Remarks by Under Secretary for Terrorism and Financial Intelligence Brian Nelson at SIFMA’s Anti-Money Laundering and Financial Crimes Conference

Remarks by Under Secretary for Terrorism and Financial Intelligence Brian Nelson at SIFMA’s Anti-Money Laundering and Financial Crimes Conference | site |





Information contained in U.S. Department of the Treasury press release dated: May 25, 2022

Remarks by Under Secretary for Terrorism and Financial Intelligence Brian Nelson at SIFMA’s Anti-Money Laundering and Financial Crimes Conference

May 25, 2022

As Prepared for Delivery Good morning—thank you, Ira, for the warm welcome, and thank you to SIFMA for inviting me to speak with you today. Compliance plays a critical role in protecting the integrity of the financial system, and no one appreciates that more than me and my colleagues at the Treasury Department. I know that many of you have been working around the clock these past few months to ensure that your institutions’ compliance programs keep pace as Russia’s war has r...

Federal and State Financial Regulatory Agencies issue Interagency Statement on Supervisory Practices regarding Financial Institutions affected by Hurricane Ida | site |



Board of Governors of the Federal Reserve System
Conference of State Bank Supervisors
Federal Deposit Insurance Corporation
National Credit Union Administration
Office of the Comptroller of the Currency


(Information contained in Board of Governors of the Federal Reserve System press release dated: August 30, 2021) The Office of the Comptroller of the Currency, Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators, collectively the agencies, recognize the serious impact of Hurricane Ida on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their super...

UPS announces Strategic Priorities, three-year Financial Targets and new ESG Targets | site |




The company will highlight priorities for its Customer First, People Led, Innovation Driven strategy; discuss targeted areas of growth including small and medium-sized businesses, healthcare and international; provide 2023 financial targets; and discuss newly established ESG targets.



(Information contained in UPS press release dated: June 9, 2021)

Atlanta - - UPS (NYSE:UPS) will host its investor and analyst conference today beginning at 9:00 a.m. EDT. The virtual event will be available in its entirety through a live webcast and replay at investors.ups.com .

(Graphic courtesy: UPS)

The company will highlight priorities for its Customer First,...

Federal Reserve Board releases results of Survey of Senior Financial Officers at Banks about their Strategies and Practices for managing Reserve Balances| site |


(Information contained in Board of Governors of the Federal Reserve System press release dated: May 20, 2021) The Federal Reserve Board on Thursday released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances. The Senior Financial Officer Survey is used by the Board to obtain information about deposit pricing and behavior, bank liability management, the provision of financial services, and reserve management strategies and practices. The most recent survey was conducted in collaboration with the Federal Reserve Bank of New York between March 19, 2021, and April 2, 2021, and includes responses from banks that held approximately three quarters of total banking system reserve balances at the time of the survey. Information a...

U.S. Department of Transportation modernizes the Office of Personnel Management’s Financial Management, says it Saves Millions in Taxpayer Dollars| site |


(Information contained in U.S. Department of Transportation press release dated: May 21, 2012) Washington D.C. - - The U.S. Department of Transportation announced that on May 12 the Office of Personnel Management (OPM) migrated to the Federal Aviation Administration Enterprise Service Center (FAA/ESC) Shared Financial and Procurement System. This migration was the result of a two-year collaborative effort to save time and money across government. The partnership among the Department, OPM, and the ESC will result in millions of dollars saved. Located at the Mike Monroney Aeronautical Center (MMAC) in Oklahoma City, the Department’s FAA/ESC is a leader in Shared Services across the federal government. ESC’s mission is to deliver reliable federal Shared Services in the areas of financial ...

Secretary of the Treasury Janet L. Yellen to Chair Meeting of the Financial Literacy and Education Commission | site |


(Information contained in U.S. Department of the Treasury press release dated: May 18, 2021)

Washington - - Secretary of the Treasury Janet L. Yellen will chair a meeting of the Financial Literacy and Education Commission (FLEC) on May 26, 2021. The meeting will focus on the role of financial education in reducing economic inequity.

The Commission’s vision is of sustained financial well-being for all individuals and families in the U.S. In furtherance of this vision, the Commission sets strategic direction for policy, education, practice, research, and coordination so that all Americans make informed financial decisions. Deputy Secretary of the Treasury Wally Adeyemo will moderate a discussion among experts in the field including:

• John Hope Bryant, Founder, Chairman, and CEO of Operation Hope,

• Marc

...

U.S. Department of Veterans Affairs Research reveals Link between Financial Strains and Risk of Homelessness | site |



(Information contained in U.S. Department of Veterans Affairs press release dated: April 6, 2021)

Washington - - Research findings from a Department of Veterans Affairs (VA) study reveal that issues related to financial strain are significant risk factors for becoming homeless and highlight the need to focus on financial well-being to help prevent homelessness among Veterans.

The study, led by VA’s National Center on Homelessness Among Veterans (the Center), was published in the March edition of Medical Care. “The study revealed that four types of financial strain — debt, unemployment, lower income and financial crises — increased the risk of future homelessness,” said the Center’s Lead Researcher Eric Elbogen, Ph.D. “Focusing on financial well-being as a whole as part of homeless prevention efforts at ...

Federal and State Financial Regulatory Agencies issue Interagency Statement on Supervisory Practices regarding Financial Institutions affected by Texas Winter Storms | site |



(Information contained in Board of Governors of the Federal Reserve System press release dated: February 22, 2021)

Board of Governors of the Federal Reserve System
Conference of State Bank Supervisors
Federal Deposit Insurance Corporation
National Credit Union Administration
Office of the Comptroller of the Currency The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators, collectively the agencies, recognize the serious impact of Texas Winter Storms on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to ...

Federal Reserve Board announces Final Rule intended to Reduce Risk and Increase Efficiency in the Financial System by applying Netting Protections to a broader Range of Financial Institutions | site |


(Information contained in Board of Governors of the Federal Reserve System press release dated: February 18, 2021) The Federal Reserve Board on Thursday announced a final rule that is intended to reduce risk and increase efficiency in the financial system by applying netting protections to a broader range of financial institutions. The final rule amends Regulation EE (Financial Institution Netting) to apply netting provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) to certain new entities including swap dealers. The rule would also make minor clarifications to the existing activities-based test in Regulation EE to clarify how the activities-based test applies following a consolidation of legal entities. Sections 401...

U.S. Treasury Department Holds Financial Sector Innovation Policy Roundtable | site |



Public-Private Forum Focused on Technology Solutions to Protect the Integrity of the U.S. Financial System


(Information contained in U.S. Department of the Treasury press release dated: February 10, 2021) Washington - - The United States Department of the Treasury hosted its inaugural U.S. Financial Sector Innovation Policy Roundtable on February 9 and 10. The Roundtable brought together policymakers and regulators with experts from the private sector to exchange views for collaborating on policy issues and innovative technologies that support global financial integrity, while fostering economic recovery, competitiveness, and financial inclusion. At the event, participants focused on how innovations like interoperable, privacy-preserving digital identity solutions, and more effective anti-money laundering and anti-fraud mechanisms, can provide...

U.S. Small Business Administration Re-Opens Paycheck Protection Program to Community Financial Institutions First | site |



Community Financial Institutions get dedicated access starting today



(Information contained in U.S. Small Business Administration [SBA] press release dated: January 11, 2021)

Washington - - The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, re-opened the Paycheck Protection Program (PPP) loan portal today at 9 am ET. SBA is continuing its dedicated commitment to underserved small businesses and to addressing potential access to capital barriers by initially granting PPP access exclusively to community financial institutions (CFIs) that typically serve these concerns.

When the PPP loan portal re-opened today, it initially accepted First Draw PPP loan applications from participating CFIs, which include Community Development Financial Institutions (CDFIs),...

President’s Working Group on Financial Markets Releases Statement on Key Regulatory and Supervisory Issues Relevant to Certain Stablecoins | site |




(Information contained in U.S. Department of the Treasury press release: December 23, 2020)

Washington - - The President’s Working Group on Financial Markets (PWG) today released a statement providing an initial assessment of key regulatory and supervisory considerations for participants in significant stablecoin arrangements with a U.S. nexus that are primarily used for retail payments. PWG Members welcome dialogue as U.S. authorities continue to assess the evolving technological and market landscape and U.S. regulatory framework with respect to stablecoins. “The statement reflects a commitment to both promote the important benefits of innovation and to achieve critical objectives related to national security and financial stability. Regulators will continue to look closely at stableco...

President’s Working Group on Financial Markets Releases Report on Money Market Funds | site |


(Information contained in U.S. Department of the Treasury press release: December 22, 2020) Washington - - In March 2020, short-term funding markets came under sharp stress amid growing economic concerns related to the COVID-19 pandemic and an overall flight to liquidity and quality among investors. Today the President's Working Group on Financial Markets (PWG) released a report that examines these events and sets forth potential policy measures to improve the resilience of money market funds and broader short-term funding markets. “During March, money markets experienced significant outflows, forcing Treasury and the Federal Reserve to step in to prevent a destabilizing run. We must now consider reforms to ensure this vulnerability does not threaten financial stability in the future,” said Deputy Secretary Justin Muzinich. The PWG agrees that while many of t...

U.S. Department of Labor announces Exemption to improve Investment Advice and Enhance Financial Choices for Workers and Retirees| site |



(Information contained in U.S. Department of Labor press release: December 15, 2020)

Washington, DC - - The U.S. Department of Labor today announced a new exemption for investment advice fiduciaries. The Department’s actions today benefit American workers and retirees by delivering more choices for their financial future with clear standards to be upheld by investment advice providers. The Department’s Employee Benefits Security Administration (EBSA) developed the exemption. “Today’s action provides clear regulatory standards that ensure American workers and retirees have access to high-quality, affordable investment advice,” U.S. Secretary of Labor Eugene Scalia said. “In tandem with action taken last year by the Securities and Exchange Commission, this exemption gives Americans a greater o...

Federal Reserve Board announces it has Formally Joined the Network of Central Banks and Supervisors for Greening the Financial System, or NGFS, as a Member | site |


(Information contained in Board of Governors of the Federal Reserve System press release: December 15, 2020) The Federal Reserve Board announced on Tuesday that it has formally joined the Network of Central Banks and Supervisors for Greening the Financial System, or NGFS, as a member. By bringing together central banks and supervisory authorities from around the world, NGFS supports the exchange of ideas, research, and best practices on the development of environment and climate risk management for the financial sector. The Board began participating in NGFS discussions and activities more than a year ago. "As we develop our understanding of how best to assess the impact of climate change on the financial system, we look forward to continuing and deepening our discussions with our NGFS colleague...