Republicans Unveil Bill to Change CFPB Funding Structure
Gabrielle Saulsbery, Banking Dive
The agency would receive its funding from congressional appropriations instead of the Federal Reserve under the bill.
Republican lawmakers on the House Financial Services Committee unveiled legislation Tuesday that could change how the Consumer Financial Protection Bureau is funded, as well as limit its ability to enforce against unfair, deceptive, or abusive acts or practices…
Read moreJoint Statement on Suspicious Activity Report Confidentiality Considerations Regarding Communications with Customers
National Credit Union Administration
The Federal Reserve, FDIC, NCUA, OCC, and FinCEN are issuing this statement to clarify confidentiality requirements related to Suspicious Activity Reports (SARs), particularly when banks communicate with their customers regarding potentially fraudulent transactions, other suspicious activity (e.g., payment fraud, including check fraud), or account closures.
On June 20, 2025, the Federal Reserve, FDIC, and OCC issued a request for information (RFI) on potential actions to help consumers, businesses, and financial institutions mitigate the risk of payments fraud, with a particular focus on check fraud. In response, commenters raised a variety of concerns, including on bank personnel’s ability to communicate with a customer when a bank may file or has filed a SAR on potentially fraudulent activity…
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FDIC, OCC Issue Final Rule for Banks on Risks and Compliance Issues
Dave Kovaleski, Financial Regulation News
The U.S. Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) issued a final rule for banks related to financial risks and compliance with banking regulations.
Specifically, the final rule establishes a uniform definition for the term “unsafe or unsound practice” for the purposes of the agencies’ enforcement actions. The definition will promote greater clarity and certainty regarding certain enforcement and supervision standards and ensure that examiners prioritize concerns related to material financial risks over those regarding policies, process, documentation, and other non-financial risks…
Read moreFDIC Defeats $1.71 Billion Claim Over Silicon Valley Bank Collapse, US Judge Rules
Jonathan Stempel, Reuters/U.S. News
A U.S. judge said the former parent of Silicon Valley Bank cannot pursue a $1.71 billion claim against the FDIC stemming from the bank’s March 2023 collapse, one of the largest U.S. bank failures.
In a 206-page decision on Friday, U.S. District Judge Beth Labson Freeman in San Jose, California, held that a trust that took over the parent’s claims was responsible for former executives’ ill-fated decisions to try boosting profit by investing heavily in long-term government bonds and mortgage-backed securities…
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