This compliance news round up features developments from the OCC, Federal Reserve, The Treasury, and others. Continue reading to catch up on the most recent news impacting our industry. Federal Reserve Governor Bowman Nominated to be Vice Chair for Supervision March 17, 2025 Federal Reserve Board Governor Michelle W. Bowman has issued a statement following her nomination by the president to be Vice Chair for Supervision of the Board of Governors of the Federal […]
Tag: OFAC
OFAC Guidance: Provision of Humanitarian Assistance to the Palestinian People
On November 14, 2023, OFAC released its Guidance for the Provision of Humanitarian Assistance to the Palestinian People to “clarify that U.S. sanctions do not stand in the way of legitimate humanitarian assistance to the Palestinian people.” The Guidance reinforces existing prohibitions and authorizations, along with a brief review of applicable general licenses and Q&A. Hamas and other organizations have used NGOs to support financing of their operations, making due diligence on suspect transactions and […]