Concurrent Treasury sanctions and DOJ indictments hold to account founders of mixing service that laundered stolen virtual assets for North Korea WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Roman Semenov, one of three co-founders of the sanctioned virtual currency mixer Tornado Cash, for his role in […]
Category Archives: U.S. Treasury
OCC Allows National Banks and Federal Savings Associations in California, Nevada and Arizona Affected by Tropical Storm Hilary to Close
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of California, Nevada and Arizona affected by Tropical Storm Hilary. In issuing the proclamation, the OCC expects that only those bank offices directly […]
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the Hawaii Wildfires
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Hawaii Department of Commerce and Consumer Affairs’ Division of Financial Institutions, the National Credit Union Administration, and the Office of the Comptroller of the Currency, collectively the agencies, recognize the serious impact of the recent Hawaii wildfires on the customers […]
OCC Hosts Workshops for Bank Directors and Senior Management in Chicago and San Antonio
WASHINGTON—The Office of the Comptroller of the Currency (OCC) will host workshops in Chicago and San Antonio on September 26-27 for directors, senior management, and other key executives of national community banks and federal savings associations. The Building Blocks: Developing Strong Management workshop, to be held September 26-27 in Chicago, is focused on strategy, people, […]
Treasury Targets Individuals Involved in the Poisoning of Aleksey Navalny
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is once again taking action to hold the Government of Russia accountable for its poisoning of Russian opposition politician Aleksey Navalny (Navalny) three years ago on August 20, 2020. Russian authorities imprisoned Navalny upon his return to Russia in January […]
Treasury Sanctions Entities Tied to Arms Deals Between North Korea and Russia
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on three entities tied to a sanctions evasion network attempting to support arms deals between Russia and the Democratic People’s Republic of Korea (DPRK). The entities are Limited Liability Company Verus (Verus), Defense Engineering Limited Liability Partnership (Defense Engineering), […]
New U.S. Department of the Treasury Analysis Shows Inflation Reduction Act Achieving Key Goal of Driving Investment to Underserved Communities
Investments concentrated in communities with lower wages, lower employment rates, and lower college graduation rates WASHINGTON – Today the U.S. Department of the Treasury published new analysis on the impact of the Inflation Reduction Act on the law’s one-year anniversary. The analysis by Acting Assistant Secretary for Economic Policy Eric Van Nostrand and Deputy Assistant […]
Inflation Reduction Act 1-Year Report Card: IRS Delivers Dramatically Improved 2023 Filing Season Service, Modernizes Technology, Pursues High-Income Individuals Evading Taxes
New milestones in Paperless Processing Initiative: 225X more forms scanned than in 2022, 51 additional forms and letters available for online response New improvements to customer callback option to better serve taxpayers during high call volume, customer callback option will now be available for up to 95% of callers seeking live assistance. WASHINGTON – One […]
Treasury Sanctions Lebanese Entity and Leader for Providing Support to Hizballah
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Lebanon-based Green Without Borders and its leader. Green Without Borders is a Lebanon-based organization that has provided support to and cover for Hizballah’s operations in southern Lebanon along the “Blue Line” between Lebanon and Israel over the last decade […]
Treasury Department Announces Approval of Federal Funds to Connect Tens of Thousands of Ohio Homes and Businesses to Affordable, High-Speed Internet as Part of President Biden’s Investing in America Agenda
To date, the Capital Projects Fund has awarded nearly $8 billion for broadband, digital technology, and multi-purpose community center projects in 47 states, which those states estimate will reach over two million locations Combined with other Administration initiatives, President Biden’s Investing in America agenda has brought affordable internet to over 19 million American households WASHINGTON […]