Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned one Chinese government entity and two current or former government officials in connection with serious rights abuses against ethnic minorities in the Xinjiang Uyghur Autonomous Region (XUAR). These designations include the Xinjiang Production and Construction Corps (XPCC), Sun Jinlong, […]
Category Archives: U.S. Treasury
Treasury and United States Postal Service Reach Agreement on Terms of CARES Act Loan
WASHINGTON – Today the U.S. Department of the Treasury announced that it had reached an agreement with the United States Postal Service (USPS) on the material terms and conditions of a loan of up to $10 billion to the USPS under Section 6001 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The loan […]
Treasury Continues to Pressure Investors and Companies Supporting the Assad Regime’s Corrupt Reconstruction Efforts
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned one individual and nine entities for enriching the Syrian regime through construction of luxury real estate. This action is the Treasury Department’s second sanctions action pursuant to the Caesar Syria Civilian Protection Act of 2019 (Caesar Act). OFAC previously […]
Treasury Designates Key ISIS Financial Facilitators in the Middle East
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two Islamic State of Iraq and Syria (ISIS) financial facilitators located respectively in Syria and Turkey for providing financial support to ISIS. This action coincides with the thirteenth meeting of the Counter ISIS Finance Group (CIFG), which includes over […]
Statement from Secretary Steven T. Mnuchin on the Extension of Facilities Authorized Under Section 13(3) of the Federal Reserve Act
WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the extension of emergency lending facilities authorized under section 13(3) of the Federal Reserve Act: “I have sent a letter to Federal Reserve Board Chairman Jerome Powell approving a three month extension of the Primary Dealer Credit Facility, Money Market Mutual Fund […]
Treasury Targets Individuals Supporting Illegitimate Maduro Regime’s Corruption
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated brothers Santiago Jose Moron Hernandez (Santiago) and Ricardo Jose Moron Hernandez (Ricardo) for, respectively, providing support for Nicolas Ernesto Maduro Guerra (Maduro Guerra) and the corrupt activities of members of the illegitimate regime of his father, Nicolas Maduro Moros […]
Federally Chartered Banks and Thrifts May Provide Custody Services For Crypto Assets
News Release 2020-98 | July 22, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today published a letter clarifying national banks’ and federal savings associations’ authority to provide cryptocurrency custody services for customers. National and state banks and thrifts have long provided safekeeping and custody services, including both physical objects and […]
Office of the Comptroller of the Currency Issues Proposed True Lender Rule
News Release 2020-97 | July 20, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today proposed a rule that would determine when a national bank or federal savings association (bank) makes a loan and is the “true lender” in the context of a partnership between a bank and a third party. […]
Keynote Remarks by Assistant Secretary Feddo at the American Conference Institute’s Sixth National Conference on CFIUS
As prepared for delivery: July 15, 2020 Washington, DC INTRODUCTION Good morning. Thank you for your introduction and for inviting me to the event. I appreciate the importance, especially now, of coming together in creative ways, such as this conference, to exchange views, hear different perspectives, and understand priorities and realities in government and industry. […]
Acting Comptroller of the Currency Joins Senator Tim Scott and HUD Secretary Ben Carson to Promote Access to Capital in Underserved Areas
News Release 2020-96 | July 17, 2020 Share This Page: CHARLESTON, S.C.—Acting Comptroller of the Currency Brian Brooks today joined Senator Tim Scott and Secretary of Housing and Urban Development Ben Carson to raise awareness of investment and lending related to Opportunity Zones, which also may receive credit under the Office of the Comptroller of the […]