WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned one current and one former Guatemalan government official for their roles in corruption in Guatemala. This action targets Gustavo Adolfo Alejos Cambara, the former Chief of Staff for the Alvaro Colom presidential administration, and Felipe Alejos Lorenzana, an elected […]
Category Archives: U.S. Treasury
OCC Conditionally Approves Chartering of Paxos National Trust
News Release 2021-49 | April 23, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced preliminary conditional approval of the application to charter Paxos National Trust, New York. The OCC granted a national trust bank charter to Paxos after thorough review of the company and its current operations. In granting […]
READOUT: Deputy Secretary Wally Adeyemo’s Meeting with Americans for Financial Reform
Today, Deputy Secretary of the Treasury Wally Adeyemo met virtually with leaders and representatives from Americans for Financial Reform (AFR) and their affiliates to discuss the importance of putting the interests of the American people first in our financial system. AFR is a leading nonprofit advocacy coalition comprised of more than 200 civil rights, consumer, […]
Agencies Invite Comment on Proposed Rule for Income Tax Allocation Agreements
News Release 2021-48 | April 22, 2021 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency The federal bank regulatory agencies today invited comment on a proposed rule that updates and codifies existing guidance on income tax allocation agreements involving depository institutions and […]
Two Million More Economic Impact Payments Disbursed Under the American Rescue Plan; Total Reaches Approximately 161 million as Payments Continue
WASHINGTON — Today, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they are disbursing nearly 2 million payments in the sixth batch of Economic Impact Payments from the American Rescue Plan. Today’s announcement brings the total disbursed so far to approximately 161 million payments, with […]
Remarks by Secretary of the Treasury Janet L. Yellen at the Leaders Summit on Climate
Remarks as prepared President Biden, Secretary Kerry, and other distinguished guests, I am honored to join you at today. The global community has only a short time to avoid the most catastrophic effects of climate change: We need a “sprinting start” now if we wish to achieve our goal of net-zero emissions by mid-century. President […]
Treasury Sanctions Key Timber and Pearl Enterprises in Burma
OFAC Action Impacts Military Regime Sources of Revenue WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two Burmese state-owned enterprises, Myanma Timber Enterprise (MTE) and Myanmar Pearl Enterprise (MPE), which are responsible for timber and pearl exports from Burma. The timber and pearl industries are key economic […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Roundtable Discussion with Securities Industry and Financial Markets Association Board of Directors
Today, Deputy Secretary of the Treasury Wally Adeyemo met virtually with members of the Securities Industry and Financial Markets Association (SIFMA) Board of Directors for a roundtable discussion that addressed the importance of establishing strong public-private partnerships to address the challenges facing Americans. SIFMA is a trade association for broker-dealers, investment banks, and asset managers […]
American Rescue Plan Tax Credits Available to Small Employers to Provide Paid Leave to Employees Receiving COVID-19 Vaccines
WASHINGTON — The Treasury Department and the Internal Revenue Service announced today further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations. Eligible employers, such as businesses and tax-exempt organizations with fewer than 500 employees and certain governmental employers, can receive […]
Secretary of the Treasury Janet L. Yellen’s Remarks to the Institute of International Finance
I first started working on climate change in the 1990s, advising President Clinton as Chair of the Council of Economic Advisers in the runup to the 1997 Kyoto Conference of Parties. We understood that the potential cost of climate change was significant. Of course, we know what the trajectory has been ever since. Over the […]