Treasury Department

The Treasury will no longer enforce Corporate Transparency Act reporting rules for U.S. businesses, a move critics say weakens anti-money-laundering efforts.

Notably, Trump described the January decision to hold rates steady – which looks set to be the Fed's stance for some time — as "the right thing to do."

A federal district court in Texas has stayed an injunction that had prevented enforcement of the Corporate Transparency Act and its reporting requirement.

The probes come at the request of Sens. Elizabeth Warren, D-Mass., and Ron Wyden, D-Ore., respectively the ranking members of the Senate Banking and Senate Finance committees.

Elon Musk will dispatch a team to gain read-only access to the government's central accounting system.

Luke Pettit could have an expanded role compared to previous assistant secretaries for financial institutions as President Donald Trump eyes Treasury lead for deregulatory agenda.

Elizabeth Warren, Shontel Brown and Patty Murray are among those questioning Elon Musk's team's ability to access sensitive data and install email services in government agencies.

Tom Krause, the chief executive of Cloud Software Group, and Marko Elez, an engineer who has worked for SpaceX and social-media platform X, have offices in the Treasury Department, according to sources.

As Elon Musk and his associates gain access to internal computers, Oregon Democratic Sen. Ron Wyden slammed the move and said it poses a national security risk. Musk said the Treasury system isn't adequately fighting fraud and is also attempting to shut down USAID.

The final vote was 68-29 in favor of Senate the confirmation of the billionaire hedge fund manager.

The Supreme Court nullified one of two nationwide injunctions on the Corporate Transparency Act, a law requiring corporations to disclose their beneficial owners. A separate injunction in another circuit remains in effect, however. 

The hedge fund manager and Trump advisor also lent support to the idea of reconsidering deposit insurance limits for some kinds of accounts, such as those used for payrolls.

The president-elect has announced members of his senior leadership team at the Treasury, who'll work alongside Scott Bessent, his pick for secretary.

Scott Bessent, President-elect Donald Trump's pick to serve as Treasury secretary, is aiming to build support for his nomination

Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.

The contract gives the nation's oldest bank access to more than $3 billion in deposits a month. Comerica, the current administrator, has received a three-year extension of service to help with the transfer.

The Treasury's financial crimes arm alerted banks to the dangers of AI-powered fraud, urging close monitoring and swift reporting of any suspicious activity.

Treasury Secretary Janet Yellen announced an initiative aimed at enhancing financial inclusion. The plan includes calling on U.S. banks to participate in upholding fairness and expanding consumer financial access.

The federal Project Fortress initiative provides defensive tools for banks. Community banking groups and regulators' associations say small banks in particular need the free and accessible help.

Project Fortress encompasses four initiatives Deputy Secretary Wally Adeyemo hopes will "improve the security and resilience of the financial services sector."