All Treasury articles
-
ArticleTreasury ransomware response: More sanctions, updated FinCEN guidance
The U.S. Treasury continued its crackdown on facilitators of ransomware payments, sanctioning a second virtual currency exchange and its affiliates and updating FinCEN guidance to help make financial institutions more aware of related red flags.
-
ArticleCCOs, take note: ESG is having its moment
The Biden administration is not so quietly making big moves in the area of ESG regulatory initiatives that should give CCOs the cachet to elevate these issues closer to the top of the priority list at their organizations.
-
ArticleYellen, regulators say market withstood pressure from GameStop surge
A key meeting of regulators has determined the recent spike caused by Reddit users for normally tame stocks like GameStop and AMC Entertainment has not had a significant impact on the market, which Treasury Secretary Janet Yellen termed “resilient.”
-
ArticleFinCEN advisory details coronavirus risks for financial industry
The Financial Crimes Enforcement Network has issued what it says is the first of several advisories concerning financial crimes related to the COVID-19 pandemic.
-
ArticleUK Finance slams overregulation in financial services sector
UK Finance, the U.K. regulator responsible for the financial services sector, is offering recommendations to curb the abundance of intersecting rules in FS.
-
ArticleMore foreign investments to be scrutinized under Treasury proposals
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.
-
ArticleBill requiring shell companies to disclose ownership introduced in Senate
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.
-
ArticleCongress, Treasury take swings at Facebook’s Libra plan
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
FASB tees up CECL issues, but not deferral
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
FASB plans January roundtable to address CECL tension
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
Tax reform enthusiasm is waning, BDO poll says
As the true effects of tax reform unfold, enthusiasm is waning in corporate boardrooms, according to a recent poll.
-
Blog
Entities plead for tax guidance on depreciation, losses
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.
-
BlogTreasury targets Russian shipping companies
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
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
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
Banking regulators propose new capital rules under CECL
Banking regulators are proposing changes to regulatory capital requirements to address forward-looking credit losses under a new accounting standard.
-
Blog
Congress presses Treasury for relief on Section 385 proposal
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
Intercompany accounting woes tallied in new poll
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
U.K. Government Curbs Senior Managers Regime
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
FinCEN Targets Money Laundering in Real Estate Deals
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 ...