FinCEN settlement of $3.4 billion and OFAC settlement of $968 million largest for each IRS – CI investigation leads to Department of Justice action WASHINGTON — The U.S. Department of the Treasury, through the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and IRS Criminal Investigation (CI), has taken unprecedented […]
Category Archives: U.S. Treasury
Remarks by Assistant Secretary Graham Steele at the Federal Insurance Office and NYU Stern Volatility and Risk Institute Conference on Catastrophic Cyber Risk and a Potential Federal Insurance Response
As Prepared for Delivery Good afternoon. My name is Graham Steele, and I am the Assistant Secretary for Financial Institutions at the Treasury Department. It’s my pleasure to help conclude this Treasury FIO-NYU conference on catastrophic risk and a potential federal insurance response. A number of people are responsible for making today’s event a success. […]
U.S. Department of the Treasury, IRS Propose New Rules to Drive Clean Energy Investments
Guidance to clarify underlying Investment Tax Credit critical for companies planning clean energy projects WASHINGTON —Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) released guidance on the Investment Tax Credit (ITC) under Section 48 of Internal Revenue Code to spur the investment boom ushered in by President Biden’s Inflation Reduction Act. […]
U.S. Treasury Sanctions Iran-Aligned Militias in Iraq
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating six individuals affiliated with the Iran-aligned militia group (IAMG) Kata’ib Hizballah (KH) based in Iraq. Trained, funded, and supported by Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), KH is behind a spate of recent attacks against the United […]
OCC Announces Enforcement Actions for November 2023
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. The OCC uses enforcement actions against its supervised institutions to require the board of directors and management to take timely actions to […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Meeting with State Secretary for International Finance Daniela Stoffel of Switzerland
WASHINGTON – Today, Deputy Secretary of the Treasury Wally Adeyemo met with Switzerland’s State Secretary for International Finance Daniela Stoffel. Deputy Secretary Adeyemo and State Secretary Stoffel exchanged views on global economic issues and areas of bilateral collaboration. Deputy Secretary Adeyemo discussed how allies and partners can best support Ukraine. Deputy Secretary Adeyemo thanked State […]
Remarks by Under Secretary for Domestic Finance Nellie Liang at the 2023 Treasury Market Conference
As Prepared for Delivery Good morning and thank you all for being here today. I’ve been looking forward to this annual conference and the opportunity for official sector representatives, academics, and market practitioners to come together. As I said last year, an important mission for us collectively is to strengthen the resilience of the Treasury market. […]
The U.S. Government Designates Individuals and Entities in the Western Balkans for Corruption and Malign Activities
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated eight individuals and six entities pursuant to Western Balkans-related Executive Order (E.O.) 14033 and Russia-related E.O. 14024. In a coordinated action, the U.S. Department of State also designated two individuals and 12 entities pursuant to E.O. 14024. “Russia has continued […]
Treasury Sanctions Additional Maritime Companies, Vessels Transporting Oil Sold Above the Coalition Price Cap
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is imposing sanctions on three entities and identifying as blocked property three vessels that used Price Cap Coalition service providers while carrying Russian crude oil above the Coalition-agreed price cap. This action underscores Treasury’s commitment, alongside its international partners, to […]
Treasury Department Announces Approval of Up to $62 Million to Support Small Businesses in Washington, D.C. as Part of President Biden’s Investing in America Agenda
Plans for more than $8.3 billion in State Small Business Credit Initiative funding have been approved to support small business and entrepreneurship in communities across the nation WASHINGTON — Today, the U.S. Department of the Treasury announced the approval of Washington, D.C.’s plan for up to $62 million in funding under the American Rescue […]