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OFAC has designated seven individuals and identified as blocked two entities of the North Korean regime in response to the regime’s ongoing and serious human rights abuses and censorship activities. Treasury is taking this action in conjunction with the State Department’s “Report on Serious Human Rights Abuses or Censorship in North Korea,” which is being submitted in accordance with the North Korea Sanctions and Policy Enhancement Act of 2016. As a result of these actions, any property or interest in property of those designated by OFAC within U.S. jurisdiction is frozen. Additionally, transactions by U.S. persons involving the designated persons are generally prohibited. The identifications of two entities as blocked were issued pursuant to E.O. 13722, which, among others, blocks the property and interests in property of the Government of North Korea and the Workers’ Party of Korea, including those two entities. See our OFAC Update for additional information.

The CFPB has posted a blog article encouraging consumers who are considering buying a home to first check their credit history and scores. A link to a downloadable credit report checklist is also provided.

A Kansas man and his companies have been charged by the Federal Trade Commission with selling portfolios of fake payday loan debts that debt collectors used to get people to pay on debts they did not owe. The Commission has filed a complaint and a federal court has halted the operation pending a ruling on the complaint.

The Federal Reserve System has released November 2016 G.19 consumer credit data. Consumer credit increased at a seasonally adjusted annual rate of 8 percent. Revolving credit increased at an annual rate of 13-1/2 percent, while nonrevolving credit increased at an annual rate of 6 percent.

HUD Secretary Castro has announced that, as the nation’s housing market continues to improve, the Federal Housing Administration (FHA) will reduce the annual premiums most borrowers will pay by a quarter of a percent. FHA’s new premium rates are projected to save new FHA-insured homeowners an average of $500 this year. Mortgage Letter 2017-1, containing a schedule of the new premium rates, was also released.

The Office of the Comptroller of the Currency has issued HSBC Bank USA, N.A., McLean, Virginia, a consent order for a civil money penalty of $32.5 million for failing to make timely corrections to deficiencies identified in a 2011 consent order relating to the bank's mortgage servicing practices, and for failing to file payment change notices in compliance with bankruptcy rules. For additional information, see "OCC levies $32.5M CMP on HSBC Bank USA, N.A.," in our Penalties pages.

OFAC has posted an SDN List Update adding five individuals under Magnitsky Sanctions and two under Counter Terrorism Sanctions. For additional information, see our OFAC Update.

Treasury's Office of Foreign Assets Control has updated its FAQs regarding Cuba to add five new FAQs regarding vessel transactions with Cuba. OFAC also updated its Specially Designated Nationals List to remove 28 CUBA-designated listings. For identification information on the individuals and entities removed, see OFAC's SDN List Update.

HUD and the Census Bureau have announced the release of the results of the 2015 American Housing Survey focusing on 25 metropolitan areas across the country. The data released today includes detailed information on everything from monthly housing costs, hunger, and neighborhood characteristics including crime and the prevalence of rodents and cockroaches. The national report, released in November 2016, focused on nationwide data.

HUD has announced that it has charged Bank of America, N.A. and two of its employees with violating the Fair Housing Act by discriminating against prospective Hispanic mortgage borrowers in Charleston, South Carolina. The National Fair Housing Alliance (NFHA) filed a complaint with HUD claiming the bank discriminated against prospective borrowers who are Hispanic by failing to provide them with information about loan products or by offering them loan products with less attractive terms, as compared to prospective borrowers who are not Hispanic. Prior to filing its complaint, NFHA conducted a series of tests comparing the treatment of Hispanic and non-Hispanic testers who posed as prospective borrowers at a Bank of America branch in Charleston, South Carolina. HUD's charge alleges that these tests showed that the bank discriminated because of national origin by treating the Hispanic testers less favorably than the non-Hispanic testers.