With this latest monthly payment, since July, Treasury and the IRS will have delivered almost $93 billion dollars in direct payments to families. WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service distributed more than $16 billion in tax relief to the families of approximately 61 million eligible children as a […]
Category Archives: U.S. Treasury
Secretary of the Treasury Janet L. Yellen Sends Letter to Congressional Leadership on the Debt Issuance Suspension Period Extension
WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen sent a letter to members of Congressional leadership regarding an extension of the debt issuance suspension period (DISP). The full text of the letter is also available below. The Honorable Nancy Pelosi Speaker U.S. House of Representatives Washington, DC 20515 Dear Madam Speaker: On […]
Treasury Uses New Sanctions Authority to Combat Global Illicit Drug Trade
President’s Executive Order Modernizes Sanctions to Counter Evolving Drug Threats WASHINGTON — Today, President Biden signed a new Executive Order (E.O.) to modernize the U.S. Department of the Treasury’s sanctions authorities used to combat the illicit drug trade. This E.O. will provide the Treasury Department with new tools to tackle changes in the global illicit […]
Acting Comptroller Issues Statement on RFI on Bank Mergers
News Release 2021-134 | December 14, 2021 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu issued the following statement today regarding the Request for Information on bank mergers. I support the view of the majority of the FDIC Board members that the Bank Merger Act (BMA) guidelines are ripe for review. I am […]
OCC Issues Final Rule to Rescind its 2020 Community Reinvestment Act Rule
News Release 2021-133 | December 14, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) issued a final rule to rescind the June 2020 Community Reinvestment Act (CRA) rule and replace it with a rule based on the rules adopted jointly by the Federal banking agencies in 1995, as amended. This action […]
Remarks by Secretary of the Treasury Janet L. Yellen at 2021 Freedman’s Bank Forum
As prepared for delivery Well, thank you, Madam Vice President, and welcome everyone. We’re honored to host you at Treasury today. This is the Freedman’s Bank Forum, and I know most of us are familiar with the history. Founded by Lincoln in 1865 to help newly freed slaves build wealth, the bank’s books were in […]
Secretary of the Treasury Janet L. Yellen and Vice President Kamala Harris to Announce $8.7 billion in Investments for a More Equitable Economy at 2021 Freedman’s Bank Forum
Treasury will invest more than $8.7 billion in community financial institutions for the purpose of lending in communities disproportionately impacted by the COVID-19 pandemic. WASHINGTON — Today, U.S. Secretary of the Treasury Janet L. Yellen and Vice President Kamala Harris announced the deployment of more than $8.7 billion in investments through the Emergency Capital Investment Program (ECIP) […]
Acting Comptroller of the Currency Kicks Off DC REACh
News Release 2021-132 | December 13, 2021 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, and bankers to launch DC REACh, thereby expanding the OCC’s Project REACh efforts to Washington, D.C. The OCC launched Project REACh, or Roundtable for Economic Access and Change, to bring together leaders […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with the Mid-Size Bank Coalition of America
WASHINGTON — U.S. Secretary of the Treasury Janet L. Yellen met virtually today with the Mid-Size Bank Coalition of America (MBCA), a coalition of banks serving local and regional communities with assets between $10 and $100 billion, to discuss the economic recovery and the Biden-Harris Administration’s economic agenda. Secretary Yellen noted the strength of the […]
Unauthorized Banking: FNB
Alert 2021-6| December 10, 2021 Share This Page: To Chief Executive Officers of All National Banks and Federal Savings Associations; All State Banking Authorities; Chair, Board of Governors of the Federal Reserve System; Chair, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; Deputy Comptrollers (Districts); Assistant Deputy Comptrollers; District Counsels; and All Examining Personnel The […]