OCC Issues Consent Order

Consent Order - The OCC issued a Consent Order against Anchorage Digital Bank based on the bank’s failure to adopt and implement a compliance program that adequately covers the required Bank Secrecy Act/anti-money laundering (BSA/AML) program elements. The OCC also issued a Consent Order against USAA Federal Savings Bank for deficiencies in the Bank’s Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) compliance program.

From the CFPB

Medical Billing & Credit Reports – The CFPB issued a report that examines the financial consequences of medical billing and collections endured by individuals and families across the country. The report draws from the rising volume of medical billing and collection complaints submitted to the CFPB. The Complaint Bulletin suggests that many medical bills reported on credit reports are disputed, inaccurate, or not owed.

Ukraine Support Fact Sheet

Ukraine Support Fact Sheet - The United States Department of the Treasury's Office of Foreign Assets Control (OFAC) issued a Fact Sheet for "Preserving Agricultural Trade, Access to Communication, and Other Support to Those Impacted by Russia's War Against Ukraine."

Rural Banking Access

Rural Banking Access - The CFPB issued a report on the challenges faced by Americans in rural communities. The report highlights that many of these communities lack access to physical bank branches, are more likely to seek credit from nonbanks, and are heavily affected by medical bills. The CFPB will be expanding its efforts to address these and other challenges facing the people and families of rural America.