The U.S. Department of the Treasury and the Internal Revenue Service (IRS) issued a Notice of Proposed Rulemaking and additional guidance on the Alternative Fuel Vehicle Refueling Property Credit, as expanded by the Biden-Harris Administration’s Inflation Reduction Act.
Traffic was so rare on the road in Lewiston, Maine, where David Chittim and his wife bought an old farmhouse in the late 1970s, that they’d jump to look out the window every time a car passed by. The newlyweds, both 27, moved to the house because it was something they could afford and fix up themselves. But even though it was just a few miles from the city’s downtown, Chittim said they were “essentially isolated.”
On September 18, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 12 individuals linked to the Iranian regime's violent repression of its people, both domestically and internationally. These designations target members of the Islamic Revolutionary Guard Corps (IRGC), officials from Iran’s Prisons Organization, and those responsible for lethal operations overseas. This action was coordinated with Canada and Australia, which have also announced new sanctions against those connected to human rights abuses in Iran.
The U.S. Department of the Treasury has announced an award of $7.9 million to the Arizona Commerce Authority (ACA) to support small business growth under the Biden-Harris Administration’s State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP).
Global investment firm Carlyle (NASDAQ: CG) announced an agreement to purchase up to $300 million of equity sharing home loans from Unison, a pioneer in equity sharing agreements. Carlyle also made a strategic investment into Unison, facilitating the launch of the Unison Equity Sharing Home Loan product, which allows homeowners to access their growing pool of home equity.
MEXICO CITY – Assistant Secretary for Investment Security Paul Rosen traveled to Mexico City, Mexico, for meetings with the Government of Mexico and business and investment community leaders. He also provided remarks at the International Bar Association Annual Conference.
Total assets, shares and deposits, and membership at federally insured credit unions declined at the median over the year ending in the second quarter of 2024, while loans outstanding increased, according to the latest Quarterly U.S. Map Review released today by the National Credit Union Administration (NCUA).
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned five individuals and one entity associated with the Intellexa Consortium for their involvement in developing, operating, and distributing commercial spyware technology. This action is part of broader U.S. government efforts to counter commercial spyware vendors.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned four individuals in Georgia for actions undermining fundamental freedoms, including freedom of expression. The sanctions target two Georgian government officials and two private citizens involved in violently suppressing peaceful protests and political opposition.
Global investment firm Carlyle (NASDAQ: CG) announced a strategic partnership with North Bridge ESG LLC ("North Bridge") to provide up to $1 billion for the origination of commercial property assessed clean energy (C-PACE) loans. This collaboration aims to leverage Carlyle's expertise in strategic growth, real estate, and asset-backed finance to enable North Bridge to meet evolving market demands on a larger scale.
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have issued a Notice of Proposed Rulemaking (NPRM) to implement section 139E of the Internal Revenue Code, established by the Tribal General Welfare Exclusion Act of 2014. This Act allows Tribal governments to provide non-taxable assistance and benefits to Tribal members, which are excluded from their gross income for federal income tax purposes.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned 16 officials aligned with Venezuelan President Nicolas Maduro, citing their roles in obstructing a competitive and inclusive presidential election process and violating civil and human rights. These actions are pursuant to Executive Order (E.O.) 13692, as amended.
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have issued a Notice of Proposed Rulemaking (NPRM) aimed at increasing tax fairness and addressing significant corporate tax avoidance by some of the largest and most profitable U.S. corporations. This move seeks to implement the Corporate Alternative Minimum Tax (CAMT), a key component of the Inflation Reduction Act.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Cambodian businessman Ly Yong Phat, his conglomerate L.Y.P. Group Co., LTD, and O-Smach Resort for their involvement in serious human rights abuses linked to the treatment of trafficked workers subjected to forced labor in online scam centers. OFAC has also designated Cambodia-based Garden City Hotel, Koh Kong Resort, and Phnom Penh Hotel for being owned or controlled by Ly.
The Economic Opportunity Coalition (EOC), launched by Vice President Kamala Harris in July 2022, comprises over two dozen companies committed to investing in small businesses within underserved communities. These efforts aim to address economic disparities and stimulate local economic activity. To date, the EOC has announced $1 billion in deposits with Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) through partnerships with private companies.
Sedgwick, a global provider of claims management and technology-enabled business solutions, announced a strategic investment from Altas Partners, a North American private equity firm. Existing investors, including Carlyle and Stone Point Capital LLC, will continue their investments in Sedgwick, with Carlyle maintaining its control position.
Today, Deputy Secretary Wally Adeyemo and Deputy Assistant Secretary Todd Conklin met with Bank Policy Institute leaders and Chief Executive Officers to discuss cybersecurity and the operational resilience of the broader financial sector. The group discussed opportunities to continue to scale Treasury’s Project Fortress to leverage the support of larger institutions and federal government assets to provide support to smaller financial institutions. The group also discussed ongoing public/private partnership work specific to bolstering the resilience of critical federal...
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned three individuals, five companies, and two vessels involved in smuggling oil and liquified petroleum gas (LPG) to generate revenue for Hizballah. This network, comprising Lebanese businessmen and companies overseen by a senior leader of Hizballah’s finance team, has facilitated numerous LPG shipments to the Government of Syria, channeling profits to Hizballah. These operations generate significant revenue for Hizballah and support its terrorist activities.
The U.S. Department of the Treasury has awarded over $4 million to the Nevada Governor’s Office of Economic Development under the State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP). The funding aims to support small businesses in key economic sectors, including rural and Tribal businesses, healthcare enterprises, and advanced manufacturers within the clean energy sector.
