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The Consumer Financial Protection Bureau (CFPB) has published its 37th edition of Supervisory Highlights, which outlines recent findings from examinations of financial institutions completed in 2024. The report highlights unfair practices in the areas of deposits, such as unauthorized overdraft and non-sufficient funds fees, and issues with credit reporting related to identity theft and dispute investigations. It also discusses problems with short-term lending, including misleading loan terms and denial of credit under unfair conditions. The document emphasizes the importance of accurate information and consumer protection in financial services, noting efforts to correct violations and implement safeguards.

The Office of the Comptroller of the Currency (OCC) adopted a final rule to codify the Interagency Statement Clarifying the Role of Supervisory Guidance issued in 2018 along with the Federal Reserve, FDIC, NCUA, and the Bureau of Consumer Financial Protection. This rule emphasizes that supervisory guidance, unlike laws or regulations, does not have legal force and doesn't create legally binding obligations for the public. The rule aims to ensure that the OCC will follow the principles of administrative law and use guidance to support transparency and consistency in the supervision of banks. The final rule takes effect on March 15, 2021, and assures that supervisory guidance will continue to be a valuable tool without being enforceable like laws.

The Office of the Comptroller of the Currency, the Federal Reserve System, and the Federal Deposit Insurance Corporation are seeking public comments on proposed updates to the Consolidated Reports of Condition and Income, also known as Call Reports. These updates, intended to remain effective through 2021, address changes in asset measurement dates due to temporary asset growth linked to relief programs from the COVID-19 pandemic. The modifications aim to help financial institutions manage reporting burdens by allowing them to use asset figures from either December 2019 or June 2020 for determining their reporting requirements for the upcoming year. The agencies are inviting feedback about the utility, accuracy, and potential burden of these changes as they move forward with the proposal.

In this notice, the Department of Housing and Urban Development (HUD) details the actions taken by its Mortgagee Review Board against various mortgage companies. These actions include penalties and the withdrawal of FHA approval for violations like failure to maintain required financial standards, incorrect certifications, and untimely notifications of sanctions. The penalties often involve civil money fines and, in some cases, settlement agreements that do not admit fault. The document lists numerous mortgage companies and their specific violations as part of HUD's compliance enforcement efforts.

The Farm Credit Administration (FCA) has released a document addressing comments about reducing regulatory burdens on Farm Credit System (FCS) institutions, such as the Federal Agricultural Mortgage Corporation. It explains the FCA's response to feedback received about rules considered unnecessary or burdensome. Key points discussed include changes needed for accounting practices and reporting requirements, and some suggestions that align with ongoing regulatory projects. The FCA also mentions willingness to evaluate certain comments further and emphasizes its commitment to maintaining necessary regulations to ensure safety and soundness while reducing unnecessary burdens.

The Millennium Challenge Corporation (MCC) has named Albania as eligible to receive assistance for fiscal year 2025. This decision allows MCC to enter into a Millennium Challenge Compact with Albania, which aims to reduce poverty through economic growth. Albania was selected based on its satisfactory performance in key policy areas like just governance and economic freedom, as well as its progress in fighting corruption and ongoing development challenges. The selection was part of a reconsideration prompted by the new MCC Candidate Country Reform Act.

The Depository Trust Company (DTC) submitted a proposal to the Securities and Exchange Commission (SEC) to issue up to $3 billion in senior notes. The goal is to enhance DTC's liquidity by having more cash available in case a participant fails to meet their financial obligations. This idea aims to make DTC less reliant on existing credit resources and better prepared to meet its liquidity needs. The SEC reviewed the plan and concluded that it aligns with financial stability goals and risk management standards, thus posing no objections to the proposal.

The Federal Housing Finance Agency (FHFA) is proposing a rule requiring Fannie Mae and Freddie Mac to create resolution plans to ensure their smooth operation in case FHFA is appointed as a receiver. This rule is part of developing a strong regulatory framework for these enterprises as they prepare to exit conservatorship. The intended resolution planning aims to minimize market disruptions, ensure fair loss distribution among investors, and enhance market discipline. The FHFA invites public comments on this rule by March 9, 2021.

The Consumer Financial Protection Bureau (CFPB) has updated regulations for overdraft credit offered by very large financial institutions, such as banks and credit unions with more than $10 billion in assets. This new rule ensures that these institutions adhere to consumer protection laws that apply to other credit products, unless the overdraft fee is only meant to cover the costs incurred. By doing this, consumers will have better information to compare different credit options, making it easier for them to make informed decisions. The rule takes effect on October 1, 2025, and does not yet apply to smaller institutions, as the impact on the market will be assessed first.

The Consumer Financial Protection Bureau (CFPB) is proposing a new interpretive rule to help companies and investors understand existing rules around electronic fund transfers (EFTs) as people use new ways to transfer money for personal purposes. This rule stems from growing interest in products like stablecoins and virtual currencies, which are gaining use in non-traditional payment systems. The goal is to ensure consumer rights and liabilities under the Electronic Fund Transfer Act (EFTA) are clear and consistently applied, preventing confusion and competitive disadvantages among service providers. They seek public feedback on this proposal by March 31, 2025.