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While automated tools to assess home values are becoming more common, federally regulated banks and credit unions still obtain appraisals from state-credentialed appraisers for most home loans to protect themselves and borrowers.
Some criminal groups use a process called trade-based money laundering to hide their illicit funds. These schemes can include things like falsely describing goods and services in trade transactions.
Schemes can involve many types of illicit activity that cut across multiple federal agencies' roles.
The Treasury Department's Troubled Asset Relief Program was a response to the 2007-2009 financial crisis. Treasury used TARP to distribute hundreds of billions of dollars in assistance to financial institutions and others.
TARP had 2 investment programs left as of Sept. 30, 2021.
The Federal Housing Finance Agency's goal is to keep the housing finance system healthy by supervising and regulating Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System.
The agency spent $317.6 million in FY 2021 to do its work.
Treasury's Troubled Asset Relief Program was originally authorized to spend $700 billion to help prevent the U.S. financial system's collapse in 2008. As of September 30, 2021, TARP had spent $443.4 billion.
The federal response to COVID-19 led to unprecedented spending. Treasury quickly sold securities to raise $3.8 trillion. Meanwhile, Treasury increased its cash-on-hand to over $1 trillion to help deal with the uncertainty around federal pandemic-related spending.
Cyber insurance can help offset the costs of responding to and recovering from cyberattacks. The growing frequency and severity of cyberattacks have led more insurance clients to opt for cyber coverage—up from 26% in 2016 to 47% in 2020.