Treasury Department

The Treasury Department proposed a rule delaying investment adviser AML requirements to 2028 and sought public comment on implementing regulations for a stablecoin bill passed earlier this summer.

The Treasury Department has designated Fifth Third as the financial agent for its Direct Express prepaid card program. The decision marks a reversal from late last year, when BNY reached a five-year agreement with Treasury.

Sen. Ron Wyden says Treasury is sitting on thousands of Epstein-related banking records including wire transfers, payments and suspicious activity reports that could expose the financial industry to scrutiny over its involvement in Epstein's sex-trafficking scheme.

Proposed cuts to the Treasury's Office of Financial Research would deprive the government of vital insight into the financial markets at a time when the sector is experiencing major disruptions.

The legislation would direct the department to assess the federal government's ability to respond to a host of systemic challenges including war, pandemic and financial crisis.

The group expressed concern with the White House proposal to reduce the program's funding, and urged Appropriators to fund the bipartisan-backed Community Development Financial Institutions Fund.

Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.

The ABA's new service adds payee name validation to help banks fight growing fraud risks.

The president should unwind the federal government's stake in Fannie Mae and Freddie Mac, and direct the proceeds to a housing remainder trust designed to close critical gaps in real estate lending.

Deputy Treasury Secretary Michael Faulkender says Basel capital rules need to fit the U.S. economy and avoid discouraging banks from lending.