fund (IMF), World Bank Group, Organisation for Economic Cooperation and Development (OECD), and Financial Stability Board (FSB). We agreed on concrete actions to […]
Treasury Targets Hizballah Financial Network’s Abuse of the Business Sector
WASHINGTON – Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Ahmad Jalal Reda Abdallah, a Lebanese businessman and Hizballah financial facilitator, as well as five of his associates and eight of his companies in Lebanon and Iraq. This action illuminates Hizballah’s modus operandi of using the cover of seemingly legitimate […]
Treasury Announces First State Small Business Credit Initiative Awards to Support Underserved Entrepreneurs and Small Business Growth in Key Industries
WASHINGTON — Today, the U.S. Department of the Treasury announced the first group of plans approved under the new round of the State Small Business Credit Initiative (SSBCI). The American Rescue Plan reauthorized and expanded SSBCI, which was originally established in 2010 and was highly successful in increasing access to capital for traditionally underserved small […]
Acting Comptroller Issues Statement on Passing of John W. Ryan, President and CEO of the Conference of State Bank Supervisors
News Release 2022-57 | May 18, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu issued the following statement on the passing of John W. Ryan, President and CEO of the Conference of State Bank Supervisors (CSBS). I was deeply saddened to hear of the death of John W. Ryan, President and CEO […]