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The CFPB has stated it plans to revoke its "Use of Digital User Accounts to Access Buy Now, Pay Later Loans" interpretive rule [89 FR 47068, May 31, 2024] in a Status Report and Joint Motion to Stay in Financial Technology Association v. Consumer Financial Protect Bureau in the U.S. District Court for the District of Columbia.

The Department of Housing and Urban Development Office of Housing, Multifamily Housing, and Office of Public and Indian Housing have published [90 FR 14376] in this morning's Federal Register a notice of a new matching program between the U.S. Department of Housing and Urban Development (HUD) and the Department of the Treasury, Bureau of the Fiscal Service, Do Not Pay (DNP) Treasury Working System.

This program aims to enhance the detection and prevention of fraud, waste, abuse and improper and unsupported payments in Federal benefit programs administered by HUD. Comments on the notice must be received no later than May 1, 2025. If no public comments are received by that time, the new agreement will become effective on May 1, 2025.

The Department of the Treasury has announced that OFAC has designated six individuals and seven entities involved in a money laundering network supporting the Sinaloa Cartel. The Sinaloa Cartel is responsible for a significant portion of the illicit fentanyl and other deadly drugs trafficked into the United States and has exploited multiple ports of entry along the southern border for its criminal activities.

Treasury also reported that FinCEN had issued an alert urging financial institutions to be vigilant to bulk cash smuggling and repatriation by Mexico-based transnational criminal organizations. The alert outlines methodologies associated with these operations and highlights red flag indicators in an effort to better equip financial institutions to counter this illicit activity.

• Chart of the Sinaloa Cartel Money Laundering Network

The Department of State announced its designation of six individuals who have engaged in actions or policies that threaten to further erode the autonomy of Hong Kong in contravention of China’s commitments, and in connection with acts of transnational repression.

For a link to names and identification information on the OFAC and State Department designated parties, see the March 31, 2025, BankersOnline OFAC Update.

The CFPB has announced that the Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2024 are now available on the Federal Financial Institutions Examination Council's (FFIEC) HMDA Platform for approximately 4,898 HMDA filers.

The published data contain loan-level information filed by financial institutions and modified to protect consumer privacy. A downloadable modified LAR file is available for every financial institution that has completed a HMDA data submission in the selected year. The modified LAR data represents the most current HMDA submission made by an institution.

Typically, some data resubmissions to correct errors occur during the weeks following the annual submission deadline. For this reason, data users may want to wait for the release of the Snapshot National Loan-Level Dataset to analyze the nationwide data.

The OCC yesterday reported it has withdrawn its participation in the interagency principles for climate-related financial risk management for large financial institutions.

"The principles providing guidance to banks for climate-related financial risk are overly burdensome and duplicative. The OCC’s existing guidance for banks to maintain a sound risk management framework applies to all activities conducted by supervised institutions and includes potential exposures to severe weather events or natural disasters,” said Acting Comptroller of the Currency Rodney E. Hood."

The NCUA has announced it issued four consent orders and two prohibition notices in March 2025 to individuals who are now prohibited from participating in the affairs of any federally insured depository institution. The orders and notices were issued against:

• Lindsay Risinger, a former employee of Barton Plan Employees Federal Credit Union in Luling, Louisiana
• Stephen Hopkins, a former employee of HealthPlus Federal Credit Union in Jackson, Mississippi
• Edward Nurse, a former employee of Park Side Financial Credit Union in Whitefish, Montana
• Nadaje Hendrix, a former employee of Hanscom Federal Credit Union in Middlesex, Massachusetts
• Jovan Eric Bell, a former employee of Navy Federal Credit Union in Vienna, Virginia
• Jalen Craig McMillan, a former employee of Navy Federal Credit Union in Vienna, Virginia