Treasury News

Treasury

Treasury announces additional funding support for tribal nations at annual summit

Today, the U.S. Department of the Treasury revealed additional support for Tribal Nations during the Native Community Development Financial Institution (CDFI) Network’s 5th Annual Policy and Capacity Building Summit.
Treasury

Treasury issues advisory to prevent cyber fraud during holiday shopping

The U.S. Department of the Treasury's Office of Cybersecurity and Critical Infrastructure Protection (OCCIP) has issued a consumer advisory to help individuals avoid cyber fraud during the holiday shopping season.
Treasury

U.S Treasury announces next round of SIPPRA program awards totaling nearly $47 Million

The U.S. Department of the Treasury has announced the latest round of awards from the Social Impact Partnerships to Pay for Results Act (SIPPRA) program, with six recipients eligible to receive a total of $46.9 million in payments if they meet...
Treasury

Yellen discusses economic ties with South Korean Deputy Prime Minister

U.S. Treasury Secretary Janet L. Yellen held a virtual meeting with Choi Sangmok, the Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea.
Treasury

EU-U.S. joint financial forum focuses on market stability and digital finance

The EU-U.S. Joint Financial Regulatory Forum convened on December 4-5, 2024, to discuss mutual interests within the financial regulatory dialogue.
Treasury

U.S. Treasury announces $20 billion loan disbursement to aid Ukraine

The United States Department of the Treasury has announced a $20 billion disbursement to support Ukraine, as part of the $50 billion G7 Extraordinary Revenue Acceleration (ERA) Loans initiative.
Treasury

U.S. Treasury announces new sanctions on International Human Rights Day

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced new designations in recognition of International Human Rights Day, observed annually on December 10.
Treasury

U.S. Treasury sanctions Zimbabwe-based global gold smuggling network

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions against 28 individuals and businesses involved in a global gold smuggling and money laundering network based in Zimbabwe.
Treasury

Financial Stability Oversight Council discusses hedge funds and life insurance sectors

U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) on December 6, 2024, at the U.S. Department of the Treasury.
Treasury

Treasury Secretary Yellen highlights economic resilience at Financial Stability Oversight Council meeting

This past year has been notable for the U.S. economy, marked by a decrease in inflation, low unemployment rates, and robust economic growth.
Treasury

Treasury targets TGR Group for aiding Russian elites in sanction evasion

The Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on five individuals and four entities associated with the TGR Group, an international network accused of facilitating sanctions evasion for Russian elites.
Treasury

Treasury releases final rules on investment tax credit to boost clean energy projects

The U.S. Department of the Treasury, in conjunction with the IRS, has released the final rules for the Section 48 Energy Credit, commonly known as the Investment Tax Credit (ITC).
Treasury

U.S. imposes sanctions on entities involved in Iranian oil transport

The United States has announced new sanctions targeting 35 entities and vessels involved in transporting illicit Iranian petroleum to international markets.
Treasury

Treasury sanctions Uzbek officials over alleged human rights abuses

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions against three former officials from Uzbekistan on charges of human trafficking and gender-based violence.
Treasury

U.S. supports Israel's extension of bank indemnification

The United States has expressed approval of Israel's decision to extend indemnification for Israeli banks by one year.
Treasury

U.S. Treasury targets international network financing Hamas

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has taken action against a significant international fundraising network supporting Hamas. The designations include three individuals, a sham charity, and a financial institution in Gaza controlled by Hamas. Additionally, a longstanding supporter of Hamas and nine associated businesses have been targeted.
Treasury

Treasury proposes tax exemption rules for tribally owned entities

The U.S. Department of the Treasury and the IRS have issued a Notice of Proposed Rulemaking (NPRM) clarifying the tax status of wholly-owned Tribal entities. According to this proposal, these entities, which are chartered or organized by one or more Tribes, will share the same federal tax status as their owning Tribes, making them exempt from federal income tax.
Treasury

Treasury Deputy Secretary addresses economic recovery at Wisconsin conference

Deputy Secretary of the Treasury Wally Adeyemo addressed attendees at the Wisconsin Building Trades Conference in Milwaukee, reflecting on the impact of recent legislative measures and the administration's commitment to economic recovery and growth. Adeyemo highlighted the challenges faced during the COVID-19 pandemic, noting that unemployment rates soared to nearly 15 percent nationwide, with even higher figures in Milwaukee.
Treasury

IRS expands Direct File eligibility to over 30 million taxpayers across 24 states

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have announced that over 30 million taxpayers in 24 states will be eligible to use Direct File during the 2025 filing season. This initiative, facilitated by the Biden-Harris Administration’s Inflation Reduction Act, allows eligible Americans to file their taxes online for free directly with the IRS.
Treasury

Treasury awards $9M for New York's semiconductor industry growth

The U.S. Department of the Treasury has awarded $9.4 million to Empire State Development in New York to bolster small business growth in the semiconductor and microelectronics sectors. This funding, part of the Biden-Harris Administration’s State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP), is complemented by $1.5 million in matching funds from Empire State Development.
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