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The Latest: Scott Bessent testifies before the House on Treasury Department priorities
The Latest: Scott Bessent testifies before the House on Treasury Department priorities Treasury Secretary Scott Bessent is back on Capitol Hill to testify before the House Ways and Means Committee on the department’s priorities, one day after he refused to say whether President Donald Trump and his family would still get immunity from IRS audits after the administration abandoned plans for a $1.776 billion compensation fund that would have benefited the president’s allies - Bookmark Treasury...
Treasury warns banks of 'red flags' tied to customers in the US illegally
Treasury warns banks of 'red flags' tied to customers in the US illegally The Treasury's financial crimes unit is warning banks about the risks of serving people living in the country illegally - Bookmark Treasury’s financial crimes arm wants banks to help identify payroll schemes tied to people living in the country illegally, as part of the Trump administration's latest measure to clamp down on immigration. The Financial Crimes Enforcement Network — also known a FinCEN — issued an advisory...
Treasury yields fall as investors pin hopes on Israel-Hezbollah ceasefire
U.S. Treasury yields fell on Tuesday, following global yields lower, as President Trump's announcement of a ceasefire between Iran-backed Hezbollah and Israel bolsters investor sentiment. The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — fell more than 4 basis points to 4.434%. The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, fell more than 3 basis points to 4.018%.
Treasury yields edge higher as U.S. and Iran exchange strikes
U.S. Treasury yields rose on Monday after the U.S. and Iran again exchanged military strikes, further clouding the prospects for a deal to end the conflict. The 10-year Treasury yield— the key benchmark for mortgages, auto loans and credit card debt — was up more than 1 basis point in early trade at 4.4729%. Yields on the 2-year Treasury note, which often move in reaction to short-term Federal Reserve rate decisions, were more than 2 basis points higher, at 4.0390%.
Bessent readies Trump $250 bill as one big hurdle stands between Treasury and making it reality
The Treasury Department is preparing a $250 note bearing President Donald Trump’s portrait for the nation’s 250th anniversary, but the bill can only move forward only if Congress changes federal law barring living people from U.S. currency. "It’s all up on Capitol Hill. At Treasury, we prepare things in advance.
Bessent readies Trump $250 bill as one big hurdle stands between Treasury and making it reality
The Treasury Department is preparing a $250 note bearing President Donald Trump’s portrait for the nation’s 250th anniversary, but the bill can only move forward only if Congress changes federal law barring living people from U.S. currency. "It’s all up on Capitol Hill. At Treasury, we prepare things in advance.
Treasury statement on major change to tax on the state pension
Treasury statement on major change to tax on the state pension State pension payments increase each year in line with the triple lock The Treasury has issued a statement about tax on the state pension ahead of a major change coming in soon. The Government announced a new policy on the issue in last year's Autumn Statement. As the state pension increases each year in line with the triple lock, more pensioners are being dragged into paying income tax.
UK Treasury minister says it is inevitable that Britain will rejoin the EU
Embattled British Prime Minister Keir Starmer has pledged to rebuild links with the EU and put the UK "at the heart of Europe". A British Treasury minister has called the United Kingdom's return to the EU "an inevitability". Lord Spencer Livermore, the financial secretary to the treasury, said on Monday that reversing Brexit was "absolutely" in the UK's "national economic interest" while also touting the government's "reset" efforts with Brussels.
CodePink's Medea Benjamin confirms getting 'serious' Treasury Department query over Cuba trip
CodePink co-founder Medea Benjamin publicly confirmed for the first time that her organization received an inquiry from the Treasury Department's Office of Foreign Assets Control (OFAC), seeking detailed information about its March trip to Cuba.The inquiry, which is often called an administrative subpoena, comes as the Trump administration signals a broad effort to increase federal scrutiny of nonprofit organizations operating in foreign-policy and activist spaces. Last October, after the...
CodePink's Media Benjamin confirms getting 'serious' Treasury Department query over Cuba trip
CodePink co-founder Medea Benjamin publicly confirmed for the first time that her organization received an inquiry from the Treasury Department's Office of Foreign Assets Control (OFAC), seeking detailed information about about its March trip to Cuba.The inquiry, which is often called an administrative subpoena, comes as the Trump administration signals a broad effort to increase federal scrutiny of nonprofit organizations operating in foreign-policy and activist spaces. Last October, after...