Washington – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today designated TNK Trading International S.A. (TTI) for operating in the oil sector of the Venezuelan economy. TTI, incorporated in Switzerland, is a subsidiary of Russian state-controlled Rosneft Oil Company. Following the February 18, 2020 Treasury designation of Rosneft Trading S.A. […]
Monthly Archives: March 2020
IRS announces waivers for Offer in Compromise applications
IR-2020-55, March 12, 2020 WASHINGTON — The Internal Revenue Service today announced the release of final regulations that increase the Offer in Compromise application fee to $205 and provide an additional way for the IRS to waive the Offer in Compromise application fee for low-income taxpayers, based on their adjusted gross income (AGI). An Offer […]
Treasury Sanctions Businesses Linked to Mexican Cartels
Treasury action taken in coordination with DEA operation Washington – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today designated four Mexican businesses pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act) because of their links to the Cartel de Jalisco Nueva Generacion (CJNG) and the Los Cuinis Drug Trafficking […]
Statement of Secretary Steven T. Mnuchin Before the U.S. House Appropriations Subcommittee on State, Foreign Operations, and Related Programs
Chairwoman Lowey, Ranking Member Rogers, and members of the Subcommittee, I am pleased to be with you today to discuss the President’s Fiscal Year (FY) 2021 Budget and the Treasury Department’s top priorities. I first want to note that the Administration, through the White House Coronavirus Task Force, is taking decisive action to address risks […]
Treasury Sanctions Two Individuals for Human Rights Abuse in Zimbabwe
Washington – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today designated Anselem Sanyatwe (Sanyatwe) and Owen Ncube (Ncube) for their involvement in human rights abuses including directing an attack on peaceful demonstrators and political opponents in Zimbabwe. OFAC is concurrently removing sanctions on Ray Kaukonde, Shuvai Ben Mahofa, Sithokozile Mathuthu, […]
Extension of Comment Period for RFI on How to Modernize Signage and Advertising Requirements for Banks
FIL-15-2020 March 11, 2020 Extension of Comment Period for RFI on How to Modernize Signage and Advertising Requirements for Banks Printable Format: FIL-15-2020 – PDF (PDF Help) Summary: The FDIC is extending to April 20, 2020, the public comment period for its Request for Information (RFI) on potentially modernizing FDIC sign and advertising requirements (12 […]
IRS: High-deductible health plans can cover Coronavirus costs
IR-2020-54, March 11, 2020 WASHINGTON — The Internal Revenue Service today advised that high-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without jeopardizing their status. This also means that an individual with an HDHP that covers these costs may continue to contribute to a health savings account (HSA). In […]
Readout of Call of President’s Working Group on Financial Markets
WASHINGTON – Today, U.S. Treasury Secretary Steven T. Mnuchin convened a call of the President’s Working Group on Financial Markets to discuss recent market conditions and activity. The group shared updates on the resilience of the markets and the economic impact of COVID-19. This group includes a subset of the full FSOC. Participants on the […]
First Round of Refunds Totaling $153 Million Sent to Consumers As a Result of Multi-Agency Case Against Western Union
Approximately $153 million is being mailed to 109,000 consumers in the first distribution of refunds resulting from the law enforcement actions brought against Western Union by the Federal Trade Commission (FTC), the U.S. Department of Justice (DOJ), and the U.S. Postal Inspection Service. The affected consumers are receiving compensation for 100 percent of their losses. […]
Three Defendants in Student Debt Relief Scheme Banned from Selling Debt Relief and Telemarketing
Three defendants in a student loan debt relief scheme have been banned from telemarketing and selling debt relief, and ordered to pay millions in resolution of Federal Trade Commission allegations that they deceived consumers by promising to reduce or eliminate consumers’ student loan debt. The U.S. District Court for the Central District of California found […]