CDFI Fund: Treasury Pairs New Market Tax Credit Awards with Program Reforms
The U.S. Department of the Treasury (Treasury) today announced New Markets Tax Credits (NMTC) awards to promote U.S. economic growth. Treasury also announced reforms to focus NMTC awards on community revitalization and ensure NMTC awardees’ compliance with federal anti-discrimination laws. The awards announced today are a double round, covering 2024 and 2025. Secretary Scott K.H….
ABA: Statement Issued on Treasury Guidance on Penny Phaseout
“We appreciate today’s Treasury Department guidance on handling pennies in the banking system. With the administration’s decision to end penny production, a clear path forward is essential to ensuring a smooth transition for American consumers, businesses and the banks that serve them. As we noted in our recent letter to Treasury, maintaining the ability to accept…
Treasury: IRS & Treasury Release Final Rules on the Tribal General Welfare Exclusion Act and Entities Wholly Owned by Indian Tribal Governments
Today, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced at the meeting of the Treasury Tribal Advisory Committee (TTAC) two final pro-growth and deregulatory tax regulations that support the prosperity of Tribal businesses and families and recognize the sovereignty of Tribal governments. The first rule implements the Tribal General Welfare Exclusion Act…
CDFI Fund: Advisory Board Will Meet Virtually on December 29th
The Community Development Financial Institutions Fund (CDFI Fund) is convening a public meeting of the Community Development Advisory Board (the Advisory Board) from 11:00 to 11:30 a.m. Eastern Time on Monday, December 29, 2025. This meeting will be conducted virtually. The function of the Advisory Board is to advise the Director of the CDFI Fund on the…
HUD: Treasury and HUD Build on First Lady Melania Trump’s Fostering the Future Initiative for Foster Youth
Agencies Commit to Equipping Foster Youth with Strong Financial Literacy Foundation In accordance with President Donald J. Trump’s Executive Order (EO) on “Fostering the Future for American Children and Families,” First Lady Melania Trump today announced the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Treasury (Treasury) will hold roundtables with foster…
ICBA: ICBA Urges Policymakers to Continue to Support Local Communities Served by Community Development Financial Institutions
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on actions to dismantle the Community Development Financial Institution Fund. “ICBA is concerned about the economic impact eliminating the CDFI Fund would have on the local communities that CDFIs serve. Hampering the work of CDFIs would threaten the financial…
CDFI Fund: Operating Status During Federal Government Shutdown Released
For the duration of the federal government shutdown, limited Community Development Financial Institutions Fund (CDFI Fund) staff and services will be available as described below. Any regularly scheduled webinars, such as the next monthly Transaction Level Report webinar on October 1st and the CDFI Certification webinar on October 2nd, are cancelled and may be rescheduled once the…
Treasury: Readout and Recording from the Financial Literacy and Education Commission September 2025 Public Meeting on Payment Fraud Now Available
Yesterday, the U.S. Department of the Treasury hosted a convening of the Financial Literacy and Education Commission (FLEC) focused on federal efforts to combat payment fraud and implement Executive Order 14247, Modernizing Payments To and From America’s Bank Account, which mandates the transition to the use of electronic payments for federal disbursements and receipts beginning on…
Treasury: IRS and Treasury Issue Proposed Regulations Around “No Tax on Tips” Deduction
Today, the Treasury Department and IRS issued proposed regulations identifying the occupations that customarily and regularly received tips before 2025, and therefore may be eligible for the deduction. The proposed regulations also address the definition of “qualified tips” and other requirements taxpayers must comply with to claim the deduction. “I took my first job as…
Treasury: Major Progress in IT Modernization Initiatives Announced
The U.S. Department of the Treasury today announced significant progress across its IT modernization agenda within the IRS, underscoring its commitment to improving taxpayer services, enhancing cybersecurity, strengthening compliance, and filing season operations. To enable delivery of these objectives, Treasury has entered into a series of Blanket Purchase Agreements (BPAs) with leading technology providers. All commercial…