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The Financial Crimes Enforcement Network (FinCEN), part of the U.S. Treasury Department, has issued a Geographic Targeting Order for certain money services businesses along the southwest border of the U.S. These businesses must report currency transactions of more than $200 but not more than $10,000 and verify the identity of those making these transactions. The order, effective from April 14, 2025, to September 9, 2025, covers specific areas in California and Texas and aims to combat illegal financial activities by drug cartels. Failure to comply with this order could result in civil or criminal penalties.

The Federal Housing Finance Agency (FHFA) has proposed a new rule introducing liquidity and funding requirements for Fannie Mae and Freddie Mac, addressing weaknesses revealed during the 2008 financial crisis. These requirements aim to ensure the companies have enough liquid assets to cover short-term and long-term financial needs, reducing the risk that they will require taxpayer bailouts. The rule also includes reporting obligations for the companies, mandating that their liquidity positions and management strategies be shared with FHFA and the public. The proposal invites public comments and suggests adjustments to liquidity requirements during economic stress.

The Office of the Comptroller of the Currency (OCC), part of the Treasury Department, is seeking public comments on an information collection titled "Covered Savings Associations Notice," in line with the Paperwork Reduction Act (PRA). This notice aims to reduce paperwork and ensure efficiency by renewing procedures that allow certain Federal savings associations to operate with the same rights as national banks. Comments on the proposal should be submitted by April 14, 2025, and will be considered in the final decision process. The OCC is particularly interested in feedback on the necessity, clarity, and burden of the information collection.

The Office of the Comptroller of the Currency (OCC), part of the Treasury Department, is inviting public comments on the renewal of an information collection titled "Covered Savings Associations Notice." This action is part of the OCC's efforts to reduce paperwork and the burden on respondents. The collection involves Federal savings associations that choose to operate with the same rights and duties as national banks. The OCC seeks input on various aspects of this information collection, including its necessity, the accuracy of the burden estimates, and potential ways to reduce the burden on respondents.

The Export-Import Bank of the United States (EXIM) announced that it is adopting several categorical exclusions (CEs) from the Department of Energy under the National Environmental Policy Act (NEPA). These exclusions allow for certain proposed actions by EXIM that do not significantly impact the human environment, thereby speeding up project approvals and conserving resources by eliminating the need for detailed environmental assessments. This decision supports EXIM's Make More in America initiative by enabling quicker processing of transactions that promote U.S. business exports. EXIM consulted with the Department of Energy to ensure the appropriateness of these CEs for their proposed actions.

The Board of Governors of the Federal Reserve System has adopted a proposal to extend and revise several financial reporting forms for U.S. banking organizations with foreign subsidiaries and certain foreign banking organizations. These revisions, which take effect on March 31, 2025, are intended to align with updated accounting standards and reduce regulatory burdens. The revisions include changes to the Financial Statements of Foreign Subsidiaries (FR 2314/S), U.S. Nonbank Subsidiaries (FR Y-11/S), Reports of Foreign Banking Organizations (FR Y-7N/NS/Q), and related forms, to ensure better monitoring and assessment of financial conditions. Public comments were considered, leading to some modifications in the plan, such as adjustments to reporting scope and the timing for implementing new requirements.

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively known as "the agencies") are reviewing regulations affecting insured depository institutions. This review, under the Economic Growth and Regulatory Paperwork Reduction Act of 1996, aims to identify rules that are outdated, unnecessary, or too burdensome. The agencies are seeking public comments on specific categories of regulations, including Rules of Procedure, Safety and Soundness, and Securities, in hopes of reducing the regulatory impact, especially on community banks. Public comments are invited until March 11, 2025, and the agencies will use these to help decide if any regulations should be adjusted or removed.

The Consumer Financial Protection Bureau is seeking applications for membership on its advisory committees, which include the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council. These committees consist of experts from various fields like consumer protection, financial services, and economics to advise the bureau on consumer financial markets. The membership, which usually lasts two years, requires diverse representation of communities and interests, including those underserved. Applications are accepted online by February 24, 2021, and should include a cover letter, résumé, recommendation letter, and completed questionnaire. The Bureau aims to announce the selected new members in late summer 2021.

The Coast Guard is implementing a temporary safety zone on the Grand River in Grand Haven, MI, due to the demolition of the J.B. Sims power plant. This zone, which covers all navigable waters within 1,400 feet of the demolition site, is enforced from 9:30 a.m. to 10:30 a.m. on February 5 and 19, 2021, to protect people and vessels from potential hazards. People and vessels are prohibited from entering the area unless they have authorization from the Captain of the Port Lake Michigan. This measure is taken under the authority of the Coast Guard to ensure safety during the demolition process.

The Executive Order, titled "Improving Education Outcomes by Empowering Parents, States, and Communities," proposes closing the Department of Education and returning educational authority to the states and local communities. The order criticizes the federal control over education as ineffective and aims to reduce the federal bureaucracy involved in education. It calls for the Secretary of Education to ensure a smooth transition and maintain compliance with federal law, particularly in avoiding programs that promote illegal discrimination or gender ideology. The order asserts that its implementation should not impair existing legal authority or budget considerations.