$20 billion in recovery funds is largest single infusion of federal funding into Indian Country WASHINGTON– Today, the U.S. Department of the Treasury released a report detailing how Tribal governments are using a historic level of financial support through the American Rescue Plan (ARP) to provide critical recovery assistance and improve the health and well-being of […]
Category Archives: U.S. Treasury
Statement by Under Secretary Brian Nelson on the FATF Report on Money Laundering from Fentanyl and Synthetic Opioids
WASHINGTON – Today, the Financial Action Task Force (FATF) released its first ever report on money laundering from fentanyl and synthetic opioids with recommendations for countering financial flows from the illicit drug trade, which claims thousands of lives around the world. The report was co-led by the United States and Canada. Below is a statement […]
OCC Revises Civil Money Penalty Manual
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced revisions to its civil money penalty (CMP) manual which the agency will begin using on January 1, 2023. The OCC revised the CMP matrix applicable to its regulated institutions to allow for sufficient differentiation among varying levels of misconduct or by institution size, and […]
Treasury Hosts Tribal Consultations on Inflation Reduction Act
WASHINGTON, D.C. – The U.S. Department of the Treasury today and yesterday hosted Tribal Consultations on the Inflation Reduction Act to hear first-hand from Tribal leaders about provisions in the law that directly affect Tribal nations. More than 200 Tribal leaders and citizens attended. The consultations are part of Treasury’s ongoing work to solicit input to […]
Treasury Announces Guidance on Inflation Reduction Act’s Strong Labor Protections
Guidance starts 60-day “clock” for key labor provisions to take effect WASHINGTON – Today, the Treasury Department announced initial guidance on the Inflation Reduction Act’s strong labor standards that firms must meet to qualify for enhanced clean energy and climate tax incentives. The guidance, which can be read in full here and will be published […]
Treasury Issues Venezuela General License 41 Upon Resumption of Mexico City Talks
WASHINGTON — On November 26th, the Unitary Platform and the Maduro regime announced the resumption of talks in Mexico City; a humanitarian agreement focused on education, health, food security, flood response, and electricity programs that will benefit the Venezuelan people; and agreement on the continuation of talks focused on the 2024 elections. Following this announcement […]
READOUT: Deputy Secretary Adeyemo Discusses Unlocking Investment Opportunities of the Inflation Reduction Act
LOS ANGELES, CA – On Tuesday, Deputy Secretary of the Treasury Wally Adeyemo participated in a roundtable with clean energy investors and operators to discuss ways the public and private sectors can work together to leverage the Inflation Reduction Act’s historic climate investments to accelerate and build a clean energy economy. According to third-party estimates, […]
Acting Comptroller of the Currency Issues Statement on Large Bank Resolution Plans
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu, in his capacity as a Federal Deposit Insurance Corporation (FDIC) board member, today released the following statement on the FDIC’s review of the eight largest and most complex domestic banking organizations’ 2021 resolution plans. The collaborative review of the plans by the FDIC and Federal Reserve Board […]
Treasury Sanctions Iranian Officials Connected to the Continued Protest Crackdown
WASHINGTON —Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating three Iranian security officials for the Iranian regime’s continued crackdown on ongoing protests throughout the country, including most recently in Kurdish areas. The Iranian regime has increased its aggressive actions against the Iranian people as part of its ongoing […]
READOUT: Deputy Secretary Adeyemo Roundtable with Labor Leaders on the Inflation Reduction Act
LOS ANGELES, CA – U.S. Deputy Secretary of the Treasury Wally Adeyemo participated in a roundtable discussion with labor leaders yesterday to discuss Treasury’s implementation of the strong worker provisions included in the Inflation Reduction Act and ways to help ensure workers benefit from the gains created by the transition to a clean energy economy. The roundtable was […]