The Office of Foreign Assets Control updated its Specially Designated Nationals List and took sanctions action over the last week in its cyber program:SDN and Sanctions Lists Updates OFAC Removes Sberbank from SDN List: OFAC on May 6 removed Sberbank (Switzerland) AG from its Specially Designated Nationals List. Sberbank was initially designated pursuant to Executive […] The post Recent news from Treasury’s Office of Foreign Assets Control: May 10 appeared first on ABA Banking Journal ..read more

The CFPB released a report identifying what it said were four common complaints about credit card rewards programs made by consumers who filed complaints with the bureau. The post CFPB issues report on credit card rewards program complaints appeared first on ABA Banking Journal ..read more

ABA joined 87 other trade associations in a letter urging the Department of Labor to extend, to Sept. 1, the implementation date of the first increase to the minimum salary threshold under a new final rule altering the overtime regulations under the Fair Labor Standards Act. The post ABA, associations seek extension of overtime final rule implementation date appeared first on ABA Banking Journal ..read more

The Treasury Department has launched a new public-private partnership to provide what it said is a more comprehensive approach to defending the financial system from cyberattacks. The post Treasury Department launches cybersecurity initiative for financial services appeared first on ABA Banking Journal ..read more

The rate for a 30-year fixed-rate mortgage averaged 7.09% this week, down from last week when it averaged 7.22%. The post Mortgage rates fall appeared first on ABA Banking Journal ..read more

Senate Banking Committee members today painted very different pictures of so-called “junk fees,” with some committee Democrats claiming the fees drive up prices while Republicans argued the fees were a convenient scapegoat to distract from Biden administration policies that have failed to curb inflation. The post Senate Banking Committee members spar on ‘junk fees’ appeared first on ABA Banking Journal ..read more

What are the steps to drive a synchronized view of risk across the organization? The post Crafting board committees to drive optimal risk governance appeared first on ABA Banking Journal ..read more

FinCEN issued an advisory to assist financial institutions in detecting potentially illicit transactions related to Iran-backed terrorist organizations. The post FinCEN issues advisory on Iran-backed terrorist organizations appeared first on ABA Banking Journal ..read more

In a letter to House leaders, ABA and three banking associations expressed their support for a joint resolution to overturn a SEC staff accounting bulletin that changes the way banks and other publicly traded entities are expected to account for digital assets held in custody. The post ABA, associations urge House to overturn SEC treatment of crypto custody assets appeared first on ABA Banking Journal ..read more

Nine out of 10 small-business owners have a positive outlook about the prospects for their businesses over the next 12 months, up from 80% a year ago, according to a new survey by TD Bank. The post Bank Survey: Small-business owners optimistic about their future appeared first on ABA Banking Journal ..read more