Treasury: Request for Information Released Related to the Executive Order 14247 “Modernizing Payments To and From America’s Bank Account”
Today, the U.S. Department of the Treasury (Treasury) released a request for information related to the Executive Order (EO) 14247 “Modernizing Payments To and From America’s Bank Account,” which transitions federal disbursements to electronic payments. Beginning September 30, 2025, all federal payments that are currently made by paper check—including Social Security benefits, tax refunds, and vendor payments—will be…
Treasury: Readout Provided for Treasury Roundtable on Opportunities to Lower Costs and Maintain Availability of Homeowners Insurance
Today, the Federal Insurance Office (FIO) at the U.S. Department of the Treasury hosted a roundtable discussion with representatives from the insurance sector, including insurers, reinsurers, brokers, state regulators, resilience and consumer groups, and academics to discuss ways to lower costs and maintain availability of homeowners insurance as part of the Trump Administration’s efforts to…
CDFI Fund: Upcoming CDFI Certification Deadline and Service Request Cutoff Date Announced
Last June, the Community Development Financial Institutions Fund (CDFI Fund) released the General Reapplication Submission Deadlines for the CDFI Certification Application for all Certified CDFIs. The first reapplication submission window, Window 1, closes on May 31, 2025. To avoid delays or loss of Certification, organizations must act now to prepare their submissions and resolve outstanding issues. Cut-off for…
CDFI Fund: Virtual TLR Office Hours for General CDFI Recertification Applicants Announced
The Community Development Financial Institutions Fund (CDFI Fund) will now host four (4) one-hour virtual office hour sessions to help CDFI Certification Applicants understand how to complete the Transaction Level Report (TLR). All organizations are required to submit a TLR as part of their CDFI Certification reapplication and then on an annual basis as part…
ABA: Treasury Secretary Bessent Partners with ABA Foundation to Promote “Teach Children to Save Day”
Secretary Bessent records video message for students, teachers and banker volunteers participating in the ABA Foundation’s 28th annual Teach Children to Save Day Demonstrating his strong commitment to promoting financial literacy, Treasury Secretary Scott Bessent is partnering with the ABA Foundation in support of its annual Teach Children to Save program. As part of Teach Children…
Treasury: Action Taken to Unleash Financial Sector and Unburden Small Businesses through Elimination of Unnecessary, Duplicative, and Costly Regulations
Today, the U.S. Department of the Treasury (Treasury), including the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN), will take immediate action to eliminate 15 rules and guidance materials. This is in addition to two rules recently rescinded by the Office of the Comptroller of the Currency (OCC). The rules range from…
Treasury: Meeting Held to Launch National Financial Literacy Month Collaboration
Today, U.S. Treasury Secretary Scott Bessent met with John Hope Bryant, Founder, Chairman, and CEO of Operation HOPE, to mark the start of National Financial Literacy Month and advance their shared commitment to financial empowerment for all Americans. The meeting centered on the Financial Literacy for All (FL4A) initiative—a national effort led by Bryant to…
Treasury: Publication of Interim Final Rule Announced Removing Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons
The Treasury Department announces today the formal publication of the Financial Crimes Enforcement Network (FinCEN) interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act and narrows the scope of the rule to foreign reporting companies. This publication in the Federal…
ABA: ABA Welcomes White House Executive Order Phasing Out U.S. Treasury Paper Checks
“We welcome President Trump’s executive order mandating that the federal government cease issuing paper checks for all disbursements, including government benefits and tax refunds. Despite a continued decline in business and consumer use of checks, check fraud has continued to rise. That is why ABA and banks across the country launched the #PracticeSafeChecks campaign last October to…
ICBA: ICBA Applauds Treasury Secretary Bessent for Pro-Community Bank Remarks and Support for Independence of Prudential Banking Regulators
The Independent Community Bankers of America (ICBA) today applauded Treasury Secretary Scott Bessent for his remarks supporting community banks and committing to the continued independence of the nation’s prudential banking regulators and dual banking system. “ICBA and the nation’s community banks strongly support Secretary Bessent’s remarks on the positive role of community banks to Main…