Washington — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Tren de Aragua, a Venezuela-based transnational criminal organization that is expanding throughout the Western Hemisphere and engaging in diverse criminal activities, such as human smuggling and trafficking, gender-based violence, money laundering, and illicit drug trafficking. “Today’s designation of Tren de […]
Category Archives: U.S. Treasury
Remarks by Assistant Secretary for Financial Markets Joshua Frost on Principles of U.S. Debt Management Policy
As Prepared for Delivery Good evening and thank you to the Money Marketeers’ leadership for inviting me to speak with you this evening. I have been to several Money Marketeers events throughout the course of my career and firmly believe in the Money Marketeers’ laudable goal of “establish(ing) greater dialogue between the public and private […]
U.S. Department of the Treasury, IRS Announce $1 Billion in Past-Due Taxes Collected from Millionaires
Major Milestone Reached Under Initiative Launched Last Year Under Inflation Reduction Act WASHINGTON – Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) announced that a new initiative to collect past-due tax debt from high-income, high-wealth individuals has reached a major milestone, with more than $1 billion recovered. This new initiative was made […]
OCC Amends Enforcement Action Against Citibank, Assesses $75 Million Civil Money Penalty
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued an amendment to its October 7, 2020, Cease and Desist Order against Citibank, N.A, Sioux Falls, South Dakota, related to deficiencies in enterprise-wide risk management, compliance risk management, data governance, and internal controls (2020 Order). The amendment is based on the bank’s failure to […]
Acting Comptroller Discusses Importance of Addressing Financial Fraud
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed ways banks can assist their customers in avoiding fraud and scams in remarks during the Financial Literacy and Education Commission’s Public Meeting. In his written remarks, Mr. Hsu acknowledged the range of frauds and scams that result in significant annual losses to consumers and businesses. […]
READOUT: U.S. Department of the Treasury Hosts Roundtable with Consumer Groups and Industry Representatives on Title Insurance
WASHINGTON – Today, the Federal Insurance Office (FIO) at the U.S. Department of the Treasury hosted a roundtable discussion with representatives from the financial services sector and consumer groups to discuss the title insurance industry and analyze potential reforms, as part of the Biden administration’s efforts to lower costs for homebuyers. Title insurance is a […]
Remarks by Under Secretary for International Affairs Jay Shambaugh on Chinese Overcapacity and the Global Economy
As Prepared for Delivery Thank you, Rush, for the kind introduction. And thank you to Mike Froman and the Council on Foreign Relations for hosting me. Few topics are a greater priority today – for the Biden administration in general and the U.S. Treasury in particular – than our economic engagement with China. Underlying our […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with Foreign Minister Israel Katz of Israel
WASHINGTON – Secretary Yellen met with Israeli Foreign Minister Israel Katz today, on the sidelines of the NATO Summit in Washington DC. Secretary Yellen reaffirmed Treasury’s strong commitment to Israel’s security. Secretary Yellen also emphasized the need for Israel to maintain economic stability in the West Bank by regularly transferring clearance revenues to the Palestinian Authority […]
OCC Renews Mutual Savings Association Advisory Committee Charter, Seeks Nominations
WASHINGTON—The Office of the Comptroller of the Currency (OCC) has renewed the charter of its Mutual Savings Association Advisory Committee (MSAAC) and seeks nominations for its members. The MSAAC provides advice and information to the Comptroller of the Currency on the condition of mutual savings associations, the regulatory changes or other steps the OCC may […]
OCC Renews Minority Depository Institutions Advisory Committee, Seeks Nominations
WASHINGTON—The Office of the Comptroller of the Currency (OCC) has renewed the charter of its Minority Depository Institutions Advisory Committee (MDIAC) and is seeking nominations for its members. The MDIAC provides advice to the Comptroller of the Currency about minority depository institutions, their current condition, potential regulatory changes that may promote their health and viability, […]