News and reports from the Department of the Treasury.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated and identified as blocked property a dozen individuals and vessels involved in financing the Houthis' regional activities through Sa’id al-Jamal's network. The designations include Indonesia-based Malaysian and Singaporean national Mohammad Roslan Bin Ahmad, and China-based Chinese national Zhuang Liang, both of whom facilitated illicit shipments and engaged in money laundering for the network.

Under Secretary for Terrorism and Financial Intelligence Brian Nelson delivered remarks at a beneficial ownership event in Columbus, Ohio, hosted by Representative Joyce Beatty. Nelson thanked Beatty for her efforts and acknowledged her comments during Secretary Yellen’s recent hearing.

WASHINGTON – The U.S. Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) have released a set of resources aimed at guiding financial services institutions on secure cloud adoption practices. This initiative results from a year-long collaboration between the Financial and Banking Information Infrastructure Committee (FBIIC) and the FSSCC.

Yesterday, Secretary of the Treasury Janet L. Yellen and Secretary of Energy Jennifer Granholm hosted a working dinner with CEOs of leading companies in the clean energy economy. During the meeting, Secretary Yellen, Secretary Granholm, and CEOs discussed the impact of President Biden’s Inflation Reduction Act, described as "the most significant climate law in history," which is driving private sector investments in American clean energy and creating new jobs across the nation.

The U.S. Department of the Treasury hosted a Transition Finance Dialogue with representatives from various financial institutions, civil society organizations, and other stakeholders to discuss how financial institutions can support or enable the net-zero transition. Secretary of the Treasury Janet L. Yellen and Ethan Zindler, Climate Counselor to the Secretary, emphasized Treasury’s recent efforts to encourage financial institutions and market participants to seize opportunities created by the shift to clean energy.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned three Mexican accountants and four Mexican companies linked to timeshare fraud led by the Cartel de Jalisco Nueva Generacion (CJNG). Concurrently, the Financial Crimes Enforcement Network (FinCEN) issued a Notice, jointly with OFAC and the FBI, to financial institutions detailing timeshare fraud schemes in Mexico associated with CJNG and other transnational criminal organizations.

On Tuesday, July 16, Under Secretary for Terrorism and Financial Intelligence Brian Nelson and Financial Crimes Enforcement Network (FinCEN) Director Andrea Gacki will participate in a beneficial ownership reporting outreach event in Columbus, Ohio, in partnership with Rep. Joyce Beatty (D-OH).

WASHINGTON – The United States and Australia hosted the Pacific Banking Forum from July 8-9 in Brisbane, Australia, to address the urgent issue of 'de-risking' and the decline of correspondent banking relationships (CBRs) in the Pacific. Initiated by President Joe Biden and Prime Minister Anthony Albanese, the Forum gathered Pacific Island Finance Ministers, Central Bank Governors, regulators, international financial institutions (IFIs), multilateral development banks, policymakers, Financial Intelligence Units, and commercial banks. Senior officials from the U.S., Australia,...

On July 12, 2024, Secretary of the Treasury Janet L. Yellen delivered remarks at the Freedman’s Bank Summer Symposium. The event was attended by Deputy Secretary Wally Adeyemo and other colleagues.

The U.S. Department of the Treasury and Internal Revenue Service (IRS) have announced a significant milestone in their initiative to collect past-due tax debt from high-income, high-wealth individuals. This effort, enabled by resources from President Biden’s Inflation Reduction Act, has recovered over $1 billion to date.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Tren de Aragua, a Venezuela-based transnational criminal organization. The group is involved in various criminal activities across the Western Hemisphere, including human smuggling and trafficking, gender-based violence, money laundering, and illicit drug trafficking.

WASHINGTON – Today, the Federal Insurance Office (FIO) at the U.S. Department of the Treasury hosted a roundtable discussion with representatives from the financial services sector and consumer groups to discuss the title insurance industry and analyze potential reforms as part of the Biden administration’s efforts to lower costs for homebuyers.

Secretary of the Treasury Janet L. Yellen met with Israeli Foreign Minister Israel Katz today on the sidelines of the NATO Summit in Washington, DC. Secretary Yellen reaffirmed the Treasury’s strong commitment to Israel’s security.

As Prepared for Delivery

On Friday, July 12, 2024, the U.S. Department of the Treasury will host the annual Freedman’s Bank Forum in Raleigh, North Carolina. The event will feature U.S. Deputy Secretary of the Treasury Wally Adeyemo, Governor Roy Cooper, Biden-Harris Administration officials, and key leaders from various sectors. The forum aims to highlight efforts to increase economic opportunities for communities of color and showcase local success stories around Raleigh.