On September 25, 2025, the NCUA announced that it had stopped the use of reputation risk and equivalent concepts in the examination and supervisory process. These updates come after White House Executive Order 14331, which requires federal banking regulators to stop using "reputational risk" or similar ideas that could lead to politically motivated or unlawful debanking.

Sep 24
Sep 24 Treasury Targets Financial Network Supporting Iran’s Military

Adam Witmer

Regulatory Update, BSA

On September 16, 2025, the OFAC designated a pair of Iranian financial facilitators and more than a dozen Hong Kong- and United Arab Emirates (UAE)-based individuals and entities. These entities were sanctioned for their roles in coordinating funds transfers, including from the sale of Iranian oil, that benefit the IRGC-Qods Force (QF), and Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL).

Sep 23
Sep 23 Miran Sworns in as New Member of the Fed’s Board of Governors

Adam Witmer

Regulatory Update

On September 16, 2025, Dr. Stephen I. Miran took the oath of office as a member of the Board of Governors of the Federal Reserve System. The oath was administered by Judge Elizabeth L. Branch of the United States Court of Appeals for the Eleventh Circuit.

Sep 22
Sep 22 OFAC Published New Unblocking/Transfer Form

Adam Witmer

BSA, Regulatory Update

On September 19, 2025, the OFAC published a new Unblocking/Transfer Report Form to support compliance with reporting requirements under the Reporting, Procedures and Penalties Regulations. According to the OFAC, the new form offers a simplified way to report property that has been unblocked or transferred, which eases the burden on filers and improves OFAC's processing efficiency.

Sep 22
Sep 22 Treasury Seeks Comment on the GENIUS Act Implementation

Adam Witmer

Regulatory Update

On September 18, 2025, the Treasury has issued an Advance Notice of Proposed Rulemaking (ANPRM), seeking public comment related to Treasury’s implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

Sep 22
Sep 22 FDIC Requests Comments on AML/CFT Compliance Costs Survey

Adam Witmer

BSA, Regulatory Update

On September 12, 2025, the FDIC issued a notice and request for comment on a proposed information collection, a Survey of the Costs of AML/CFT Compliance. The survey seeks to gather information on the direct costs incurred by banks, savings associations, and credit unions in complying with the BSA/AML/CFT requirements, and the amount attributable to AML/CFT compliance that overlap with those of other activities such as fraud and credit monitoring.

Sep 18
Sep 18 Chairman Hill Reintroduces Bill to Focus Fed on Inflation

Adam Witmer

Regulatory Update

On September 17, 2025, House Committee on Financial Services Chairman French Hill, Rep. Byron Donalds, and Rep. Marlin Stutzman reintroduced the Price Stability Act. The goal of this legislation is to eliminate the Federal Reserve’s dual mandate and make sure the central bank solely focuses on controlling inflation.

Sep 17
Sep 17 FDIC Acting Chairman Travis Hill Statement at the Financial Stability Oversight Council

Adam Witmer

Regulatory Update

On September 10, 2025, FDIC Acting Chairman Travis Hill issued his statement at the September 2025 meeting of the Financial Stability Oversight Council. In his statement, Hill enumerated the agency’s work to improve its regulatory and supervisory approach.

Sep 16
Sep 16 Comptroller’s Statement at Financial Stability Oversight Council Meeting

Adam Witmer

Regulatory Update

On September 10, 2025, Comptroller of the Currency Jonathan V. Gould issued a statement at the Financial Stability Oversight Council (FSOC) meeting about the OCC's work to reset the risk tolerance for the federal banking system. Comptroller Gould discussed the OCC’s work to review the agency’s post-2008 chartering, regulatory, and supervisory framework to ensure the federal banking system remains relevant and fulfills its mission.

Sep 15
Sep 15 Treasury Sanctions Southeast Asian Cyber Scams

Adam Witmer

Regulatory Update, BSA

On September 8, 2025, the OFAC implemented sanctions against large network of scam centers across Southeast Asia that steal billions of dollars from Americans using forced labor and violence. The action includes nine targets operating in Shwe Kokko, Burma and ten targets based in Cambodia.

Sep 29
Sep 29 NCUA Removes Reputational Risk from Supervisory Processes

Sep 24
Sep 24 Treasury Targets Financial Network Supporting Iran’s Military

Sep 23
Sep 23 Miran Sworns in as New Member of the Fed’s Board of Governors

Sep 22
Sep 22 OFAC Published New Unblocking/Transfer Form

Sep 22
Sep 22 Treasury Seeks Comment on the GENIUS Act Implementation

Sep 22
Sep 22 FDIC Requests Comments on AML/CFT Compliance Costs Survey

Sep 18
Sep 18 Chairman Hill Reintroduces Bill to Focus Fed on Inflation

Sep 17
Sep 17 FDIC Acting Chairman Travis Hill Statement at the Financial Stability Oversight Council

Sep 16
Sep 16 Comptroller’s Statement at Financial Stability Oversight Council Meeting

Sep 15
Sep 15 Treasury Sanctions Southeast Asian Cyber Scams

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