The CFPB identified trends in the 2022 mortgage market, finding a “significant downturn” in mortgage-lending activities with the exception of lending in open-end lines of credit.
Treasury recommended best practices for financial institutions that have made "net-zero" financing and investment commitments.
The National Credit Union Association adopted amendments to regulations on indirect lending and leasing arrangements to members, "the purchase of loan participations and the purchase, sale, and pledge of eligible obligations and other loans."
The House Financial Services Committee considered testimony from witnesses on the impact of, and interaction between, recent regulatory banking proposals to implement Basel standards and increase capital requirements.
A Puerto Rico-based International Banking Entity settled charges with FinCEN for failing to (i) file suspicious activity reports, (ii) conduct adequate due diligence for foreign correspondent accounts and (iii) implement an anti-money laundering compliance program.