No deals are currently on the horizon. The deadline to increase the federal debt limit is only weeks away—December 15. Senate Majority Leader Chuck Schumer of New York and…
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Banking Industry Concerned with Comptroller Nominee
She has proposed major changes to the nation’s banking system. America’s national banking system regulates banks through state or federal charters and regulations. Banks apply for a national…
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Administration Issues Iranian Drone-Related Sanctions
The action comes after Iranian drone program targeted U.S. troops in the region. On Friday, President Biden’s administration sanctioned a top Iranian military official for his role in…
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Treasury Department Names Racial Equity Counselor
New program will look at banking and other financial services industries. Treasury Secretary Janet Yellen announced the hiring of a former JPMorgan Chase executive to head a new government program…
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Budget Results Released for Fiscal Year 2021
Treasury secretary and acting OMB director issue joint statement. U.S. Treasury Secretary Janet Yellen and White House Office of Management and Budget Acting Director Shalanda Young released a…
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President Signs Bill Temporarily Raising Debt Limit
Federal default averted until December. President Joe Biden signed legislation on Thursday temporarily increasing the government’s borrowing limit to $28.9 trillion, delaying the deadline for debt default until…
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Senate to Vote on Temporary Debt-Ceiling Increase
Leaders agree on a compromise to carry through December 3. On Thursday, Senate Majority Leader Chuck Schumer announced an agreement had been reached with Minority Leader Mitch McConnell…
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Taliban Barred from Afghan Funds in U.S. Banks
Treasury Department froze billions in the accounts. Treasury Secretary Janet Yellen and officials in the Department of the Treasury’s Office of Foreign Assets Control directed the freezing of…
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U.S. Debt Ceiling Deadline Missed
Treasury Department beginning “extraordinary measures.” Congress limits how much money the government can borrow, and once the debt limit is reached, legislators must raise or suspend the debt…
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Administration Imposes New Sanctions on Syria
Eight individuals and 10 entities have been blacklisted. The U.S. Department of the Treasury on Wednesday imposed fresh Syria-related sanctions on individuals and entities, increasing pressure on President…
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