The National Credit Union Administration (NCUA) Chairman Todd M. Harper and Board Member Tanya F. Otsuka have commented on the Consumer Financial Protection Bureau's (CFPB) recent enforcement action against VyStar Credit Union.
The U.S. Department of the Treasury held a roundtable on October 30, gathering representatives from various sectors to discuss responses to Hurricanes Helene and Milton.
The U.S. Department of the Treasury has announced a $125 billion offering of Treasury securities to refund approximately $116.4 billion of privately-held notes and bonds maturing on November 15, 2024.
The U.S. Department of the Treasury has unveiled its National Strategy for Financial Inclusion, a comprehensive plan aimed at expanding access to financial products and services across the United States.
AlpInvest, a private equity platform under Carlyle, has announced the closing of its second securitization, a $1 billion Collateralized Fund Obligation (CFO).
The U.S. Department of the Treasury has announced that the United States and Taiwan will commence negotiations on a comprehensive tax agreement to address double taxation issues.
The United States and Australia recently co-hosted a roundtable discussion as part of the Pacific Banking Forum to tackle issues related to de-risking and the decline of correspondent banking relationships in the Pacific region.
The National Credit Union Administration (NCUA) Board convened for its seventh open meeting of 2024, where members received updates on cybersecurity and charter modernization efforts. The briefings highlighted significant trends and challenges facing the credit union sector.
CorroHealth has announced a strategic partnership with Patient Square Capital, a health care investment firm. The agreement involves Patient Square making a significant investment in CorroHealth, which provides revenue cycle management solutions to health systems and plans. Current shareholders, including Carlyle, TT Capital Partners, Sanaka Group, and CorroHealth management, will remain involved as investors. Patient Square and Carlyle will share joint control of the company.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned Mirghani Idris Suleiman, the Director General of Sudan's Defense Industries System (DIS), under Executive Order 14098. Suleiman is accused of leading efforts by the Sudanese Armed Forces (SAF) to procure weapons amid their ongoing conflict with the Rapid Support Forces (RSF). OFAC previously designated DIS on June 1, 2023, for actions threatening Sudan's peace and stability.
Economic activity in the Fifth District of the United States has seen modest growth, according to a recent report by the Federal Reserve. Consumer spending increased slightly, with a rise in business travel offsetting a decline in leisure travel. Residential real estate activity experienced a minor slowdown, while commercial real estate remained stable.
The Federal Reserve Bank of Richmond recently highlighted the significant role community colleges play in workforce development. During a speech at the 2024 Virginia Education and Workforce Conference, Tom Barkin, President of the Federal Reserve Bank of Richmond, emphasized the importance of these institutions in addressing labor market imbalances.
The Federal Reserve Bank of Philadelphia has appointed two new members to its Community Depository Institutions Advisory Council (CDIAC). Mark W. Jaindl, CEO and chairman of the board of American Bank, and Gregory Matuson, president and CEO of Sturdy Savings Bank, have started their three-year terms on the council as of October 2024.
The Price Cap Coalition, comprising G7 countries along with the European Union, Australia, and New Zealand, has issued an updated advisory for the global maritime industry. This advisory is aimed at both government and private sector actors involved in maritime activities. The update focuses on best practices to promote responsible operations, disrupt sanctioned trade, and enhance compliance with existing price caps.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on 18 companies, individuals, and vessels connected to Sa’id al-Jamal, a financial official linked to the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and supporting Houthi operations. The entities involved are accused of facilitating illicit oil shipments that fund Houthi attacks in the region.
