The terms of this Order are effective beginning May 5, 2021 and ending October 31, 2021. GTOs continue to provide valuable data on the purchase of residential real estate by persons possibly involved in various illicit enterprises. Renewing the GTOs will further assist in tracking illicit funds and other criminal or illicit activity, as well as inform FinCEN’s future regulatory efforts in this sector. The GTOs cover certain counties within the following major U.S. metropolitan areas: Boston; Chicago; Dallas- Fort Worth; Honolulu; Las Vegas; Los Angeles; Miami; New York City; San Antonio; San Diego; San Francisco; and Seattle. FinCEN appreciates the continued assistance and cooperation of the title insurance companies and the American Land Title Association in protecting the real estate markets from abuse by illicit actors. Any questions about the Orders should be directed to FinCEN’s Regulatory Support Section at FRC@FinCEN.gov. A copy of the GTO is available here. Frequently asked questions regarding these GTOs are available here.

#### Source link.

##### Comment: Note that the targeting order applies to title insurance.

##### CSBS BLOG - Climate Risk Management: The Latest Information (04.22.2021)

Recently, federal regulatory agency leaders have taken steps towards understanding the financial risks associated with climate risk. The Federal Reserve Board announced the creation of two committees tasked with identifying the micro and macro prudential risks of climate risk and developing a program to mitigate these risks. Treasury Secretary Janet Yellen stated on multiple occasions that climate risk management will constitute a major area of focus for the Financial Stability Oversight Council. Both the Federal Housing Finance Agency and the Securities and Exchange Commission released requests for input on the climate risks associated with the housing sector and purpose of climate risk disclosures, respectively. While still in the information gathering stage, the federal agencies clearly plan to make climate risk management a top priority for this administration. Following the recent actions of federal regulatory agencies and inquiries from various members following the CSBS Legislative Fly-In panel with Sarah Bloom Raskin, CSBS thought it prudent to gather the latest information and data related to climate risk management. The following reports, guidance, and speeches serve as a primer for understanding actions taken by a wide array of stakeholders in the financial services sector.

- • Core Logic Climate Change Catastrophe Report • Core Logic Climate Change Catastrophe Report
- • Analytics: An Empirical Assessment of the Financial Impacts of Climate-related Hazard Events • Analytics: An Empirical Assessment of the Financial Impacts of Climate-related Hazard Events
- • Federal Reserve Board’s Financial Stability Report: The Implications of Climate Change for Financial • Federal Reserve Board’s Financial Stability Report: The Implications of Climate Change for Financial Stability
- • Reserve Bank of San Francisco Economic Letter: Climate Change is a Source of Financial Risk • Reserve Bank of San Francisco Economic Letter: Climate Change is a Source of Financial Risk
- • Lael Brainard Speech on Financial Stability Implications of Climate Change from CERES 2021 • Lael Brainard Speech on Financial Stability Implications of Climate Change from CERES 2021 Conference

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