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Federal Reserve Consent Order with Jamal Hillman

The Federal Reserve Board has issued a consent prohibition order against Jamal Hillman, a former employee of First Financial Bank, for misappropriation of customer funds. This enforcement action prohibits Mr. Hillman from participating in the banking industry.

Federal Reserve Enforcement Actions for Embezzlement

The Federal Reserve Board announced enforcement actions against two former bank employees for embezzlement and misappropriation of funds. Jacob Hilton, formerly of United Bank, and Klaus Koberstein, formerly of East Cambridge Savings Bank, have each received consent prohibition orders.

New York Designates Butternut Valley Banking Development District

New York State Comptroller DiNapoli and the Department of Financial Services (DFS) have designated the Butternut Valley as a Banking Development District. This designation aims to support community banking and economic development in the region.

New York Regulation for Buy Now, Pay Later Loans

New York Governor Kathy Hochul announced a new regulation establishing comprehensive consumer protections for Buy Now, Pay Later (BNPL) loans. This regulation aims to provide a framework for BNPL services operating within the state, ensuring greater transparency and fairness for consumers.

New York Behavioral Health Treatment Access Campaign Launched

Governor Hochul has launched a public awareness campaign to educate New Yorkers on accessing behavioral health treatment. The campaign aims to inform individuals about their rights and available resources for mental health and substance use disorder services.

Statement on FY 2027 Executive Budget Hearing

New York State Department of Financial Services Acting Superintendent Kaitlin Asrow delivered a statement at a joint legislative public hearing on the FY 2027 Executive Budget, focusing on economic development. The statement outlines the DFS's priorities and budget requests for the upcoming fiscal year.

Jericho Share Ceases NY Operations for Selling Unlicensed Health Insurance

The New York State Department of Financial Services announced that Jericho Share has agreed to cease all operations in New York for selling unlicensed health insurance plans. This action follows an investigation into the company's activities.

PCAOB Chairman and Board Members Sworn In

The Public Company Accounting Oversight Board (PCAOB) announced that Demetrios (Jim) Logothetis was sworn in as Chairman, and Mark A. Calabria and Steven D. Laughton were sworn in as Board Members on February 10, 2026. The new leadership was appointed by the SEC and will oversee the PCAOB's statutory responsibilities.

PCAOB Publishes 15 New Firm Inspection Reports

The Public Company Accounting Oversight Board (PCAOB) has published 15 new inspection reports for audit firms. These reports cover firms in various countries and provide insights into their audit quality. The PCAOB encourages users to visit its Firm Inspection Reports page for more detailed filtering and data access.

PCAOB Sanctions Zwick CPA, Revokes Registration, Imposes $50,000 Penalty

The PCAOB has sanctioned Zwick CPA, PLLC, its owner Jack Zwick, and former audit manager Jeffrey Hoskow for multiple violations of PCAOB rules and standards related to the audit of Genie Energy Ltd. The sanctions include revoking the firm's registration, barring individuals, and imposing a $50,000 penalty.

PCAOB Publishes Expanded Inspection Reports on Three Firms

The PCAOB has published expanded inspection reports for three audit firms: Assure CPA, LLC; Kronick Kalada Berdy & Co, P.C.; and Michael T. Studer CPA P.C. These expansions are due to the firms' failure to adequately address quality control issues within the 12 months following the original inspection reports.

PCAOB Names William Ryan Acting Director of Enforcement Investigations

The Public Company Accounting Oversight Board (PCAOB) announced William Ryan has been named Acting Director of its Division of Enforcement and Investigations. He succeeds Robert E. Rice, who is retiring. This appointment oversees investigations and enforcement of PCAOB rules and securities regulations.

NCUA and FDIC Host Webinar on Financial Scams

The NCUA and FDIC are hosting a free webinar on March 12, 2026, to educate credit unions and banks on identifying and combating prevalent financial scams. The webinar will offer practical strategies, financial education resources, and best practices for protecting consumers.

NCUA Share Insurance Fund Results - Q4 2025

The National Credit Union Administration (NCUA) released the Share Insurance Fund results for the fourth quarter of 2025. The fund reported a net income of $113.8 million and held $24.1 billion in assets. The report also noted a decrease in credit unions with composite CAMELS codes 3, 4, and 5, with no federally insured credit union failures during the quarter.

NCUA Voluntary EGRPRA Review and Deregulation Project

The National Credit Union Administration (NCUA) has initiated a voluntary review of its regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA). This review, which is not statutorily required, aims to reduce regulatory burden on credit unions and will inform future regulatory changes. The comment period is open for 90 days.

NCUA Releases Q4 2025 Credit Union Performance Data

The National Credit Union Administration (NCUA) has released its fourth quarter 2025 performance data for federally insured credit unions. The report indicates growth in total assets and loans outstanding, alongside an increase in net income for the year 2025.

NCUA Proposes Deregulation Changes to Records Preservation Program

The National Credit Union Administration (NCUA) has proposed changes to its Records Preservation Program, aiming to clarify guidance and remove burdensome requirements. The proposals include removing appendices, defining key terms, and allowing electronic record formats, offering greater flexibility to credit unions.

Geographic Targeting Order for Southwest Border MSBs

FinCEN has issued a Geographic Targeting Order (GTO) imposing recordkeeping and reporting requirements on certain Money Services Businesses (MSBs) along the Southwest Border. This order aims to enhance efforts against illicit finance and money laundering activities.

FATF Lists Iran, DPRK, Burma as High-Risk; Kuwait, PNG Under Monitoring

FinCEN is informing U.S. financial institutions of the Financial Action Task Force's (FATF) updated lists of jurisdictions with strategic AML/CFT/CPF deficiencies. Kuwait and Papua New Guinea were added to the 'Jurisdictions Under Increased Monitoring' list, while Iran, DPRK, and Burma remain on the 'High-Risk Jurisdictions Subject to a Call for Action' list.

Canaccord Genuity LLC - Enforcement Action

FinCEN announced an enforcement action against Canaccord Genuity LLC, citing violations of the Bank Secrecy Act. The action resulted in a consent order and a financial penalty. This action serves as a reminder of the importance of robust AML compliance programs for financial institutions.

FinCEN Fines Canaccord Genuity $80 Million for BSA Violations

FinCEN has assessed an $80 million civil money penalty against Canaccord Genuity LLC for willful violations of the Bank Secrecy Act (BSA). This is the largest penalty ever imposed against a broker-dealer for BSA violations, stemming from failures in anti-money laundering programs and suspicious activity reporting.

FDIC FAQ on Capital Treatment of Tokenized Securities

The FDIC, OCC, and Federal Reserve have issued an FAQ addressing the capital treatment of tokenized securities for FDIC-insured financial institutions. The guidance clarifies how ownership rights represented by distributed ledger technology are treated under existing capital rules and confirms the technology-neutral nature of these regulations.

FDIC Extends Comment Period for GENIUS Act Stablecoin Rulemaking

The FDIC has extended the public comment period for its proposed rulemaking concerning the GENIUS Act application procedures for stablecoin issuance. The comment period is now extended to May 18, 2026, providing additional time for FDIC-supervised institutions to submit feedback.

FDIC Amends Guidelines for Appeals of Material Supervisory Determinations

The FDIC is amending its Guidelines for Appeals of Material Supervisory Determinations by replacing the Supervision Appeals Review Committee with a new Office of Supervisory Appeals. This office will serve as the final review level for supervisory determinations and will also expand appeal rights to certain enforcement action cases.

FDIC Final Rule on Signs, Advertising, and Misuse of Name/Logo

The FDIC issued a final rule amending regulations on official signs, advertising, and misuse of the FDIC's name or logo for insured depository institutions. The rule provides additional flexibility for digital signage and ATMs while clarifying consumer protections, with a compliance date of April 1, 2027.

Call Report Instructions for Q4 2025

The FDIC issued updated instructions for the Consolidated Reports of Condition and Income (Call Report) for the fourth quarter of 2025. The notice highlights the implementation of multifactor authentication for the Central Data Repository and provides submission deadlines for the December 31, 2025, report date.

CFTC Seeks Comment on Prediction Market Regulations

The Commodity Futures Trading Commission (CFTC) has published an Advanced Notice of Proposed Rulemaking (ANPRM) to solicit public comment on potential new regulations for prediction markets. The ANPRM seeks input on how existing rules apply to event contracts and what types of contracts may be prohibited.

CFTC Announces Marc H. Sielski as Executive Director

The Commodity Futures Trading Commission (CFTC) announced Marc H. Sielski has been named the agency's new executive director. Sielski will oversee administrative operations to support the CFTC's mission and ensure effective stewardship of public resources.

CFTC Senior Advisor Brigitte Weyls Departs

The Commodity Futures Trading Commission (CFTC) announced the departure of Senior Advisor Brigitte Weyls after 17 years of service. Weyls played a role in significant litigation, policy, and rulemaking initiatives, including those related to digital assets and emerging markets.

CFTC and SEC Sign MOU for Lawful Innovation

The CFTC and SEC have signed a Memorandum of Understanding (MOU) to enhance coordination and collaboration on lawful innovation, market integrity, and investor protection. The MOU establishes a Joint Harmonization Initiative to clarify definitions, modernize frameworks, and streamline reporting for areas of common regulatory interest, including crypto assets.

CFTC Advisory on Prediction Markets and Event Contracts

The CFTC's Division of Market Oversight issued an advisory reminding designated contract markets (DCMs) of their regulatory obligations under the Commodity Exchange Act and Commission regulations concerning the listing of event contracts. The advisory encourages innovation while emphasizing proactive compliance, particularly for sports-related event contracts.

Federal Reserve Board Approves FirstSun Capital Bancorp Merger with First Foundation Inc

The Federal Reserve Board has approved the application by FirstSun Capital Bancorp to merge with First Foundation Inc. This approval allows for the indirect acquisition of First Foundation Bank. The decision was announced on March 11, 2026.

Agencies Clarify Capital Treatment of Tokenized Securities

The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency have issued frequently asked questions to clarify the capital treatment of tokenized securities. The guidance confirms that eligible tokenized securities should receive the same capital treatment as their non-tokenized counterparts.

Federal Reserve Approves CBS Banc-Corp. Acquisition

The Federal Reserve Board has approved a notice from CBS Banc-Corp. to acquire TAG Bancshares Inc. and indirectly acquire Citizens Bank & Trust, Inc. This action pertains to a standard regulatory approval for a banking acquisition.

Federal Reserve Terminates Enforcement Actions Against Banks

The Federal Reserve Board announced the termination of several enforcement actions against Industrial and Commercial Bank of China and Standard Chartered Bank. These actions were terminated on various dates in February 2026, following the completion of their respective terms.

Federal Reserve Approves Associated Banc-Corp Acquisition of American National Corporation

The Federal Reserve Board has approved the application by Associated Banc-Corp to acquire American National Corporation. This approval allows Associated Banc-Corp to indirectly acquire American National Bank.

FDIC Approves Edward Jones Bank Deposit Insurance Application

The FDIC approved the deposit insurance application for Edward Jones Bank, a Utah-chartered industrial bank. The approval is subject to certain conditions, including maintaining a minimum tier 1 leverage ratio and capital/liquidity support from its parent companies. The approval order expires if the bank is not established within 12 months.

FDIC Issues List of Banks Examined for CRA Compliance

The Federal Deposit Insurance Corporation (FDIC) has issued a list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list includes evaluation ratings assigned to institutions in December 2025.

Agencies Clarify Capital Treatment of Tokenized Securities

The FDIC, Federal Reserve Board, and OCC have jointly issued Frequently Asked Questions to clarify the capital treatment of tokenized securities. The guidance confirms that eligible tokenized securities generally receive the same capital treatment as their non-tokenized counterparts and that the capital rule is technology-neutral.

FDIC Issues CRA Examination Schedules for Q2 and Q3 2026

The Federal Deposit Insurance Corporation (FDIC) has issued the Community Reinvestment Act (CRA) examination schedules for the second and third quarters of 2026. These schedules outline institutions slated for CRA examinations, which assess banks' records of meeting community credit needs.

FDIC Publishes January 2026 Bank Enforcement Actions

The Federal Deposit Insurance Corporation (FDIC) has published a list of administrative enforcement actions taken against banks and individuals in January 2026. The publication includes eight orders, comprising consent orders, orders terminating consent orders, orders to pay, and prohibition orders.

Paula Christina Krost - Consent Order and Fine

The Washington Department of Financial Institutions issued a consent order against Paula Christina Krost, requiring a $50,000 fine and prohibiting her from participating in mortgage lending until March 9, 2036. Krost also surrendered her mortgage loan originator license.

BaFin Warns High Performance Battery Holding AG of Suspected Public Offer

Germany's financial regulator, BaFin, has issued a warning regarding High Performance Battery Holding AG for suspected public offering of shares without a required prospectus. BaFin suspects the company is offering securities in Germany without the necessary prospectus approval, and no exemptions appear to apply.

FCA Imposes Restrictions on Sendsii Ltd

The FCA has imposed restrictions on Sendsii Ltd, preventing it from carrying out any regulated activity. This action follows the suspension of the firm's registration by HMRC. Sendsii Ltd is required to return all customer funds.

FCA Enforcement: Man jailed for illegal sale-rent-back scheme

The FCA has announced that Rajinder Gill has been sentenced to two and a half years in prison for running an illegal sale-and-rent-back scheme without authorization and illegally providing credit. His accomplices also received sentences. The scheme targeted vulnerable homeowners, resulting in significant financial losses and evictions.

CT Dept of Banking Removes Administrative Orders

The Connecticut Department of Banking has removed administrative orders for Set Forth, LLC and J. Davenport Advisors, LLC from its website. These removals indicate that the associated enforcement actions are concluded or no longer active on the public index.

Pension Fraud Alert: Impersonation Scams Rise

The Pensions Regulator (TPR) has issued a fraud alert urging the UK pensions industry to enhance security measures against impersonation scams. Analysis shows a rise in fraud targeting pension savers, with approximately £500,000 lost and £2.5 million at risk between 2021 and 2025.

PRA Fines UK Insurance Limited £10,625,000 for Solvency II Miscalculation

The Prudential Regulation Authority (PRA) has fined UK Insurance Limited (UKI Limited) £10,625,000 for miscalculating its Solvency II balance sheet during 2023-2024, leading to an overstatement of solvency. This is the first enforcement action where the PRA's Early Account Scheme was utilized.

BaFin Warns of Gainorex Investment App Targeting Consumers

Germany's financial regulator, BaFin, has issued a warning regarding the Gainorex Investment App, which is allegedly luring consumers through a WhatsApp group. BaFin suspects the operators are conducting banking business and/or financial services without the required authorization.

BaFin Conference on Proportionality in Banking Supervision and Regulation

The German Federal Financial Supervisory Authority (BaFin) has announced a conference on Proportionality in Banking Supervision and Regulation to be held on September 16, 2026, in Bonn. The event will focus on current developments in national and European banking regulation, including regulatory relief, new MaRisk, and merger control.