WASHINGTON – On Wednesday, June 26, the Department of the Treasury (Treasury) and the Consumer Financial Protection Bureau (CFPB) co-hosted a virtual roundtable to discuss federal government efforts to promote access to financial products and services while protecting the U.S. financial system from illicit actors and bolstering national security, as well as ensuring compatibility with […]
Category Archives: U.S. Treasury
Treasury Expands Targeted Sanctions on Iranian Petroleum and Petrochemical Sectors in Response to Attack on Israel
WASHINGTON — Today, the United States is expanding sanctions on Iran’s petroleum and petrochemical sectors in response to Iran’s October 1 attack on Israel, its second direct attack on Israel this year. This action intensifies financial pressure on Iran, limiting the regime’s ability to earn critical energy revenues to undermine stability in the region and attack […]
Remarks by Under Secretary for International Affairs Jay Shambaugh on the Essential Role of the International Financial Institutions for the Global and U.S. Economies
As Prepared for Delivery Thank you, Josh, for your kind introduction, and to the Atlantic Council for having me. It is a pleasure to be here today. In ten days, we’re going to have nearly the entire global financial policymaking apparatus descend on Washington, D.C. for the IMF and World Bank Annual Meetings. Gatherings like these […]
U.S. Department of the Treasury Guarantees $498 Million in Bond Funding for Projects in Low-Income Communities, Marking Largest Bond Issuance in Program History
WASHINGTON – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced an agreement to issue three guarantees worth $498 million under the CDFI Bond Guarantee Program, the largest issuance in the program’s history. The CDFI Bond Guarantee program provides long-term, fixed-rate capital for projects in low-income urban, rural, and Native […]
OCC Issues Cease and Desist Order, Assesses $450 Million Civil Money Penalty, and Imposes Growth Restriction Upon TD Bank, N.A. for BSA/AML Deficiencies
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a cease and desist order and a $450 million civil money penalty against TD Bank, N.A. and TD Bank USA, N.A. (bank), for deficiencies in the bank’s Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance program. Today’s action also imposes a restriction on […]
U.S. Department of the Treasury Highlights $4.8 Million Award to Help Mississippi Small Businesses Grow and Hire
WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) highlighted the Mississippi Development Authority (MDA)’s $4.8 million award to support small business growth. This award is one of 14 recently announced through the Biden-Harris Administration’s State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP). Mississippi’s initiative will be supported […]
Remarks by Deputy Secretary of the Treasury Wally Adeyemo at Press Conference at the Department of Justice
As Prepared for Delivery Thank you. I am glad to join Attorney General Garland, Deputy Attorney General Monaco, and the rest of you here today. I applaud DOJ’s efforts. I won’t speak to its case, but to the separate investigation that Treasury’s Financial Crimes Enforcement Network undertook and the action we’ve taken. The Department of […]
Remarks by Under Secretary for Domestic Finance Nellie Liang at the Chicago Payments Symposium, hosted by the Federal Reserve Bank of Chicago
I. Introduction Good afternoon and thank you to the Federal Reserve Bank of Chicago for hosting this event and inviting me to speak. Two years ago, Treasury published a report called The Future of Money and Payments in light of the changing landscape of money and payments.[i] Since then, we have continued to evaluate the […]
U.S. Department of the Treasury Releases Fact Sheet Detailing Investments in the Latino Community
WASHINGTON – Today, in recognition of Hispanic Heritage Month, the U.S. Department of the Treasury (Treasury) released a fact sheet detailing the critical contributions of Latinos to the U.S. economy and benefits of the Administration’s economic agenda for Latino families, small businesses, and communities. When President Biden and Vice President Harris came into office at […]
Remarks by Under Secretary for Domestic Finance Nellie Liang “Modernizing the Regulatory Framework for Domestic Payments” at the Chicago Payments Symposium, hosted by the Federal Reserve Bank of Chicago
I. Introduction Good afternoon and thank you to the Federal Reserve Bank of Chicago for hosting this event and inviting me to speak. Two years ago, Treasury published a report called The Future of Money and Payments in light of the changing landscape of money and payments.[i] Since then, we have continued to evaluate the […]