On April 5, 2022, the OFAC sanctioned the world’s largest and most prominent darknet market, Hydra Market (Hydra), in a coordinated international effort to disrupt proliferation of malicious cybercrime services, dangerous drugs, and other illegal offerings available through the Russia-based site. The operation was a collaborative initiative joined by the DOJ, FBI, DEA, IRS Criminal Investigation, and ICE.

On March 31, 2022, Acting Comptroller of the Currency Michael J. Hsu spoke at the American Bankers Association Risk 2022 Conference. In his speech, Hsu discussed how Russia's invasion of Ukraine has affected tail risks as well as tail risks associated with the trading of crypto-related derivatives.

On March 31, 2022, the FDIC issued the March 2022 edition of the Consumer Compliance Supervisory Highlights. The purpose of this publication is to enhance transparency regarding the FDIC’s consumer compliance supervisory activities and to provide a high-level overview of consumer compliance issues identified in 2021 through the FDIC’s supervision of state non-member banks and thrifts.

On March 30, 2022, the FDIC issued a request for public comment on draft principles that would provide a high-level framework for the safe and sound management of exposures to climate-related financial risks. The draft principles are intended for the largest financial institutions, those with over $100 billion in total consolidated assets.

On March 29, 2022, the FDIC updated sections of the Consumer Compliance Examination Manual. The Consumer Compliance Examination Manual is a primary resource and reference tool for FDIC compliance examination staff when conducting Consumer Compliance and CRA examinations. It incorporates examination policies, procedures, and guidance and is available on the FDIC website as a resource for FDIC staff, bankers, and other members of the public.

On March 29, 2022, the FDIC, the Federal Reserve and the OCC issued reminders of their upcoming interagency final rule and provided clarification on the contact information banks must use to them when they experience a cyber notification incident. Starting May 1, 2022, banks regulated by the FDIC, Federal Reserve, or OCC (and their bank service providers) must comply with a new file rule that requires notification to regulators of certain computer-security incidents.

On March 25, 2022, the CFP announced that it will extend the deadline for the public to share input and stories on their experiences with exploitative junk fees until April 11, 2022. This is after the Bureau received a great amount of feedback from their Request for Information on exploitive junk fees that they issued last January 26, 2022.

On March 24, 2022, the OFAC designated dozens of Russian defense companies, 328 members of the Russian State Duma, and the head of Russia’s largest financial institution. This is in line with OFAC’s actions to impose severe costs on the Russian Federation for its illegal, unwarranted, and baseless war against Ukraine. The European Union, the United Kingdom, and Canada have also taken similar actions which reflects continued unity to hold Putin accountable for the war that he started.