Treasury Department

Industry groups and consumer advocates are continuing to push for regulators to interpret the GENIUS Act's prohibition on stablecoin interest as broadly as possible, while crypto firms push for a narrower interpretation, arguing that increased competition would benefit consumers.

The lawmakers suggest ties between the former Binance chief and the Trump family could have led to the pardon.

The Trump administration has ordered banking agencies to root out and identify instances of politically motivated debanking while at the same time raising pressure on banks to scrutinize or potentially sever their ties with liberal nonprofit clients. That dynamic creates a compliance puzzle with no obvious answers, experts say.

Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.

A new interagency guidance clarifies when banks must report suspicious activity, easing compliance workloads and narrowing the reporting requirements to focus on higher-value cases.

The Senate confirmed former Federal Deposit Insurance Corp. board member Jonathan McKernan to serve as Treasury's under secretary for domestic finance on a party-line vote, installing a key industry ally in the Treasury Department.

The Office of Management and Budget has prevented billions of dollars from flowing to community development financial institutions, preventing those funds from supporting housing development.

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.