READOUT: Treasury Officials Visit Mexico to Further Collaboration on Illicit Finance

MEXICO CITY – U.S. Department of the Treasury officials from two key offices involved in the fight against fentanyl and its financing traveled to Mexico last week to meet with counterparts in the Government of Mexico and representatives of the U.S. and Mexican financial sector.  The visit follows Secretary Janet Yellen’s visit to Mexico in […]

U.S. Department of the Treasury, IRS, and Department of Energy Announce Closing of Applications for First Year of Groundbreaking Inflation Reduction Act Program for Solar and Wind Energy in Low-Income Communities

WASHINGTON—Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS), in partnership with the Department of Energy (DOE), announced that DOE will no longer accept new applications for the 2023 program year of the Inflation Reduction Act’s Low-Income Communities Bonus Credit Program after February 29, 2024, at 11:59 PM EST.  Applications for the […]

READOUT: Secretary of the Treasury Janet L. Yellen’s Bilateral Meeting with Executive Vice President and Commissioner for Economy Paolo Gentiloni of the European Union

WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen met with European Commissioner for Economy Paolo Gentiloni. They discussed several topics of mutual interest, such as our efforts to deprive Russia of its ability to wage war and support for Ukraine in its defense against Putin’s brutal invasion. Secretary Yellen congratulated the European Union […]

Treasury Targets Price Cap Violation Network and Implements G7 Ban on Russian Diamonds

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking its second price cap enforcement action of 2024, imposing sanctions on four entities and identifying one vessel as blocked property. The network of these entities and the vessel were involved in a price cap violation scheme in late […]

READOUT: Treasurer Chief Malerba Outlines Biden-Harris Administration’s Historic Support for Tribal Communities at the National American Indian Housing Council’s Legislative Conference

WASHINGTON – Yesterday, U.S. Treasurer Chief Lynn Malerba delivered keynote remarks at the National American Indian Housing Council’s 2024 Legislative Conference. During her remarks, Chief Malerba discussed the Biden-Harris Administration’s historic support for Tribal communities, including efforts to strengthen housing security in Indian Country that prevented a wave of evictions and foreclosures. In December at […]

Treasury Publishes 2024 National Risk Assessments for Money Laundering, Terrorist Financing, and Proliferation Financing

Reports Confirm and Update Key Illicit Finance Concerns in Response to Evolving Threat and Risk Environment    WASHINGTON – Today, the U.S. Department of the Treasury published the 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing. These reports highlight the most significant illicit finance threats, vulnerabilities, and risks facing the United States.  […]

READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Travel to France

WASHINGTON – From February 5-6, Deputy Secretary of the Treasury Wally Adeyemo traveled to Paris, France to meet with senior French government counterparts and continue our close coordination with France on holding Russia accountable for its war against Ukraine. In engagements with senior officials at the Elysée, the Prime Minister’s Office, the Ministry of Finance, […]

Treasury Sanctions Ecuador’s Notorious Los Choneros Gang and Its Leader

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned one of Ecuador’s most violent gangs, Los Choneros, and its leader, José Adolfo Macías Villamar (also known by the alias “Fito”), pursuant to counter narcotics authorities. OFAC’s action follows a steep rise in violence in Ecuador attributed to the actions […]

Federal Bank Regulatory Agencies Seek Comment on Interagency Effort to Reduce Regulatory Burden

The federal bank regulatory agencies today published their first of a series of requests for comment to reduce regulatory burden. The Economic Growth and Regulatory Paperwork Reduction Act of 1996 requires the Federal Financial Institutions Examination Council and federal bank regulatory agencies to review their regulations every 10 years to identify any outdated or otherwise […]

READOUT: Third Meeting of the Economic Working Group Between the United States and the People’s Republic of China

The United States and the People’s Republic of China held the third meeting of the Economic Working Group (EWG) on February 5-6. This was the first meeting of the EWG in 2024 and its first meeting in China.  Senior officials from the U.S. Department of the Treasury and China’s Ministry of Finance convened for the two-day EWG meetings […]