CDFI Fund: U.S. Department of the Treasury Announces FY 2025 and FY 2026 Awards for Multiple CDFI Fund Programs
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced awards for the FY 2025 Community Development Financial Institutions (CDFI) and Native American CDFI Assistance (NACA) Programs, and the FY 2026 Bank Enterprise Award (BEA) and Small Dollar Loan (SDL) Programs. The awards announced today will collectively support the increase of…
Treasury: IRS Proposes Rule to End Tax-Exempt Status for Discriminatory Practices in Private Schools
The Department of the Treasury and the Internal Revenue Service (IRS) have issued proposed regulations to end federal tax-exempt status for private schools that engage in racial discrimination, delivering on President Trump’s Executive Orders ending discrimination and restoring merit-based opportunity. “Under President Trump, this Administration is standing up for America’s students by ensuring racial discrimination…
CDFI Fund: Agency Welcomes a New Director
Today, the U.S. Department of the Treasury announced Chris Miller as the Director of the Community Development Financial Institutions (CDFI) Fund. “I am honored to serve as a presidential appointee and Director of the CDFI Fund, bringing my industry experience in community development finance to this important role,” said Mr. Miller. “I look forward to…
Treasury: Public Comments Sought on GENIUS Act Proposed Rulemaking
Today, the U.S. Department of the Treasury issued a Notice of Proposed Rulemaking (NPRM), seeking public comment related to Treasury’s implementation of section 3 of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. “President Trump and Congress delivered the GENIUS Act, establishing a landmark framework and clear rules of the road for…
CDFI Fund: CY 2026 New Markets Tax Credit Program Application Allocation Round Begins Soon
$5 Billion in Allocation Authority will be Available The upcoming calendar year (CY) 2026 round of the New Markets Tax Credit Program (NMTC Program) will make $5 billion in Allocation Authority available for investments in low income and distressed communities. The CDFI Fund is planning to open the CY 2026 NMTC Program Allocation Application round…
Treasury: FinCEN Permanently Ends Beneficial Ownership Reporting Requirements for Millions of Small Business Owners
Will Delete Information Previously Reported by U.S. Persons Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act. The final rule became effective on August 14, 2026. FinCEN today…
OCC: Secretary of the Treasury Bessent & Comptroller of the Currency Gould Highlight Community Bank Comeback at Arizona Bankers Association Roundtable
Local banks on the front lines of economic and national security; OCC acts to eliminate risks posed by extending financial services to illegal aliens Secretary of the Treasury Scott Bessent and Comptroller of the Currency Jonathan V. Gould today highlighted the Trump Administration’s efforts to alleviate regulatory burden on community banks, drive economic growth on…
Treasury: Secretary of the Treasury Scott Bessent Remarks Before the Financial Literacy and Education Commission Shared
As prepared for delivery “Good afternoon. Thank you for joining us here in the historic Cash Room. And thank you for your ongoing commitment to the work of this Commission as we meet to discuss digital financial literacy following the historic launch of Trump Accounts. I have long believed that the strength of a nation…
OCC: Comptroller Gould Highlights OCC’s Financial Literacy Efforts at Financial Literacy and Education Commission Meeting
Comptroller of the Currency Jonathan V. Gould today highlighted the OCC’s efforts to expand financial literacy, support responsible innovation, and provide consumers with practical educational resources in remarks at the Financial Literacy and Education Commission meeting. Excerpts from Comptroller Gould’s remarks are below. His full statement can be found here. Supporting responsible innovation and digital financial…
CFPB: Deputy Director Mark Paoletta Shares Remarks at the Financial Literacy and Education Commission
“Good afternoon. I want to thank Secretary Bessent and the staff of the Treasury Department for convening this meeting, and for their leadership on digital financial literacy. Under the superb leadership of Acting Director Vought, the CFPB is advancing the Trump Administration’s expansive efforts to improve financial literacy and increase early access to financial empowerment…