The Federal Reserve Bank of New York has announced the appointment of Michelle de la Uz to its Community Advisory Group. Her role takes effect immediately.

The Federal Reserve Bank of Cleveland has announced an upcoming webinar to provide insights into its annual internship program. The event, scheduled for October 7, 2024, from 11:00 AM to 12:00 PM ET, aims to inform college and university students about the opportunities available within the institution.

The U.S. Department of the Treasury and the IRS have issued a Notice of Proposed Rulemaking (NPRM) clarifying the tax status of wholly-owned Tribal entities. According to this proposal, these entities, which are chartered or organized by one or more Tribes, will share the same federal tax status as their owning Tribes, making them exempt from federal income tax.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has taken action against a significant international fundraising network supporting Hamas. The designations include three individuals, a sham charity, and a financial institution in Gaza controlled by Hamas. Additionally, a longstanding supporter of Hamas and nine associated businesses have been targeted.

Deputy Secretary of the Treasury Wally Adeyemo addressed attendees at the Wisconsin Building Trades Conference in Milwaukee, reflecting on the impact of recent legislative measures and the administration's commitment to economic recovery and growth. Adeyemo highlighted the challenges faced during the COVID-19 pandemic, noting that unemployment rates soared to nearly 15 percent nationwide, with even higher figures in Milwaukee.

Columbia Business School Professor Austin Campbell said that Binance, the largest cryptocurrency exchange globally, has relatively few criminal activity issues compared to traditional financial institutions. He attributed this to the nature of blockchain technology, which he said makes it difficult for criminals to use cryptocurrencies. Campbell shared his views in a post on X dated September 28.

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have announced that over 30 million taxpayers in 24 states will be eligible to use Direct File during the 2025 filing season. This initiative, facilitated by the Biden-Harris Administration’s Inflation Reduction Act, allows eligible Americans to file their taxes online for free directly with the IRS.

The Federal Reserve Bank of New York has released a report titled “Flood Risk and the Tristate Housing Market,” revealing that nearly one million houses and multifamily buildings in New York, New Jersey, and Connecticut are at high risk of flooding. This equates to one in ten properties in the tristate area, placing them among the top 25% of riskiest properties nationally, comparable to homes in coastal Florida, Texas, and Louisiana.

The Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators have issued a joint statement acknowledging the significant impact of Hurricane Helene on financial institutions. The agencies are committed to providing regulatory assistance to those affected under their supervision.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated one individual and three companies for facilitating weapons procurement and smuggling operations for Ansarallah, also known as the Houthis. The targeted entities are based in Iran and China and have allegedly assisted the Houthis in acquiring materials needed for advanced missiles and unmanned aerial vehicles (UAVs).

The U.S. Department of the Treasury has awarded $9.4 million to Empire State Development in New York to bolster small business growth in the semiconductor and microelectronics sectors. This funding, part of the Biden-Harris Administration’s State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP), is complemented by $1.5 million in matching funds from Empire State Development.

The Federal Reserve System is set to host the 2024 Minorities in Banking Forum on October 2-3, 2024, at the Federal Reserve Bank of Cleveland, located at 1455 E 6th St, Cleveland, OH 44115. The forum aims to convene mid- to senior-level leaders in the financial services industry with a focus on diversity and inclusion, leadership, and career enhancement.

The Federal Reserve Bank of Philadelphia is set to hold a virtual public engagement forum on October 8, focusing on the selection process for the next Philadelphia Fed president. The forum will provide an opportunity for members of the Search Committee to share details about the search process and discuss the desired qualities in a candidate. Attendees will have the chance to ask questions and offer feedback for consideration by the committee.

The Federal Reserve Bank of Richmond President, Tom Barkin, addressed the current economic situation at the 2024 UNCW Economic Outlook Conference in Wilmington, N.C. During his speech, he discussed recent decisions by the Federal Open Market Committee (FOMC) and their implications for inflation and economic growth.

TJC LP, a middle-market private equity firm focused on North American businesses, has announced the closure of its second continuation fund at $2.1 billion. This fund extends The Resolute Fund III, L.P. and includes an asset jointly owned with The Resolute Fund IV, L.P.

Like many small New England cities, Fitchburg developed around a river and the mills it powered. The city struggled after the mills began closing in the mid- to late 20th century as manufacturing declined nationwide.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated Hilltop Youth, an extremist group in the West Bank, under Executive Order 14115. The group is accused of violent actions against Palestinians, including attacks on homes and property, which have destabilized the region.

The U.S. Department of the Treasury and IRS have announced that consumers have saved over $2 billion in upfront costs on the purchase of more than 300,000 clean vehicles since January 1, 2024. This announcement marks a significant milestone in the Biden-Harris Administration's efforts to reduce transportation costs for Americans.

The United States has taken further action against the Russia-based cybercriminal group Evil Corp, identifying and sanctioning additional members and affiliates. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated seven individuals and two entities associated with Evil Corp in coordination with the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) and Australia’s Department of Foreign Affairs and Trade (DFAT).

In August, President Tom Barkin, Regional Executive Renee Haltom, and Regional Community Development Manager Jarrod Elwell met with local community and business leaders in Farmville, Virginia. The meeting aimed to understand the economic strengths and opportunities of the region as part of the Bank’s Community Conversations program.