The Treasury Department has unveiled a new enforcement website for the Committee on Foreign Investment in the United States (CFIUS), aimed at enhancing transparency and providing detailed guidance regarding CFIUS penalties and other enforcement actions. This update is part of an ongoing effort to strengthen CFIUS as a national security tool.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced new sanctions targeting 19 individuals, 14 entities, and one aircraft under Belarus-related Executive Order (E.O.) 14038. These measures are aimed at those involved in supporting Russia’s war in Ukraine through military resource production, transshipment of goods to Russia, sanctions evasion on behalf of Belarusian defense entities, and revenue generation for Belarusian oligarchs within Alyaksandr Lukashenka’s inner circle. Additionally, five targets—three individuals and two...
The Group of Creditors of Ukraine (GCU) has expressed approval for the agreement in principle reached between Ukraine and its bondholders on Eurobond debt restructuring terms.
The U.S. Department of the Treasury and Internal Revenue Service (IRS) announced today that Connecticut will join IRS Direct File for Filing Season 2025. This initiative, enabled by President Biden’s Inflation Reduction Act, aims to improve customer service and ensure taxpayers claim eligible benefits and deductions.
On July 23 and 24, the United States, Italy, and Saudi Arabia hosted the 20th meeting of the Counter ISIS Finance Group (CIFG) virtually under the Global Coalition to Defeat ISIS. The U.S. Treasury Department and the U.S. Department of State jointly represented the United States at this event, which included over 50 member states and observers.
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced the launch of a public service announcement (PSA) campaign to educate small business owners about new beneficial ownership reporting requirements. The PSAs, which are being broadcast on television and radio nationwide, aim to inform business owners and stakeholders about these requirements and encourage compliance. This initiative complements ongoing digital and print advertising efforts.
Secretary of the Treasury Janet L. Yellen issued a statement on August 8, 2024, regarding the disbursement of $3.9 billion in direct budget support for Ukraine.
In 2023, more than 117,000 Michigan families saved over $134 million on clean energy and energy efficiency investments, according to new data released by the U.S. Department of the Treasury (Treasury). This announcement comes ahead of the two-year anniversary of the Inflation Reduction Act.
The U.S. Department of the Treasury, the Consumer Financial Protection Bureau (CFPB), and the Federal Trade Commission (FTC) announced measures today aimed at addressing unfair and deceptive consumer practices in the residential solar power sector. The agencies released Consumer Advisories to help the public identify potential unfair practices and encouraged consumers to report suspicious behavior to the FTC, CFPB, or state consumer protection offices.
The U.S. Department of the Treasury has released new data showing that more than 189,000 New York families saved over $374 million on clean energy and energy efficiency investments in 2023, thanks to tax credits provided under the Inflation Reduction Act. This marks the first public release of such data from 2023 tax filings.
On July 31, Deputy Secretary of the Treasury Wally Adeyemo met with the leadership of the 11 Federal Home Loan Banks (FHLBs) and Sandra Thompson, Director of the Federal Housing Finance Agency (FHFA), to discuss measures for enhancing affordable housing development.
On August 6, 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Paraguayan tobacco company Tabacalera del Este S.A. (Tabesa) for providing financial support to Paraguay’s former president, Horacio Manuel Cartes Jara. Cartes was sanctioned by OFAC on January 26, 2023, for his involvement in corruption. The designation of Tabesa falls under Executive Order (E.O.) 13818, which implements the Global Magnitsky Human Rights Accountability Act and targets perpetrators of serious human rights abuse and corruption globally.
The U.S. Department of the Treasury has announced the approval of up to $83 million in State Small Business Credit Initiative (SSBCI) funds for a consortium of 125 Alaska Tribes. This investment, funded by the Biden-Harris Administration’s American Rescue Plan (ARP), supports the largest Tribal SSBCI consortium in history and aims to drive economic growth among Alaska's Tribal communities.
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced today that New Mexico will join IRS Direct File for Filing Season 2025. This initiative, made possible by President Biden’s Inflation Reduction Act, aims to enhance customer service and ensure taxpayers claim eligible benefits and deductions.
