Witnesses before the House Financial Services Committee decried the decline of community banks, urged regulatory reform and argued that regulatory burdens are discouraging new community bank formations.

A firm settled FINRA charges for failing to conduct independent testing of its anti-money laundering compliance program.

The SEC granted a temporary exemption to institutional investment managers from certain short-sale reporting requirements. The exemption delays compliance until January 2, 2026, to allow firms more time for system implementation and testing.

The US Treasury Department appointed Rodney Hood to serve as the acting comptroller of the currency, effective February 10, 2025. Mr. Hood succeeds Acting Comptroller Michael J. Hsu.

The Board of Governors of the Federal Reserve System released the 2025 stress testing scenarios for large banks. The tests reflect slightly less severe scenarios than last year.