FOMC Minutes Released, March 17-18 2026 Meeting
The Federal Reserve released the minutes of the FOMC meeting held on March 17-18, 2026. The minutes, published on April 8, 2026, describe economic and financial conditions considered by the Committee and are typically released three weeks after policy decisions. The full minutes are available in HTML and PDF formats on the Board's website.
SEC Appoints David Woodcock as Director of Division of Enforcement
The SEC announced the appointment of David Woodcock as Director of the Division of Enforcement, effective May 4, 2026. Woodcock, currently a partner at Gibson, Dunn & Crutcher LLP, previously served as Director of the SEC's Fort Worth Regional Office from 2011 to 2015. He will succeed Acting Director Sam Waldon and lead the Division's 1,000+ enforcement professionals.
Treasury Proposes Rule Implementing GENIUS Act Sanctions Compliance for Stablecoin Issuers
The U.S. Department of Treasury's FinCEN and OFAC issued a joint proposed rule on April 8, 2026, to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The proposed rule would require permitted payment stablecoin issuers to adopt and maintain effective sanctions compliance programs and AML/CFT programs. The rule aims to mitigate illicit finance risks while encouraging innovation in payment stablecoins.
Tenth Circuit to Review Colorado Rate Cap Law
The Tenth Circuit Court of Appeals has agreed to review a Colorado law capping interest rates on consumer loans. The case, which may set precedent for rate cap regulations, will examine whether the state's 36% rate cap violates federal law or preemption principles. Banks and alternative lenders offering consumer credit products in Colorado should monitor this proceeding.
Americans lost $20.9B to cybercrime in 2025
ABA Banking Journal reports FBI data showing Americans lost $20.9 billion to cybercrime in 2025, a 26% increase from the prior year. The article discusses common attack vectors affecting banks and their customers, along with recommended defensive measures. Financial institutions should note the escalating threat landscape when reviewing cybersecurity programs.
FDIC Proposes Stablecoin Rulemaking Under GENIUS Act
The FDIC has proposed rulemaking to implement stablecoin regulations under the GENIUS Act framework. The proposal would establish federal oversight requirements for banks and financial institutions engaged in stablecoin issuance, custody, and payment activities. Banks and fintech companies involved in digital asset payments should monitor this development as the comment period opens.
FinCEN proposes fundamental Bank Secrecy Act reform
FinCEN and federal banking agencies have proposed a comprehensive overhaul of Bank Secrecy Act compliance requirements for financial institutions. The proposal aims to modernize AML program obligations and reporting thresholds. ABA Banking Journal reports on the reform implications for community and commercial banks.
Big tech ad fraud, accountability, KYC rules
The ABA Banking Journal published a podcast episode (Fraudcast) examining how big tech advertising platforms may be facilitating scam ecosystems, and exploring accountability mechanisms and KYC (Know Your Customer) requirements as potential regulatory responses. The episode discusses compliance implications for banks addressing fraud risks linked to digital advertising.
CISA Advisory Warns Critical Infrastructure of Iran Cyberattacks
The ABA Banking Journal reports that CISA, alongside FBI, NSA, and Treasury agencies, issued a joint advisory warning critical infrastructure operators—including financial institutions and water systems—of increased Iran-linked cyber threat activity. The advisory highlights potential attacks targeting operational technology and claims of successful intrusions by Iranian threat actors against organizations worldwide.
Pittsfield Cooperative and Adams Community Bank Announce Merger, $1.5B Assets
Pittsfield Cooperative Bank and Adams Community Bank announced a merger agreement creating a combined institution with approximately $1.5 billion in assets. The merger would unite two Massachusetts community banks, expanding their market presence and operational scale. Final terms and regulatory approval timeline were not disclosed.
ACH and Stablecoins: Complementary Rails for a Converging Payments Ecosystem
NACHA published a white paper exploring how the ACH Network serves as the primary on- and off-ramp for stablecoin transactions, addressing integration of tokenized money with traditional banking rails. The paper analyzes the GENIUS Act's compliance requirements for payment stablecoin issuers and provides practical guidance on ACH return scenarios, fraud risks, and transaction monitoring for financial institutions entering the stablecoin ecosystem.
Nacha Announces Walrus Security as Preferred Partner for Account Validation and Fraud Prevention
Nacha announced Walrus Security as a new Preferred Partner for Account Validation, Fraud Monitoring, and Risk and Fraud Prevention. Walrus Security's DoubleCheck platform verifies ACH payment details before transactions are released, authenticating counterparty information using multiple identity signals to prevent credit-push frauds such as business email compromise.
IPR Center Partners with Rx-360 to Combat Counterfeit Pharmaceuticals
The National IPR Coordination Center (IPR Center) announced a partnership with Rx-360, the International Pharmaceutical Supply Chain Consortium, to strengthen enforcement against counterfeit pharmaceuticals and medical devices. The IPR Center will share investigative leads and areas of concern with Rx-360's network of pharmaceutical and medical device manufacturers, while both organizations will conduct joint outreach and training at industry events. This collaboration aims to enhance supply chain security and protect patient safety.
Comptroller Statement on Final Rule Eliminating Reputation Risk from Bank Supervision
The OCC and FDIC jointly issued a final rule removing reputation risk as a basis for bank supervisory action. The rule, presented by Comptroller Jonathan V. Gould, prohibits regulators from using subjective reputation-based grounds to deny banking services to lawful businesses and individuals. The rule implements the President's fair banking Executive Order and requires ongoing review of alleged debanking actions at the largest national banks.
FedNow Intermediary Access Proposal
The Federal Reserve Board issued a proposal on April 8, 2026, allowing U.S. banks and credit unions to use intermediaries for FedNow Service fund transfers. Currently, FedNow transfers are limited to two U.S. banks per transaction. The proposal would expand functionality to enable correspondent banking relationships and cross-border payment facilitation. The Federal Reserve is seeking public comments for 60 days following Federal Register publication.
Central Bank Exempts Principal Home Bridging Loans from LTI Limit
The Central Bank of Ireland published a targeted amendment to its macroprudential mortgage measures, exempting certain principal home bridging loans from the Loan-to-Income (LTI) limit. The exemption applies to short-term bridging loans (maximum 18 months) where repayment comes from property sale proceeds rather than regular income. The LTV limit and all other mortgage measure elements remain unchanged.
Financial Conditions of Credit Unions Report 2025
The Central Bank of Ireland published its annual Financial Conditions of Credit Unions Report for FY2025 ending 30 September 2025. The sector reported total assets of €22.5bn (up 5%), gross loans of €7.7bn (up 8%), and member savings of €18.7bn. The report provides statistical commentary on lending diversification, reserves, and return on assets.
Sunshine Act Meeting Notice - April 2026 Board Meeting
The FDIC announced a Sunshine Act Board meeting for April 7, 2026, to consider three items: a proposed rulemaking on GENIUS Act requirements for stablecoin issuers and insured depository institutions, a proposed rulemaking on AML/CFT programs, and a final rule prohibiting use of reputation risk by regulators. The meeting will be open to public observation via webcast.
Economic Outlook and the Labor Market
Federal Reserve Vice Chair Philip Jefferson delivered a speech at the University of Detroit Mercy on April 7, 2026, outlining his economic outlook. He characterized the U.S. economy as growing at roughly 2 percent in line with potential, supported by resilient consumer spending and business investment tied to AI infrastructure. He noted the labor market is roughly in balance but susceptible to shocks, with inflation remaining above the Fed's 2 percent target, creating risks to both sides of the dual mandate.
Russia General License 13Q and Venezuela General License Translations
OFAC issued Russia General License 13Q authorizing certain administrative transactions prohibited by Directive 4 under Executive Order 14024, and amended FAQs 999 and 1118. OFAC also published Spanish translations of five Venezuela General Licenses (46B, 47, 48A, 49A, 50A) and 19 associated FAQs covering oil sector operations, diluent sales, and petrochemical products. The translations are informational only and do not alter the English-language terms.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
The Federal Reserve System published a notice in the Federal Register announcing formations of, acquisitions by, and mergers of bank holding companies. The notice (91 FR 17806, Document No. 2026-06769) is a routine regulatory notification providing transparency on BHC activity. This one-page notice does not impose new compliance obligations but serves as an informational record of banking sector consolidation activity.
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
The Federal Reserve published a notice in the Federal Register regarding change in bank control notices and acquisitions of shares of banks and bank holding companies. The notice affects parties seeking to acquire control or significant ownership stakes in banking organizations and requires regulatory review of such transactions.
Written reply to Parliamentary Question on impact of rising interest rates and mortgage repayments for homebuyers
MAS responded to a parliamentary question on rising interest rates and mortgage repayments for Singapore homebuyers. The response outlined existing safeguards including the Total Debt Servicing Ratio with interest rate floors and HDB concessionary mortgage loans. Deputy PM Gan Kim Yong noted that Singapore interest rates have remained stable while advising homebuyers to exercise prudence given global economic uncertainty.
Parliamentary Reply: Variable Capital Companies Statistics
MAS provided parliamentary responses on Variable Capital Companies (VCCs) as of 1 April 2026. Singapore has 1,338 VCCs managed by licensed fund managers and banks. Last year, 25 VCCs were found to have held no assets without valid reason and their fund managers were directed to deregister them. MAS stated it conducts regular monitoring and review of fund managers, including regulatory compliance when using VCC structures.
Written Reply to Parliamentary Question on Household Liabilities and Assets
MAS addresses Parliament on household liabilities and assets
MAS strengthens GIRO safeguards, transaction limits considered
MAS has issued a parliamentary reply indicating it is working with the Association of Banks in Singapore to strengthen GIRO (General Interbank Recurring Order) safeguards following questions from Members of Parliament about consumer protections against erroneous deductions. The review will consider enabling customers to set monthly limits on transaction value and number, and enhancing transaction monitoring and due diligence on billing organisations. MAS advises consumers to review their GIRO arrangements and set appropriate transaction limits with their banks.
Written Reply on DBS and POSB Digital Banking Services Disruption
MAS replied to parliamentary questions regarding the DBS and POSB digital banking disruption on 19 March 2026. The one-hour service disruption prevented customers from viewing deposit balances and making digital payments, though ATMs and card services remained operational. Investigations found the disruption was caused by an erroneous step during a system change, and MAS will follow up with DBS to strengthen change management processes.
NCUA Proposes Associational Common Bond Rule Changes
The NCUA Board issued a proposed rule to modify the associational common bond requirements for credit union chartering and field of membership. The proposal would affect how credit unions define and expand their membership bases. The public comment period closes on June 8, 2026.
Bank Julius Baer fraudulent websites scam alert
The HKMA issued a scam alert warning the public about fraudulent websites associated with Bank Julius Baer & Co. Ltd. The alert reminds consumers that banks will not send SMS or emails with embedded hyperlinks directing them to bank websites for transactions, nor will they request sensitive information such as login passwords or One-Time Passwords via phone, email, or SMS. Affected individuals who have provided personal information or conducted transactions through these fraudulent sites should contact the relevant bank and report to the Hong Kong Police Force.
Final Rule Prohibits Use of Reputation Risk by Bank Regulators
The FDIC and OCC jointly issued a final rule on April 7, 2026, prohibiting banking regulators from using reputation risk as a basis for criticizing or taking adverse action against supervised institutions. The rule defines reputation risk and removes all such references from FDIC examination manuals including the Risk Management, Application Procedures, Trust, and Consumer Compliance Examination Manuals. The agencies clarified this rule does not impose obligations on supervised institutions.
AML/CFT Program Requirements Notice of Proposed Rulemaking
The FDIC, OCC, and NCUA issued a joint Notice of Proposed Rulemaking to revise AML/CFT program requirements for banks. The proposal would require banks to establish and maintain risk-based AML/CFT programs with four components: policies and controls, independent testing, a U.S.-based compliance officer, and employee training. FinCEN also issued a concurrent NPR on similar requirements for financial institutions.
GENIUS Act Proposed Rules for Payment Stablecoin Issuers
The FDIC Board approved a notice of proposed rulemaking on April 7, 2026, to implement the GENIUS Act by establishing requirements for FDIC-supervised permitted payment stablecoin issuers (PPSIs) and insured depository institutions (IDIs) engaged in payment stablecoin activities. The proposed rule sets authorized/prohibited activities, reserve asset requirements, capital and risk management standards, and a two-business-day redemption requirement. The FDIC also clarifies that deposits held as stablecoin reserves are not insured on a pass-through basis to payment stablecoin holders.
AML/CFT Program Requirements Proposed Rule
FDIC, OCC, and NCUA jointly published a proposed rule on April 7, 2026 to amend AML/CFT program requirements for supervised banks and credit unions. The amendments would align agency rules with FinCEN's concurrent proposals and the Anti-Money Laundering Act of 2020, including risk-based program requirements, U.S.-based compliance officer mandates, and enhanced FinCEN consultation procedures. Comments are due 60 days after Federal Register publication.
Final Rule Prohibiting Use of Reputation Risk by Regulators in Bank Supervision
The OCC and FDIC jointly issued a final rule codifying the prohibition of reputation risk from their supervisory programs. The rule defines reputation risk and explicitly bars the agencies from criticizing, taking adverse action, or instructing banks to close accounts based on political, religious, or cultural views; constitutionally protected speech; or lawful business activities perceived as reputation risks. The rule implements Executive Order 14331 aimed at ensuring fair banking access.
FDIC Board Approves Proposal to Implement GENIUS Act Stablecoin Requirements
The FDIC Board approved a notice of proposed rulemaking implementing the GENIUS Act for payment stablecoin issuers supervised by the FDIC. The proposal establishes prudential standards including reserve asset requirements, redemption obligations, capital standards, and risk management requirements for permitted payment stablecoin issuers and IDIs providing custodial services. It also clarifies that reserves backing payment stablecoins qualify for pass-through FDIC deposit insurance and that tokenized deposits meeting the statutory definition are treated like any other deposits under the Federal Deposit Insurance Act. Comments will be accepted for 60 days after Federal Register publication.
Korean Household Loans Rose KRW 3.5T in March 2026
The Financial Services Commission of Korea released March 2026 household loan statistics showing outstanding balances increased KRW 3.5 trillion (preliminary), accelerating from a KRW 2.9 trillion rise the prior month. Home-backed mortgage loans rose KRW 3.0 trillion while nonbanking sector lending accounted for KRW 3.0 trillion of the total increase. The FSC urged financial companies to prepare for upcoming household debt management measures effective April 17.
Sunshine Act Meeting Notice - Board Meeting With Less Than Seven Days' Advance Notice
The Federal Deposit Insurance Corporation published a Sunshine Act meeting notice announcing a Board meeting scheduled for April 7, 2026, at 1:00 p.m. The meeting will be open to public observation via webcast and will consider proposed rulemakings on stablecoin requirements under the GENIUS Act and Anti-Money Laundering/Countering the Financing of Terrorism programs, as well as a final rule on prohibition of reputation risk use by regulators.
OFAC SDN List Updates - Removals and Unblocking Actions
OFAC published notice of unblocking actions and SDN List removals for five persons effective March 6-13, 2026. Actions include removal of GLOBE TREKKERS LLC (Russia-EO14024), Carlos Arnoldo Lobo (SDNTK), and three CYBER2-listed individuals/entities including GAYKOVICH, KOVALEVSKIJ, and ACEX OY (Ukraine-/Russia-Related Sanctions).
Statement on GENIUS Act Stablecoin Implementation Proposal
FDIC Chairman Travis Hill announced the FDIC Board's consideration of a proposed rule to implement the GENIUS Act, establishing prudential requirements for payment stablecoin issuers that are subsidiaries of FDIC-supervised banks. The proposal covers reserve assets, redemptions, permissible activities, capital requirements, pass-through insurance, and the prohibition on yield. The FDIC seeks comment through 144 specific questions, including on tokenized deposit treatment.
Statement on Proposal to Implement the BSA Program Rule
FDIC Chairman Travis Hill delivered a statement at the April 7, 2026 Board meeting describing a proposal to implement the BSA Program Rule under the 2021 Anti-Money Laundering Act. The proposal would establish a risk-based supervisory approach, allowing banks to allocate resources toward high-risk activities and away from low-risk compliance exercises. Banks could rely on Treasury's National Priorities for risk assessments, while regulators would retain authority to act against serious violations such as drug cartel cash deposits or terrorist financing.
Statement on Final Rule Removing Reputational Risk from Supervisory Program
FDIC Chairman Travis Hill issued a statement announcing a final rule that eliminates "reputational risk" from the FDIC's bank supervisory program. The rule codifies the removal of supervisory focus on reputation risk as a standalone risk category, effective April 7, 2026. The change addresses concerns that unfocused attention to reputation risk could lead to pressure on banks to debank law-abiding customers.
Canada Sanctions 4 Iranian Officials for Human Rights Violations
Global Affairs Canada announced sanctions against 4 Iranian senior officials under the Special Economic Measures (Iran) Regulations for involvement in gross and systematic human rights violations. The individuals—Mohsen Karimi, Ahmad Kadem Seyedoshohada, Mustafa Mohebbi, and Hassan Akharian—have facilitated and directed repressive policies against protesters and dissidents. This marks Canada's 18th round of sanctions against Iran since October 2022.
Canada imposes additional sanctions against 7 Iranian individuals
Canada has imposed additional sanctions against 7 individuals under the Special Economic Measures (Iran) Regulations. The sanctioned individuals are linked to Iranian state bodies responsible for intimidation, violence, and transnational repression targeting Iranian dissidents and human rights defenders. With these latest measures, Canada has sanctioned 222 Iranian individuals and 256 Iranian entities in total.
Revised Enforcement Decree of Microfinance Support Act
The Financial Services Commission of Korea approved revisions to the Enforcement Decree of the Microfinance Support Act on April 6, 2026. The revision raises the common microfinance contribution rate for banks from 0.06% to 0.10% and for nonbanks from 0.03% to 0.045% of household loan sizes, generating an additional KRW 197.3 billion annually (KRW 134.5 billion from banks, KRW 62.8 billion from nonbanks). The Korea Inclusive Finance Agency will also be authorized to provide credit guarantees for microloans under the Credit Counseling and Recovery Service program.