On May 10, 2023, the OFAC issued a notice that the US Department of Treasury is initiating the annual renewal of the public-trusted certificate securing www.treasury.gov website, including OFAC sanctions list downloads. The existing certificate will be replaced on May 15, 2023 at 8PM EDT. 

On May 10, 2023, the CFPB issued a new circular affirming that a bank may violate federal law if it unilaterally reopens a deposit account to process transactions after a consumer has already closed it. The guidance is being issued as a result of complaints that even after a consumer completes all the required steps to close an account, their bank has “reopened” the closed account and assessed overdraft and nonsufficient funds fees. The CFPB also received reports from consumers that financial institutions have also charged account maintenance fees upon reopening, even if the consumer was not required to pay account maintenance fees prior to account closure.

On May 1, 2023, the CFPB issued a proposed rule to implement a Congressional mandate to establish consumer protections for residential Property Assessed Clean Energy (PACE) loans. The proposed rule would require lenders to assess a borrower’s ability to repay a PACE loan and would provide a framework for how these loans will be treated under the Truth in Lending Act. 

On April 28, 2023, Freddie Mac announced that starting June 29, 2023, Loan Collateral Advisor will include new feedback messages​pdf to alert users when certain prohibited, subjective or potentially biased words or phrases are included in appraisal reports submitted to Freddie Mac through the Uniform Collateral Data Portal. This insight is intended to help users identify potential issues and to assist in compliance with Freddie Mac Single-Family Seller/Servicer Guide requirements.

On April 28, 2023, the FDIC released an internal review evaluating the agency’s supervision of Signature Bank, New York, New York, from 2017 until its failure in March 2023. The FDIC’s Supervision of Signature Bank identifies the causes of Signature Bank’s failure and assesses the FDIC’s supervision of the bank.

On April 28, 2023, the Federal Reserve Board announced the results from the review of the supervision and regulation of Silicon Valley Bank, which was led by Vice Chair for Supervision Michael S. Barr. The review identified four key causes of the bank's failure.

On April 26, 2023, the OCC issued a bulletin to banks to address the risks associated with overdraft protection programs. According to the OCC, overdraft protection programs can present a variety of risks, including compliance, operational, reputation, and credit risks. The bulletin discusses certain practices that may present heightened risk of violating prohibitions against unfair or deceptive acts or practices.

On April 26, 2023, the FDIC issued a supervisory guidance to its supervised institutions to ensure that supervised institutions are aware of the consumer compliance risks associated with assessing overdraft fees on a transaction that was authorized against a positive balance but settled against a negative balance (APSN). The guidance also clarifies that disclosures describing transaction processing may not mitigate the said risks.