On March 30, 2022, the FDIC issued a request for public comment on draft principles that would provide a high-level framework for the safe and sound management of exposures to climate-related financial risks. The draft principles are intended for the largest financial institutions, those with over $100 billion in total consolidated assets.

On March 29, 2022, the FDIC updated sections of the Consumer Compliance Examination Manual. The Consumer Compliance Examination Manual is a primary resource and reference tool for FDIC compliance examination staff when conducting Consumer Compliance and CRA examinations. It incorporates examination policies, procedures, and guidance and is available on the FDIC website as a resource for FDIC staff, bankers, and other members of the public.

On March 29, 2022, the FDIC, the Federal Reserve and the OCC issued reminders of their upcoming interagency final rule and provided clarification on the contact information banks must use to them when they experience a cyber notification incident. Starting May 1, 2022, banks regulated by the FDIC, Federal Reserve, or OCC (and their bank service providers) must comply with a new file rule that requires notification to regulators of certain computer-security incidents.

On March 25, 2022, the CFP announced that it will extend the deadline for the public to share input and stories on their experiences with exploitative junk fees until April 11, 2022. This is after the Bureau received a great amount of feedback from their Request for Information on exploitive junk fees that they issued last January 26, 2022.

On March 24, 2022, the OFAC designated dozens of Russian defense companies, 328 members of the Russian State Duma, and the head of Russia’s largest financial institution. This is in line with OFAC’s actions to impose severe costs on the Russian Federation for its illegal, unwarranted, and baseless war against Ukraine. The European Union, the United Kingdom, and Canada have also taken similar actions which reflects continued unity to hold Putin accountable for the war that he started.

On March 22, 2022, the CFPB issued policy guidance regarding potentially illegal practices related to consumer reviews. Through the guidance, the CFPB aims to ensure that customers can write reviews, including those posted online, about financial products and services that accurately reflect their opinions and experiences. The guidance also emphasized that practices such as posting fake reviews or inserting clauses that forbid a customer from publishing an honest review may violate the Consumer Financial Protection Act.