WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Liberian government officials Nathaniel McGill, Sayma Syrenius Cephus, and Bill Twehway for their involvement in ongoing public corruption in Liberia. These officials are designated pursuant to Executive Order (E.O.) 13818, which builds upon and implements the Global Magnitsky Human […]
Category Archives: U.S. Treasury
Statement by Secretary of the Treasury Janet L. Yellen on the Passage of the Inflation Reduction Act of 2022
WASHINGTON — Secretary of the Treasury Janet L. Yellen released the following statement on the final passage of the Inflation Reduction Act of 2022. “Today is an historic day for our country and our economy. The Inflation Reduction Act of 2022 will make America more competitive, lower health and energy costs for families, create high-quality jobs, bolster […]
READOUT: Assistant Secretary Elizabeth Rosenberg’s Visit to Singapore
SINGAPORE — On August 10 and 11, Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg met with counterparts in Singapore, including from the Ministry of Finance, the Ministry of Trade and Industry, and the Monetary Authority of Singapore. During these engagements, Assistant Secretary Rosenberg thanked her counterparts for Singapore’s strong action in imposing […]
Secretary of the Treasury Janet L. Yellen Sends Letter to IRS Commissioner in Support of Funding for IRS to Improve Taxpayer Service & Combat Evasion By High Income Earners and Corporations
WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen sent a letter to the Commissioner of the Internal Revenue Service (IRS) Charles P. Rettig in support of the much needed funding to the IRS to improve taxpayer service, modernize outdated technological infrastructure, and increase equity in the tax system by enforcing the tax […]
READOUT: Assistant Secretary Elizabeth Rosenberg’s Visit to Indonesia
JAKARTA — On August 8 and 9, Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg met with counterparts in Jakarta, Indonesia, including from the Coordinating Ministry for Maritime and Investment Affairs, the Ministry of Finance, the Ministry of Energy and Mineral Resources, and the Financial Transaction Reports and Analysis Center (PPATK). In these […]
OCC Hosts Credit and Operational Risk Workshops in Orlando
News Release 2022-96 | August 8, 2022 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) will host two workshops September 13-14 in Orlando, Fla., for directors, senior management, and other key executives of national community banks and federal savings associations. The Credit Risk: Directors Can Make a Difference workshop on September 13 […]
U.S. Treasury Sanctions Notorious Virtual Currency Mixer Tornado Cash
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned virtual currency mixer Tornado Cash, which has been used to launder more than $7 billion worth of virtual currency since its creation in 2019. This includes over $455 million stolen by the Lazarus Group, a Democratic People’s Republic of […]
Remarks by Secretary of the Treasury Janet L. Yellen at White House Virtual Roundtable with Business and Labor Leaders
As Prepared for Delivery Thank you, Brian. I’m really excited to be here today to talk with leaders from both business and labor about how important it is for Congress to pass the Inflation Reduction Act. Actually, I convened businesses leaders myself yesterday to discuss this important legislation. It will address the cost of prescription drugs […]
Statement from Former Treasury Secretaries on Inflation Reduction Act
“As former Treasury Secretaries of both Democratic and Republican Administrations, we support the Inflation Reduction Act which is financed by prudent tax policy that will collect more from top-earners and large corporations. Taxes due or paid will not increase for any family making less than $400,000/year. And the extra taxes levied on corporations do not reflect increases in the corporate […]
Minutes of the Meeting of the Treasury Borrowing Advisory Committee August 2, 2022
The Committee convened in a closed session at the Department of the Treasury at 10:50 a.m. All members were present. Under Secretary for Domestic Finance Nellie Liang, Fiscal Assistant Secretary David Lebryk, Assistant Secretary for Financial Markets Josh Frost, Deputy Assistant Secretary for Federal Finance Brian Smith, Director of the Office of Debt Management Fred […]