The Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during the April – June 2024 quarter, according to a quarterly report released by the Federal Reserve Bank of New York.
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.
The Federal Reserve Bank of New York has announced the appointment of Anat Gourji as chief financial officer and head of the Corporate Group. In this role, she will also join the Bank’s Executive Committee. Her appointment is set to take effect in October 2024.
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 Federal Reserve Bank of New York has announced the appointment of Gary Dake and Nicole Russo to the New York Fed’s Second District Advisory Council, effective immediately.
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.
The Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit, revealing a $109 billion (0.6%) increase in total household debt in Q2 2024, reaching $17.80 trillion. The report utilizes data from the New York Fed’s nationally representative Consumer Credit Panel.
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 Cleveland Federal Reserve has released a new report suggesting that the Inflation Reduction Act (IRA) and the CHIPS and Science Act, both passed in August 2022, could potentially narrow the education earnings gap in areas where new manufacturing plants are being built. This potential outcome is based on observations from the US shale boom.
