Treasury Department Announces New Funding to Support Small Businesses in Six States and Three U.S. Territories as Part of the Biden-Harris Administration’s Investing in America Agenda

WASHINGTON – As part of the Biden-Harris Administration’s Investing in America Agenda, the U.S. Department of the Treasury today announced six new awards to states and two new awards to territories under the State Small Business Credit Initiative (SSBCI) Technical Assistance Grant Program, totaling more than $27 million. These awards will be used to provide […]

Biden-Harris Administration Announces New Funding to Expand High Speed Internet in New Mexico Tribal Communities as Part of President Biden’s Investing in America Agenda

American Rescue Plan funding, administered by the Treasury Department, will fund improved broadband internet access in Tribal communities   ALBUQUERQUE, NM – Today, at the Indian Pueblo Cultural Center in Albuquerque, New Mexico, the Biden-Harris Administration announced the approval of $10 million for multi-purpose facilities in Tribal communities under the U.S. Department of the Treasury’s Capital […]

Treasury Announces Cyber Security Cooperation Memorandum of Understanding with Finland

WASHINGTON – Today, the U.S. Department of the Treasury announced that it has signed a cyber security cooperation memorandum of understanding with Finland. The Memorandum of Understanding (MoU) will facilitate exchange of information on cybersecurity between the Finnish Ministry of Finance and the Treasury Department. “Effective information sharing is critical to building operational resilience. This […]

READOUT: Assistant Secretary for International Finance Brent Neiman’s Travel to Argentina

BUENOS AIRES – From March 13-15, Assistant Secretary for International Finance Brent Neiman visited Buenos Aires and met with senior members of President Milei’s administration, including Minister of Economy Luis Caputo, Secretary of Finance Pablo Quirno, and Central Bank of the Argentine Republic President Santiago Bausili and Vice President Vladimir Werning. Assistant Secretary Neiman also […]

READOUT: Under Secretary for Terrorism and Financial Intelligence Brian Nelson’s Travel to Japan

TOKYO – On March 13 and 14, Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson held meetings in Tokyo, Japan to continue close coordination between the two G7 allies on pressing national security issues, including countering Russian attempts to evade multilateral sanctions and export controls particularly through third countries; protecting maritime shipping from […]

Treasury Targets Vessel Shipping Iranian Commodities for Houthis and Qods Force

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking action against Marshall Islands-registered shipping company Vishnu Inc., whose vessel, the LADY SOFIA, is involved in illicit shipments to the People’s Republic of China (PRC) in support of Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and Houthi financial facilitator […]

OCC to Host Office Hours in San Francisco

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced the Office of Financial Technology (OFT) will hold Office Hours in San Francisco, May 21-22, 2024, to promote responsible innovation in the federal banking system. Office Hours are one-on-one meetings with OCC’s OFT staff to discuss financial technology (fintech), new products or services, partnering […]

OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A. Related to Bank’s Trade Surveillance Program

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $250 million civil money penalty against JPMorgan Chase Bank, N.A. (JPMC) related to deficiencies in its trade surveillance program. The OCC found that JPMC operated with gaps in trading venue coverage and without adequate data controls required to maintain an effective trade surveillance […]

U.S. Treasury Statement on the IFC Bridge International Academies Case

The U.S. Treasury Department is profoundly concerned with the unacceptable failures at the IFC identified by the Compliance Advisor Ombudsman (CAO) in its investigation of the IFC’s Bridge International Academies project.  The investigative report (the “CAO Report”)[1] disclosed on March 14 confirmed numerous incidents of child sexual abuse between 2013 and 2020 at schools in […]

Treasury Sanctions Primeiro Comando da Capital (PCC) Operative

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Diego Macedo Gonçalves do Carmo (Gonçalves), a member of Primeiro Comando da Capital (PCC), a Brazil-based criminal organization sanctioned pursuant to counter narcotics authorities. The PCC is the most notorious organized crime group in Brazil and among the largest […]