Treasury to review its compliance, enforcement efforts

The Treasury Department on Thursday announced steps it is taking to improve its own compliance efforts, including a reassessment of the way it pursues enforcement actions.

The changes were announced in a memo released by Deputy Secretary of the Treasury Wally Adeyemo. They apply generally to all divisions of the Treasury, excluding the Offices of Inspectors General and the Office of the Comptroller of the Currency.

“The Treasury Department provides critical services that touch the lives of millions of American families, workers, and businesses,” said Adeyemo in a press release. “Today’s announcement is part of a comprehensive strategy directed by Secretary [Janet] Yellen to promote fairness and accountability in our compliance and enforcement efforts as we safeguard against waste, fraud, and abuse.”