Federal Regulatory Agencies
Here's a look at documents from federal regulatory agencies
Featured Stories
FCC: Chairman Carr Launches FCC's 'Space Month' Agenda
WASHINGTON, Oct. 7 -- The Federal Communications Commission issued the following statement:
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Chairman Carr Launches FCC's 'Space Month' Agenda
Marks Major Step Forward in FCC's Work to Promote U.S. Space Dominance
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EL SEGUNDO, Calif., October 6, 2025--At a ribbon cutting for a new satellite manufacturing facility in The Gundo, FCC Chairman Brendan Carr announced the launch of his "Space Month" agenda. One of the core objectives of the FCC's Build America Agenda is boosting America's space economy and, in his remarks before industry entrepreneurs, the Chairman previewed actions that
... Show Full Article
WASHINGTON, Oct. 7 -- The Federal Communications Commission issued the following statement:
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Chairman Carr Launches FCC's 'Space Month' Agenda
Marks Major Step Forward in FCC's Work to Promote U.S. Space Dominance
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EL SEGUNDO, Calif., October 6, 2025--At a ribbon cutting for a new satellite manufacturing facility in The Gundo, FCC Chairman Brendan Carr announced the launch of his "Space Month" agenda. One of the core objectives of the FCC's Build America Agenda is boosting America's space economy and, in his remarks before industry entrepreneurs, the Chairman previewed actions thatthe FCC will vote on later this month to reimagine the regulatory framework for space innovation.
Chairman Carr issued the following statement:
"With President Trump's leadership, America is entering a new Golden Age of innovation in space--one where U.S. businesses are going to dominate. That is why President Trump signed an Executive Order earlier this year to streamline regulations and foster a competitive commercial space industry.
"At the FCC, we have been doing our part through a Build America Agenda that aims to boost our country's space economy. Now, the FCC is going to add rocket fuel to those efforts. We are declaring October 2025 'Space Month' at the FCC. Big picture--our goal is to make sure that the U.S. is the friendliest regulatory environment in the world for innovators to start, to grow, and to accelerate their space operations. This will make it easier for entrepreneurs like the ones I met with today to invest and build in America."
Highlights from Chairman Carr's Space Month Agenda:
* Modernizing Space Licensing- This plan will modernize the FCC's licensing processes to match the scale and dynamism of today's space economy. It will do so by doing away with bespoke licensing processes in favor of a "licensing assembly line." This will include expediting licensing requests presumed to be in the public interest, as well as simplifying applications, establishing clear timelines, and increasing flexibility for licensed operations.
* Facilitating More Intensive Use for Upper Microwave Spectrum- Nearly a decade ago, the FCC set rules for siting Earth Stations in the Upper Microwave Flexible Use (UMFUS) bands. Since then, demand by the space sector for spectrum has skyrocketed, including for use of these bands. This proposal will look at a wide range of reforms to our Earth Station siting rules to more intensively use these spectrum bands and to streamline the Earth Station licensing process.
Additional Background Information:
Since January, the FCC has been laying the groundwork to boost America's space economy. The Commission has already taken critical actions, including launching a proceeding that looks at bolstering and safeguarding the services provided by our GPS system, opening a rulemaking that could free up more than 20,000 megahertz for satellite broadband, and initiating review of outdated technical rules holding back low earth orbit broadband. Additionally, the FCC has been clearing out satellite application backlogs, reducing processing times at a record pace, and has eliminated approval requirements for a range of routine changes that pose no risk to the public.
FULL TEXT: https://www.fcc.gov/document/build-america-unleashing-americas-space-economy
VIDEO: https://youtube.com/live/nmrvgUAQqr0
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Original text here: https://docs.fcc.gov/public/attachments/DOC-415042A1.pdf
SEC IG: Special Review - Avoidable Errors Led to the Loss of Former SEC Chair Gary Gensler's Text Messages
WASHINGTON, Oct. 5 (TNSLrpt) -- The Securities and Exchange Commission Inspector General issued the following report (No. 587) on Sept. 3, 2025, entitled "Special Review: Avoidable Errors Led to the Loss of Former SEC Chair Gary Gensler's Text Messages."
Here are excerpts:
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M E M O R A N D U M
September 3, 2025
TO: Kenneth Johnson, Chief Operating Officer
FROM: Kevin Muhlendorf, Inspector General
SUBJECT: Special Review: Avoidable Errors Led to the Loss of Former SEC Chair Gary Gensler's Text Messages, Report No. 587
Attached is the Office of Inspector General final report detailing
... Show Full Article
WASHINGTON, Oct. 5 (TNSLrpt) -- The Securities and Exchange Commission Inspector General issued the following report (No. 587) on Sept. 3, 2025, entitled "Special Review: Avoidable Errors Led to the Loss of Former SEC Chair Gary Gensler's Text Messages."
Here are excerpts:
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M E M O R A N D U M
September 3, 2025
TO: Kenneth Johnson, Chief Operating Officer
FROM: Kevin Muhlendorf, Inspector General
SUBJECT: Special Review: Avoidable Errors Led to the Loss of Former SEC Chair Gary Gensler's Text Messages, Report No. 587
Attached is the Office of Inspector General final report detailingthe results of our special review of the loss of the former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler's text messages. The report contains five recommendations that should further strengthen the SEC's management of mobile devices and federal records.
On July 23, 2025, we provided management with a draft of our report for review and comment In its August 22, 2025, response, management concurred with our recommendations and submitted planned corrective actions with timeframes. We have included management's response as Appendix II in the final report.
We appreciate the courtesies and cooperation extended to us during the review. If you have questions, please contact me; Katherine Reilly, Counsel to the Inspector General; or Rebecca Sharek, Deputy Inspector General for Audits, Evaluations, and Special Projects.
Attachment
cc: Paul S. Atkins, Chairman
Gabriel Eckstein, Chief of Staff, Office of Chairman Atkins
Mark Berman, Deputy Chief of Staff, Office of Chairman Atkins
Peter Gimbrere, Managing Executive, Office of Chairman Atkins
Hester M. Peirce, Commissioner
Benjamin Vetter, Counsel, Office of Commissioner Peirce
Caroline A. Crenshaw, Commissioner
Malgorzata Spangenberg, Counsel, Office of Commissioner Crenshaw
Mark T. Uyeda, Commissioner
Ivan V. Griswold, Counsel, Office of Commissioner Uyeda
Jeffrey Finnell, Acting General Counsel
Elizabeth McFadden, Deputy General Counsel General Law, Office of the General Counsel
Erik Hotmire, Director, Office of Public Affairs
Natalia Diez Riggin, Director, Office of Legislative and Intergovernmental Affairs
Shelly Luisi, Chief Risk Officer
Jim Lloyd, Assistant Chief Risk Officer/Audit Coordinator, Office of the Chief Risk Officer
David Bottom, Director/Chief Information Officer/Acting Chief Information Security Officer, Office of Information Technology
Bridget Hilal, Branch Chief, Cyber Risk and Governance Branch, Office of Information Technology
Olivier Girod, Director, Office of Support Operations
Raymond McInerney, Assistant Director of FOIA Services and Acting Assistant Director of Records Management Services, Office of Support Operations
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EXECUTIVE SUMMARY
WHY WE DID THIS REVIEW
Records are the foundation of open government, and electronic recordkeeping (including recordkeeping of text messages) helps ensure transparency, efficiency, and accountability.
On January 17, 2024, the U.S. Securities and Exchange Commission (SEC or agency) Office of Information Technology (OIT) reported to us that, about four months earlier, the agency erased nearly a year's worth of text messages sent and received by the then SEC Chair, Gary Gensler.
We undertook this review to determine what happened and why, how the agency responded, and any implications for federal records management.
AGENCY'S RESPONSE
Management concurred with our five recommendations and provided responsive corrective actions with estimated timeframes. The recommendations are resolved and will be closed upon verification of the actions taken. Management's complete response is reprinted in Appendix II.
WHAT WE FOUND AND RECOMMENDED
OIT's decisions and actions resulted in the inadvertent loss of text messages sent and received by Gensler between October 18, 2022, and September 6, 2023. Specifically, in August 2023 OIT implemented a poorly understood and automated policy that caused an enterprise wipe of Gensler's government-issued mobile device. The device was erroneously thought to be inactive and no longer in use, and OIT had not backed up the device for nearly a year. In an effort to recover from the enterprise wipe, OIT hastily performed a factory reset, which deleted text messages stored on the device and the device's operating system logs.
OIT's response to this incident culminated in a contractor-produced after-action report at an estimated cost of about $53,000. However, inadequacies in the report impacted its reliability and usefulness.
Furthermore, because OIT did not collect or maintain necessary log data, neither OIT, its contractor, nor we could determine why Gensler's device stopped communicating with the SEC's mobile device management system, which caused the device to appear inactive and led to the enterprise wipe. A series of additional OIT actions, deficiencies, and missed opportunities, including a lack of backups and procedures that failed to consider record retention requirements for Capstone officials (such as Gensler) exacerbated the situation and hindered the SEC's response.
Although the SEC took steps to recover or recreate the deleted text messages, the agency was unable to collect or determine the entire universe, including some federal records. Since notifying our office, the SEC has disabled text messaging agencywide (with some exceptions), notified the National Archives and Records Administration in June 2025 of the lost records, and taken additional steps to back up Capstone officials' records and data, among other actions. However, the loss of Gensler's text messages may impact the SEC's response to certain Freedom of Information Act requests.
While some matters we identified did not warrant recommendations, we are recommending specific actions to further strengthen the SEC's management of mobile devices and federal records. These actions include updating or developing plans, policies, and procedures related to change management, Capstone officials' devices, and the system used to manage mobile devices, among other topics.
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View full report at https://www.sec.gov/files/sec-oig-review-587-2025.pdf
SEC IG: Observations on the SEC's Rulemaking Process
WASHINGTON, Oct. 5 (TNSLrpt) -- The Securities and Exchange Commission Inspector General issued the following report (No. 588) on Sept. 29, 2025, entitled "Observations on the SEC's Rulemaking Process."
Here are excerpts:
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M E M O R A N D U M
September 29, 2025
TO: Paul S. Atkins, Chairman
FROM: Kevin Muhlendorf, Inspector General
SUBJECT: Observations on the SEC's Rulemaking Process, Report No. 588
Attached is the Office of Inspector General final report detailing the results of our audit of aspects of the U.S. Securities and Exchange Commission's rulemaking process and related
... Show Full Article
WASHINGTON, Oct. 5 (TNSLrpt) -- The Securities and Exchange Commission Inspector General issued the following report (No. 588) on Sept. 29, 2025, entitled "Observations on the SEC's Rulemaking Process."
Here are excerpts:
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M E M O R A N D U M
September 29, 2025
TO: Paul S. Atkins, Chairman
FROM: Kevin Muhlendorf, Inspector General
SUBJECT: Observations on the SEC's Rulemaking Process, Report No. 588
Attached is the Office of Inspector General final report detailing the results of our audit of aspects of the U.S. Securities and Exchange Commission's rulemaking process and relatedinternal controls. The report contains no recommendations for corrective actions.
On August 19, 2025, we provided management with a draft of our report for review and comment. On September 19, 2025, the SEC stated it would not be submitting a formal written response.
We appreciate the courtesies and cooperation extended to us during the audit. If you have questions, please contact me or Rebecca Sharek, Deputy Inspector General for Audits, Evaluations, and Special Projects.
Attachment
cc: Gabriel Eckstein, Chief of Staff, Office of Chairman Atkins
Mark Berman, Deputy Chief of Staff, Office of Chairman Atkins
Peter Gimbrere, Managing Executive, Office of Chairman Atkins
Hester M. Peirce, Commissioner
Benjamin Vetter, Counsel, Office of Commissioner Peirce
Caroline A. Crenshaw, Commissioner
Malgorzata Spangenberg, Counsel, Office of Commissioner Crenshaw
Mark T. Uyeda, Commissioner
Ivan V. Griswold, Counsel, Office of Commissioner Uyeda
Jeffrey Finnell, Acting General Counsel
Elizabeth McFadden, Deputy General Counsel for General Law, Office of the General Counsel
Tiffany Moseley, Senior Special Counsel, Office of the General Counsel
Erik Hotmire, Director, Office of Public Affairs
Florence Harmon, Deputy Director, Office of Public Affairs
Natalia Diez Riggin, Director, Office of Legislative and Intergovernmental Affairs
Kenneth Johnson, Chief Operating Officer
Shelly Luisi, Chief Risk Officer
Jim Lloyd, Assistant Chief Risk Officer/Audit Coordinator, Office of the Chief Risk
Matthew Keeler, Financial and Operational Risk Analyst, Office of the Chief Risk Officer
Mark Reinhold, Chief Human Capital Officer, Office of Human Resources
Heather Coats, Management and Program Analyst, Office of Human Resources
Jed Hickman, Acting Director/Chief Information Officer, Office of Information Technology
Cristina Martin Firvida, Director/Investor Advocate
Cicely LaMothe, Acting Director/Deputy Director of Disclosure Operations, Division of Corporation Finance
Sebastian Gomez Abero, Acting Deputy Director, Legal and Policy Program Director, Division of Corporation Finance
Brian Daly, Director, Division of Investment Management
Sarah ten Siethoff, Associate Director, Rulemaking Office, Division of Investment Management
Jamie Selway, Director, Division of Trading and Markets
Andrea Orr, Associate Director, Legal Review Office, Division of Trading and Markets
Robert Fisher, Acting Director and Chief Economist, Division of Economic and Risk Analysis
Richard Oliver, Deputy Director and Deputy Chief Economist, Economic Analysis Offices, Division of Economic and Risk Analysis
Lauren Moore, Chief Counsel, Division of Economic and Risk Analysis Vanessa Countryman, Secretary
J. Matt DeLesDernier, Deputy Secretary, Office of the Secretary
Kurt Hohl, Chief Accountant
Duc Dang, Acting Chief Counsel, Office of the Chief Accountant
K. Scott Davey, Acting Director, Office of Credit Ratings
Patrick Boyle, Assistant Director, Office of Legal and Policy, Office of Credit Ratings
Margaret Ryan, Director, Division of Enforcement
Samuel Waldon, Chief Counsel, Office of Chief Counsel, Division of Enforcement
Stacey Bowers, Director, Office of the Advocate for Small Business Capital Formation
Jenny Riegel, Deputy Director for Policy, Office of the Advocate for Small Business Capital Formation
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EXECUTIVE SUMMARY
WHY WE DID THIS AUDIT
The U.S. Securities and Exchange Commission (SEC, Agency, or Commission) regulates the securities markets and, like other federal agencies, must generally notify the public of its proposed rules, assess the economic implications of its rulemaking, and consider comments received. In October 2022, we reported an overall increase in SEC rulemaking activities, and we identified associated risks and challenges.
We conducted this audit to assess aspects of the SEC's rulemaking process and related internal controls. Specifically, we reviewed the SEC's processes for (1) giving interested persons an opportunity to participate in rulemaking; and (2) assessing and documenting the impact(s) of proposed rules on efficiency, competition, and capital formation. We also reviewed Agency actions to ensure staff with sufficient and appropriate skills, experience, and expertise are involved in formulating and reviewing proposed rules.
AGENCY'S RESPONSE
On August 19, 2025, we provided SEC management with a draft of this report for review and comment. On September 19, 2025, management told us that the Agency would not be submitting a formal written response.
This report contains non-public information about the SEC's information technology program. We redacted the non-public information to create this public version
WHAT WE FOUND
We reviewed SEC rulemaking activities from January 2018 through December 2022, assessed a sample of 24 rules proposed and/or finalized during that time, and surveyed 647 knowledgeable Agency managers and staff and found that, overall, the SEC defined processes for (1) giving interested persons an opportunity to participate in rulemaking; (2) assessing and documenting the impact(s) of proposed rules on efficiency, competition, and capital formation; and (3) ensuring that staff with sufficient and appropriate skills, experience, and expertise are involved in formulating and reviewing proposed rules. Nonetheless, information we gathered warrants management's attention as the SEC continues to assess newly issued federal directives and their impact on the rulemaking of historically independent regulatory agencies, such as the SEC.
Specifically, we determined that the SEC provided a comment period ranging from 30 to 92 days for rules issued during the period we reviewed. And, in accordance with SEC internal guidance, SEC rulemaking divisions consistently collaborated with the Agency's Division of Economic and Risk Analysis and the Office of the General Counsel. However, other SEC divisions and offices were not always involved in rulemakings within their subject matter expertise.
Additionally, for each of the 24 rules in our sample, the SEC assessed the impact(s) on efficiency, competition, and capital formation. Nonetheless, some SEC staff expressed concerns about limited data and time to perform economic analyses.
Finally, before December 2024, the SEC had not performed an Agencywide assessment of the knowledge, skills, and competencies of its rulemaking staff. In addition, non-federal personnel who worked at the SEC under Intergovernmental Personnel Act (IPA) agreements, and who were involved in rulemaking, performed unauthorized supervisory functions. During our audit, the SEC finalized a rulemaking competency study and corresponding dashboard and, as of March 2025, the Agency no longer had IPA personnel onboard.
We also reviewed two matters that were not directly related to our audit objectives but that we discussed with Agency officials. These matters involved technological errors that impacted the SEC's receipt of public comments, and Agency personnel releasing embargoed rulemaking information without authorization from the Commission.
The SEC took actions during our audit that addressed some of our concerns. More changes may come from the newly issued federal directives discussed in this report. Although we are not making formal recommendations at this time, we encourage management to consider whether additional actions are required to address our observations.
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View full report at https://www.sec.gov/files/sec-oig-aud-report-588.pdf
SEC IG: Improved Documentation & Guidance Can Help Strengthen Corporation Finance's Disclosure Review Program
WASHINGTON, Oct. 5 (TNSLrpt) -- The Securities and Exchange Commission Inspector General issued the following report (No. 586) on Aug. 26, 2025, entitled "Improved Documentation and Guidance Can Help Strengthen Corporation Finance's Disclosure Review Program."
Here are excerpts:
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M E M O R A N D U M
August 26, 2025
TO: Cicely LaMothe, Acting Director, Division of Corporation Finance
FROM: Kevin Muhlendorf, Inspector General
SUBJECT: Improved Documentation and Guidance Can Help Strengthen Corporation Finance's Disclosure Review Program, Report No. 586
Attached is the Office of Inspector
... Show Full Article
WASHINGTON, Oct. 5 (TNSLrpt) -- The Securities and Exchange Commission Inspector General issued the following report (No. 586) on Aug. 26, 2025, entitled "Improved Documentation and Guidance Can Help Strengthen Corporation Finance's Disclosure Review Program."
Here are excerpts:
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M E M O R A N D U M
August 26, 2025
TO: Cicely LaMothe, Acting Director, Division of Corporation Finance
FROM: Kevin Muhlendorf, Inspector General
SUBJECT: Improved Documentation and Guidance Can Help Strengthen Corporation Finance's Disclosure Review Program, Report No. 586
Attached is the Office of InspectorGeneral final report detailing the results of our audit of the U.S. Securities and Exchange Commission's Division of Corporation Finance's Disclosure Review Program. The report contains three recommendations that should help the Disclosure Review Program support its risk-based decisions and face uncertain challenges.
On July 17, 2025, we provided management with a draft of our report for review and comment. In its August 15, 2025, response, management concurred with our recommendations and included planned corrective actions with timeframes. We have included management's response as Appendix II in the final report.
We appreciate the courtesies and cooperation extended to us during the audit. If you have questions, please contact me or Rebecca Sharek, Deputy Inspector General for Audits, Evaluations, and Special Projects.
Attachment
cc:
Paul S. Atkins, Chairman
Gabriel Eckstein, Chief of Staff, Office of Chairman Atkins
Mark Berman, Deputy Chief of Staff, Office of Chairman Atkins
Peter Gimbrere, Managing Executive, Office of Chairman Atkins
Hester M. Peirce, Commissioner
Benjamin Vetter, Counsel, Office of Commissioner Peirce
Caroline A. Crenshaw, Commissioner
Malgorzata Spangenberg, Counsel, Office of Commissioner Crenshaw
Mark T. Uyeda, Commissioner
Ivan V. Griswold, Counsel, Office of Commissioner Uyeda
Jeffrey Finnell, Acting General Counsel
Elizabeth McFadden, Deputy General Counsel General Law, Office of the General Counsel
Erik Hotmire, Director, Office of Public Affairs
Natalia Diez Riggin, Director, Office of Legislative and Intergovernmental Affairs
Kenneth Johnson, Chief Operating Officer
Shelly Luisi, Chief Risk Officer
Jim Lloyd, Assistant Chief Risk Officer/Audit Coordinator, Office of the Chief Risk Officer
Duc Dang, Associate Director, Division of Corporation Finance
Yolanda Trotter, Deputy Chief Risk Officer, Division of Corporation Finance
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EXECUTIVE SUMMARY
WHY WE DID THIS AUDIT
Companies that offer securities, such as stocks or bonds for public sale, must truthfully disclose information about those securities and associated risks. To protect investors and facilitate capital formation, the Disclosure Review Program (DRP) in the U.S. Securities and Exchange Commission's (SEC) Division of Corporation Finance selectively reviews the disclosures - typically the annual reports - of more than 7,400 companies required to regularly file financial reports with the SEC. The DRP reviews each company's annual report at least once every three years or more often based on risk factors. The DRP also selects transactional filings for review.
We conducted this audit to assess whether the DRP (1) concentrated its resources on critical disclosures by implementing a risk-based process for selecting and reviewing filers' periodic reports and transactional filings, and (2) met its statutory requirements for reviewing filers' financial statements within the most recent three-year period.
AGENCY'S RESPONSE
Management concurred with our three recommendations and provided responsive corrective actions with estimated timeframes. The recommendations are resolved and will be closed upon verification of the actions taken. Management's complete response is reprinted in Appendix II.
WHAT WE FOUND AND RECOMMENDED
Although the DRP has a risk-based process for selecting and reviewing filings and met its statutory requirement for reviewing filers' financial statements during the period we reviewed, documentation of and guidance on the annual report selection and scoping processes were lacking. Documenting how and why the DRP selects and scopes its reviews is important for investor protection because it ensures that the DRP appropriately considers and incorporates risk into its decision-making by providing transparency that would contribute to effective oversight. Federal internal control standards also support the need for and value of documentation. Yet, in fiscal years 2023 and 2024, it was often unclear why DRP staff selected companies for elective annual report reviews and how staff decided to scope both required and elective reviews. Staff documented information inconsistently due to a lack of comprehensive guidance in selecting annual reports for elective review and documenting the scope for both required and elective reviews. Additionally, internal guidance (which has been in draft form since May 2017) did not address five of the six risk factors the SEC must consider when selecting companies to review. The guidance includes the DRP's interpretation of the minimum review period, which should also be finalized.
Changes in the DRP workforce may lead to a loss of institutional knowledge, and potential new rules related to crypto assets and other issues may create additional disclosure requirements warranting the DRP's attention. Further, the current regulatory environment may increase new issuer transactional filings. Improved documentation and guidance related to key DRP selection and scoping decisions can help management face these challenges and ensure the DRP uses a risk-based process to make the best use of its limited resources. Accordingly, we recommended that DRP management:
* Require that important information about how annual reports are selected for elective review and scoped, including any relevant risk factors, be documented, among other actions.
* Coordinate with the SEC's Office of the General Counsel to finalize Sarbanes-Oxley Act of 2002 section 408 guidance, including a description of all six factors to be considered and an interpretation of the minimum review period mandate.
* Consider developing a plan that prioritizes DRP goals and requirements in the event of significant staffing decreases and/or significant workload increases.
We also inquired about automating aspects of the DRP. While we are not making formal recommendations related to this topic, we encourage management to continue considering opportunities and to leverage available resources to implement automation where feasible and advisable.
Finally, we identified a potential opportunity to consolidate the SEC's disclosure review information technology systems. Because the matter was outside the scope and objectives of this audit, we reported it separately.
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View full report at https://www.sec.gov/files/sec-oig-aud-report-586.pdf
FCC to Vote on IPCS Reform to Mitigate Safety and Security Risks
WASHINGTON, Oct. 4 -- The Federal Communications Commission issued the following news release on Oct. 3, 2025:
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FCC to Vote on IPCS Reform to Mitigate Safety and Security Risks
Chairman Carr Circulates Proposal to Set Interim Rate Caps, Review IPCS Framework
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FCC Chairman Brendan Carr today circulated an item that would revisit the framework established by the FCC's 2024 Incarcerated People's Communications Services (IPCS) Report and Order. Today's item aims to ensure that the FCC is achieving the statutory goals Congress codified in the Martha Wright-Reed Act, while also addressing
... Show Full Article
WASHINGTON, Oct. 4 -- The Federal Communications Commission issued the following news release on Oct. 3, 2025:
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FCC to Vote on IPCS Reform to Mitigate Safety and Security Risks
Chairman Carr Circulates Proposal to Set Interim Rate Caps, Review IPCS Framework
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FCC Chairman Brendan Carr today circulated an item that would revisit the framework established by the FCC's 2024 Incarcerated People's Communications Services (IPCS) Report and Order. Today's item aims to ensure that the FCC is achieving the statutory goals Congress codified in the Martha Wright-Reed Act, while also addressingthe negative, unintended consequences that have flowed from the prior FCC's approach--namely, unacceptable risks to safety and security as well as reductions in the availability of calling services.
Specifically, the item would set, on an interim basis, rate caps for IPCS that allow for the full inclusion of safety and security costs to correctional facilities and IPCS providers, consistent with the statute. The item would also seek comment on other changes to the IPCS framework to ensure the continued availability of IPCS for incarcerated people at rates that are just and reasonable as required by the Martha Wright-Reed Act.
Chairman Carr issued the following statement:
"For years, the FCC has been trying to adopt rates for inmate calling services that are at once just and reasonable for consumers and fair for providers and law enforcement agencies. After all, when it comes to inmate calling services, public safety officials must account for unique safety and security risks as well as their attendant costs. The FCC has yet to find a path forward that is both lawful and sustainable over the long run. The FCC's latest 2024 effort at rate setting is one such example. In aiming to significantly drop rates for consumers, the agency's decision generated negative, unintended consequences.
"Dropping the rate caps too low made the cost of doing business too high for service providers and law enforcement alike, risking public safety and requiring calling services for inmates to be reduced or cut--the opposite of what the FCC intended. Today's proposal aims to address these and other implementation challenges, helping to ensure that communications are more readily available and that the interim rate caps account for the costs of all safety and security measures that are necessary to providing inmate calling services, including the monitoring and recording of calls.
"This action is consistent with our statutory mandate and the policy cuts Congress made in the Martha Wright-Reed Act. Indeed, the proposal strikes the right balance between reasonable rates and fair compensation, all while supporting the law enforcement community's efforts to provide systems that work for our prisons and jails. Our goal here is to find a rate structure that will work for everyone for the long term."
Jonathan Thompson, Executive Director and CEO of the National Sheriffs' Association, issued the following statement:
"The National Sheriffs' Association commends Chairman Carr and the Commission for taking action to address the cost recovery challenges facing jails and sheriffs across the country. This proceeding represents an important step toward ensuring that essential safety and security measures can be maintained while preserving access to communications services that support successful reintegration and reduce recidivism. NSA looks forward to working with the Commission to develop practical solutions that protect both public safety and family connections."
Additional Background:
The proposed Report and Order, Order on Reconsideration, and Further Notice of Proposed Rulemaking will be voted on by the Commission at its October Open Meeting. This action will mitigate the demonstrated negative, unintended consequences of the FCC's 2024 IPCS rules that expanded the Commission's regulation of IPCS in response to the Martha Wright-Reed Just and Reasonable Communications Act of 2022.
Specifically, this action would supersede the Commission's previous rate cap calculations by using only billed minutes to determine the Commission's rate caps, incorporating all of the safety and security measure expenses that IPCS providers reported incurring, and creating an additional rate cap tier for extremely small jails. It would also create a separate uniform $0.02 rate additive above the revised caps to ensure recovery of correctional facilities' costs of administering service. Additionally, it would set a new uniform compliance date for providers, including for the Commission's ban on site commissions, while seeking further comment on these issues in the FNPRM portion of the item.
In July, the FCC's Wireline Competition Order temporarily waived the deadlines for complying with the rate cap, site commission, and per-minute pricing rules adopted in the 2024 Order. This effort allowed IPCS providers and facilities time to address implementation challenges and preserved the status quo while the Commission assesses potential changes to its IPCS rules based on the record that has developed.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-415035A1.pdf
FDIC Issues List of Banks Examined for CRA Compliance
WASHINGTON, Oct. 3 -- The Federal Deposit Insurance Corporation issued the following news release:
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FDIC Issues List of Banks Examined for CRA Compliance
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The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in July 2025.
The CRA is a 1977 law that requires the FDIC to assess a bank's record of meeting the credit needs of its entire community, including those of low- and moderate-income neighborhoods,
... Show Full Article
WASHINGTON, Oct. 3 -- The Federal Deposit Insurance Corporation issued the following news release:
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FDIC Issues List of Banks Examined for CRA Compliance
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The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in July 2025.
The CRA is a 1977 law that requires the FDIC to assess a bank's record of meeting the credit needs of its entire community, including those of low- and moderate-income neighborhoods,consistent with safe and sound operations. As part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), Congress mandated the public disclosure of an evaluation and rating for each bank or thrift that undergoes a CRA examination on or after July 1, 1990.
You may obtain a consolidated list of all state nonmember banks whose evaluations have been made publicly available since July 1, 1990, including the rating for each bank, or obtain a hard copy from FDIC's Public Information Center, 3501 Fairfax Drive, Room E-1002, Arlington, VA 22226 ( 877-275-3342 or 703-562-2200 ).
A copy of an individual bank's CRA evaluation is available directly from the bank, which is required by law to make the material available upon request, or from the FDIC's Public Information Center.
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Attachment(s)
October 2025 List of Banks Examined for CRA Compliance (https://www.fdic.gov/banker-resource-center/monthly-list-banks-examined-cra-compliance-october-2025)
Monthly List of Banks Examined for CRA Compliance (https://www.fdic.gov/banker-resource-center/monthly-list-banks-examined-cra-compliance-52)
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Original text here: https://www.fdic.gov/news/press-releases/2025/fdic-issues-list-banks-examined-cra-compliance-8
1st Choice Credit Union Merges into Hope Federal Credit Union
ALEXANDRIA, Virginia, Oct. 2 -- The National Credit Union Administration issued the following news release:
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1st Choice Credit Union Merges into Hope Federal Credit Union
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Member Deposits Remain Protected Up to $250,000; Member Services Uninterrupted
ALEXANDRIA, VA (Oct. 2, 2025) - The National Credit Union Administration (NCUA) today announced that 1st Choice Credit Union of Atlanta, Georgia, has merged into Hope Federal Credit Union of Jackson, Mississippi, effective immediately.
The new Hope Federal Credit Union members should experience no interruption in services, and member
... Show Full Article
ALEXANDRIA, Virginia, Oct. 2 -- The National Credit Union Administration issued the following news release:
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1st Choice Credit Union Merges into Hope Federal Credit Union
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Member Deposits Remain Protected Up to $250,000; Member Services Uninterrupted
ALEXANDRIA, VA (Oct. 2, 2025) - The National Credit Union Administration (NCUA) today announced that 1st Choice Credit Union of Atlanta, Georgia, has merged into Hope Federal Credit Union of Jackson, Mississippi, effective immediately.
The new Hope Federal Credit Union members should experience no interruption in services, and memberdeposits remain protected by the National Credit Union Share Insurance Fund. Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000, and a member's interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States. Members may visit the Share Insurance section of NCUA's MyCreditUnion.gov (Opens new window) website at any time for more information about their insurance coverage.
Members new to Hope Federal Credit Union with questions about their accounts may call the credit union at 601.944.1100 or visit This is an external link to a website belonging to another federal agency, private organization, or commercial entity. Hope Federal Credit Union's website (Opens new window) for more information about the credit union, its services, and branches. Members may continue to transact business at the former 1st Choice Credit Union locations or call 404.832.5800.
In consultation with the Georgia Department of Banking and Finance, the NCUA placed 1st Choice Credit Union into conservatorship on June 14, 2024, and appointed itself as conservator. The NCUA worked to address issues affecting the credit union's safety and soundness and determined that merging 1st Choice Credit Union into Hope Federal Credit Union was in the best interests of the members.
At the time of the merger, 1st Choice Credit Union was a state-chartered credit union with 7,637 members and assets of $31 million, based on the credit union's most recent Call Report. Chartered in 1991, 1st Choice Credit Union was a low-income designated and minority deposit institution and served employees, retirees, and former employees of various health systems in Atlanta, Ga., Atlanta Life Insurance Company, South Fulton Community Development Corporation, and members of the Getting Ahead Association.
Before the merger, Hope Federal Credit Union served 40,628 members and had assets of $739 million, based on the credit union's most recent Call Report.
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Original text here: https://ncua.gov/newsroom/press-release/2025/1st-choice-credit-union-merges-hope-federal-credit-union
