On September 28, 2022, the CFPB ordered Regions Bank to pay $50 million into the CFPB’s victims relief fund and to refund at least $141 million to customers harmed by its illegal surprise overdraft fees. Regions Bank is based in Alabama with more than $160 billion in consolidated assets and operates approximately 1,700 retail branches and 2,000 ATMs across 16 states. It offers and provides an array of financial products and services to consumers, including deposit accounts, credit cards, and lines of credit.

On September 27, 2022, the CFPB issued a statement through the Federal Register that the The Paperwork Reduction Act (PRA) authorization regarding the revised Policy on No-Action Letters and the Policy on the Compliance Assistance Sandbox (Policies) will expire on September 30, 2022. With the expiration of the PRA Authorization, the said policies will no longer be effective on the same date.

On September 22, 2022, the CFPB announced a new initiative to spur new opportunities by seeking information on refinances and mortgage products to promote competition and support household financial stability. The agency is asking for public input on ways to improve mortgage refinances for homeowners who would benefit from refinancing, as well as to support automatic short-term and long-term loss mitigation assistance for homeowners who experience financial disruptions. This initiative is part of CFPB's effort to promote competition and innovation in consumer finance markets.

On September 12, 2022, the FTC announced that it will conduct its first meeting with the newly formed Scams Against Older Adults Advisory Group on September 29, 2022 together with the representatives from federal and state government agencies, and from industry and consumer advocates. The advisory group was created as part of the Stop Senior Scams Act passed in March of this year.

On September 9, 2022, FinCEN issued a summary of the FDIC and FinCEN Digital Identity Tech Sprint (Tech Sprint) Demonstration Day which happened on April 4, 2022. Early in 2022, the FDIC and FinCEN announced a Tech Sprint to develop solutions for financial institutions and regulators to help measure the effectiveness of digital identity proofing—the process used to collect, validate, and verify information about a person.

On September 7, 2022, Acting Comptroller of the Currency Michael J. Hsu was invited to speak at the TCH + BPI Annual Conference where he talked about the importance of safeguarding trust in banking. According to Hsu, the OCC’s key priorities, including guarding against complacency, addressing inequality, adapting to digitalization, and managing climate-related risk, reflect what he sees as the key long-term threats to trust in banking. In his remarks, Hsu provided an update on each key priority.