On July 12, 2024, Secretary of the Treasury Janet L. Yellen delivered remarks at the Freedman’s Bank Summer Symposium. The event was attended by Deputy Secretary Wally Adeyemo and other colleagues.
The U.S. Department of the Treasury and Internal Revenue Service (IRS) have announced a significant milestone in their initiative to collect past-due tax debt from high-income, high-wealth individuals. This effort, enabled by resources from President Biden’s Inflation Reduction Act, has recovered over $1 billion to date.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Tren de Aragua, a Venezuela-based transnational criminal organization. The group is involved in various criminal activities across the Western Hemisphere, including human smuggling and trafficking, gender-based violence, money laundering, and illicit drug trafficking.
Secretary of the Treasury Janet L. Yellen met with Israeli Foreign Minister Israel Katz today on the sidelines of the NATO Summit in Washington, DC. Secretary Yellen reaffirmed the Treasury’s strong commitment to Israel’s security.
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.
The U.S. Department of the Treasury has issued a call for Large Position Reports from entities whose positions in the 4-3/4% Treasury Bonds of November 2043 equaled or exceeded $1.6 billion as of December 19, 2023, or December 29, 2023.
On Friday, July 12, 2024, the U.S. Department of the Treasury will host the annual Freedman’s Bank Forum in Raleigh, North Carolina. The event will feature U.S. Deputy Secretary of the Treasury Wally Adeyemo, Governor Roy Cooper, Biden-Harris Administration officials, and key leaders from various sectors. The forum aims to highlight efforts to increase economic opportunities for communities of color and showcase local success stories around Raleigh.
The U.S. Department of the Treasury, as Chair of the Committee on Foreign Investment in the United States (CFIUS), has issued a Notice of Proposed Rulemaking (NPRM) to expand CFIUS’s jurisdiction over certain real estate transactions by foreign persons near specified military installations. This expansion follows legislation passed by Congress in 2018, granting CFIUS authority to review such transactions and take appropriate action when necessary.
On Wednesday, July 10, U.S. Deputy Secretary of the Treasury Wally Adeyemo will travel to Philadelphia, Pennsylvania, to discuss how the Biden-Harris Administration’s economic agenda is creating good-paying clean energy jobs and continuing the historic small business boom by expanding access to capital.
The United States of America, the Republic of Indonesia, and four non-governmental organizations (NGOs) have signed debt-for-nature swap and coral reef conservation agreements under the Tropical Forest and Coral Reef Conservation Act (TFCCA). The agreements, signed on July 3, 2024, will reduce Indonesia’s debt payments to the United States Government by $35 million over the next nine years. In exchange, Indonesia has committed these funds to support grants aimed at protecting and restoring the country's coral reef ecosystems through a newly established conservation fund.
U.S. Secretary of the Treasury Janet L. Yellen held a call with United Kingdom Chancellor of the Exchequer Rachel Reeves today, congratulating her on her historic appointment as the first female Chancellor of the Exchequer. Secretary Yellen underscored the significance of the U.S.-UK bilateral relationship.
The U.S. Department of the Treasury has announced the approval of plans for an additional $10 million in technical assistance (TA) funding allocated to four states, two territories, the District of Columbia, and one Tribal government under the American Rescue Plan Act’s State Small Business Credit Initiative (SSBCI) TA Grant Program. This includes the first SSBCI TA grant for a Tribal government.
The U.S. Department of the Treasury has announced the approval of Alabama’s state plan for up to $97 million in funding through the American Rescue Plan Act’s State Small Business Credit Initiative (SSBCI). The initiative provides financial support to states, the District of Columbia, territories, and Tribal governments to bolster small businesses and entrepreneurship by expanding access to capital.
The U.S. Department of the Treasury has announced the approval of plans for up to $65 million in funding allocated to 18 Tribal governments under the American Rescue Plan’s State Small Business Credit Initiative (SSBCI). This initiative marks the largest one-time investment for Tribal governments in small business financing in U.S. history.
Brussels — The EU–U.S. Joint Financial Regulatory Forum convened on June 25-26, 2024, with participants discussing various topics of mutual interest as part of their regular financial regulatory dialogue. The European Commission and the U.S. Department of the Treasury hosted the dialogue.
On Tuesday, June 25, the Office of the Vice President and the U.S. Department of the Treasury co-hosted a stakeholder meeting for the Initiative for Inclusive Entrepreneurship (IIE). This 18-month national pilot program was announced by Vice President Harris at Treasury’s 2022 Freedman’s Bank Forum to expand access to capital for small businesses that have lacked opportunity and need additional investment to grow and hire. IIE integrates philanthropic and private capital to enhance the impact of Treasury’s nearly $10 billion State Small Business Credit Initiative (SSBCI),...
Washington — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a Mexico-based money launderer and China-based members of a money laundering organization linked to the Sinaloa Cartel. This action is part of ongoing efforts to disrupt the flow of illicit narcotics into the United States, aligning with the President’s Unity Agenda.
