OCC Hosts Credit Risk and Operational Risk Workshops in New Orleans

News Release 2020-7 | January 27, 2020 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency will host two workshops at the Embassy Suites by Hilton in New Orleans, March 3-4, for directors of national community banks and federal savings associations supervised by the OCC. The Credit Risk workshop on March 3 […]

IRS kicks off 2020 tax filing season with returns due April 15; help available on IRS.gov for fastest service

IR-2020-20, January 27, 2020 WASHINGTON ― The Internal Revenue Service successfully opened the 2020 tax filing season today as the agency begins accepting and processing federal tax returns for tax year 2019. The deadline to file a 2019 tax return and pay any tax owed is Wednesday, April 15, 2020. More than 150 million individual […]

FTC and NY Attorney General Charge Vyera Pharmaceuticals, Martin Shkreli, and Other Defendants with Anticompetitive Scheme to Protect a List-Price Increase of More Than 4,000 Percent for Life-Saving Drug Daraprim

The Federal Trade Commission has filed a complaint in federal court against Vyera Pharmaceuticals, LLC, alleging an elaborate anticompetitive scheme to preserve a monopoly for the life-saving drug, Daraprim. Daraprim is the gold standard treatment for a rare, potentially fatal parasitic infection known as toxoplasmosis. In most people, toxoplasmosis is easily contained by the immune […]

FTC to Host Workshop Voice Cloning Technologies on Jan. 28

WHAT: The Federal Trade Commission will host a workshop to examine voice cloning technologies. WHEN: Tuesday, January 28, 12:30 p.m.-5:00 p.m. ET. WHERE: Constitution Center400 Seventh St., SWWashington, D.C. 20024 WHO: The event will feature remarks by FTC Commissioner Rohit Chopra as well as industry officials, academics, and others. WEBCAST: The workshop will be webcast. […]

IRS provides relief to financial institutions affected by tax law change raising the age for required minimum distributions

IR-2020-19, January 27, 2020 WASHINGTON — The Internal Revenue Service has provided relief to financial institutions that were expected to provide required minimum distribution (RMD) statements to IRA owners by January 31, 2020. Notice 2020-6 (PDF) clarifies that if an RMD statement is provided for 2020 to an IRA owner who will turn age 70½ in […]

Readout from a Treasury Spokesperson on Secretary Mnuchin’s meeting with Chancellor of the Exchequer Sajid Javid, of the United Kingdom

London – U.S. Treasury Secretary Steven T. Mnuchin met with Chancellor of the Exchequer Sajid Javid, of the United Kingdom (U.K.). The Secretary and Chancellor underscored the importance of the special relationship between the U.S. and the U.K., and discussed a range of topics including trade, Brexit, international taxes, and sanctions. ####

OCC Issues Notice of Charges Against Five Former Senior Wells Fargo Bank Executives, Announces Settlement With Others

News Release 2020-6 | January 23, 2020 Share This Page: WASHINGTON – The Office of the Comptroller of the Currency (OCC) today issued a notice of charges against five former senior executives of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, and announced settlements with the bank’s former Chief Executive Officer (CEO) and other members of […]

Treasury Targets International Network Supporting Iran’s Petrochemical and Petroleum Industries

WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against four international petrochemical and petroleum companies that have collectively transferred the equivalent of hundreds of millions of dollars’ worth of exports from the National Iranian Oil Company (NIOC), an entity instrumental in Iran’s petroleum and petrochemical industries, […]

New FTC Data Shows that the FTC Received Nearly 1.7 Million Fraud Reports, and FTC Lawsuits Returned $232 Million to Consumers in 2019

New data released by the Federal Trade Commission shows that FTC actions led to more than $232 million in refunds to consumers across the country in 2019. A core part of the FTC’s mission is to return money to consumers who are harmed by illegal business practices. Over the last four years, consumers have cashed […]

Global tax chiefs undertake unprecedented multi-country day of action to tackle international tax evasion

IR-2020-18, January 23, 2020 WASHINGTON — A globally coordinated day of action to put a stop to the suspected facilitation of offshore tax evasion has been undertaken this week across the United Kingdom (UK), United States (US), Canada, Australia and the Netherlands. The action occurred as part of a series of investigations in multiple countries […]