All Treasury articles

  • Treasury
    Article

    More foreign investments to be scrutinized under Treasury proposals

    2019-10-07T21:07:00Z

    The Committee on Foreign Investment in the United States (CFIUS) will have a bigger role in assessing a deal’s impact on national security after two recent proposals by the Treasury Department.

  • MoneyLaunderingTop
    Article

    Bill requiring shell companies to disclose ownership introduced in Senate

    2019-10-02T19:08:00Z

    Aimed at fighting money laundering, newly proposed legislation looks to mandate full transparency from shell companies on ownership and also fosters greater communication between financial institutions and law enforcement agencies.

  • Libra
    Article

    Congress, Treasury take swings at Facebook’s Libra plan

    2019-07-16T20:51:00Z

    A plan by Facebook to enter the world of virtual currency is attracting predictable skepticism in Washington. It could also expedite the slow emergence of national data protection laws.

  • Blog post

    FASB tees up CECL issues, but not deferral

    2019-02-01T16:55:00Z

    The FASB will meet to discern implementation issues associated with CECL, but the possibility of a deferral in the effective date is not on the agenda.

  • Blog post

    FASB plans January roundtable to address CECL tension

    2018-12-20T09:00:00Z

    Amid growing tension over a pending new standard on recognizing credit losses, the Financial Accounting Standards Board says it will convene a roundtable in January.

  • Blog post

    Tax reform enthusiasm is waning, BDO poll says

    2018-09-13T15:00:00Z

    As the true effects of tax reform unfold, enthusiasm is waning in corporate boardrooms, according to a recent poll.

  • Blog post

    Entities plead for tax guidance on depreciation, losses

    2018-09-06T17:00:00Z

    Nearly 300 companies and associations signed a letter to the U.S. Treasury asking for guidance to edit what they call drafting errors in the Tax Cuts and Jobs Act.

  • russianshipping
    Blog post

    Treasury targets Russian shipping companies

    2018-08-21T13:15:00Z

    The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced that it has targeted Russian shipping firms for violating North Korea-related United Nations Security Council Resolutions.

  • Article

    Treasury looks to bring CRA into the future of modern banking

    2018-05-08T15:30:00Z

    Enacted in 1977, the Community Reinvestment Act has helped ensure fair lending practices in low-income communities. Now, with mobile banking and FinTech revolutions, some say the law needs to be modernized.

  • Article

    Global aspects of tax reform prove particularly difficult

    2018-04-24T08:30:00Z

    Elation morphed into confusion in the first quarter as companies celebrated tax reform, then dug in to figure out what it all means and how to comply.

  • Blog post

    Banking regulators propose new capital rules under CECL

    2018-04-16T14:15:00Z

    Banking regulators are proposing changes to regulatory capital requirements to address forward-looking credit losses under a new accounting standard.

  • Blog post

    Congress presses Treasury for relief on Section 385 proposal

    2016-08-24T08:00:00Z

    Ranking Republicans are pressing the U.S. Treasury to rework its fast-tracked, inversion-attacking proposal that would assign debt treatment to common corporate transactions. Tammy Whitehouse has more.

  • Blog post

    Intercompany accounting woes tallied in new poll

    2016-08-19T11:30:00Z

    Only a small fraction of companies have strong intercompany accounting, but an onslaught of new tax regulations is giving new reason to get it under control. Tammy Whitehouse has more.

  • Blog post

    U.K. Government Curbs Senior Managers Regime

    2015-10-16T12:00:00Z

    The U.K’s Finance Ministry is scrapping a key part of the Senior Managers Regime that demanded senior managers prove that they took the necessary steps to prevent employee misconduct. Instead, a new “duty of responsibility” clause will require senior managers to take only the appropriate steps to prevent a regulatory ...

  • Blog post

    FinCEN Targets Money Laundering in Real Estate Deals

    2015-05-06T16:45:00Z

    Image: Expect a greater focus on the use of real estate holdings as a vehicle for money laundering, Jennifer Shasky Calvery, director of FinCEN, said recently. The goal: “Make it more difficult for criminals to hide their purchases of luxury real estate through the use of shell companies.” Moreover, she ...

  • Blog post

    Who Is the Most Systemic of Them All? JP Morgan

    2015-02-18T13:00:00Z

    Which large U.S. bank would cause the most collateral damage if it were to fail? JP Morgan, according to a new report from the Treasury Department. The report tried to quantify just how much systemic risk exists in banks designated as “Systemically Important Financial Institutions,” and JP Morgan topped the ...

  • Blog post

    Treasury Issues Amendments to Cuba Sanctions

    2015-01-16T13:30:00Z

    The Department of the Treasury’s Office of Foreign Assets Control and the Department of Commerce today published amendments to the Cuban Assets Control Regulations to implement policy changes announced by the President last month. The newly revised regulations, in part, allow a number of activities related to telecommunications, financial services, ...

  • Blog post

    U.S. Treasury Names First Chief Risk Officer

    2015-01-05T11:15:00Z

    The Department of Treasury has appointed Kenneth Phelan to the newly-created position of chief risk officer. He reports directly to Sarah Bloom Raskin, Deputy Secretary of the Treasury. Details inside.

  • Article

    Regulators Publish Latest Thinking on AML Compliance

    2014-12-16T12:45:00Z

    Image: Financial regulators have just updated their examination manual for anti-money laundering compliance, giving financial firms plenty of holiday reading on how they should structure their AML programs. “The big changes are in areas where things have moved forward: virtual currency, prepaid cards, changes in the SAR rules, aggregation for ...

  • Article

    As Tech Firms Enter the Payments Space, Regulators Are Watching

    2014-10-28T09:30:00Z

    Last month Apple plunged into the world of payment processing with its Apple Pay service that allows its mobile devices to make payments at retailers. Rivals Google, Microsoft, and Facebook have already dabbled in the market that includes Pay Pal and several others. These disruptive technologies may prompt regulators to ...