Federal agency
Appears in 31 stories · Last updated Nov 11, 2026
Issued General License No. 135 authorizing Russian diesel imports through April 2027; no cargo has landed in the U.S.
The first Russian diesel cargo sent to the United States under President Donald Trump's deal with Vladimir Putin has stalled off the East Coast, and no tanker has unloaded at an American port. The Malta-flagged Agioi Fanendes, carrying 40,000 metric tons, stopped off the coast on Nov. 10 after New Jersey Governor Mikie Sherrill and lawmakers warned that accepting the fuel could bring legal penalties.
Updated 11 hours ago
Runs the Iran and Russia sanctions programmes
For three years, the US Treasury's sanctions list grew mainly in one direction: Russia. Since April 2025 that has flipped. Treasury has added 1,574 names under Iran programmes and 51 under Russia programmes, according to a compilation of every OFAC list-change file published through November 6, 2026.
Updated Yesterday
Parent agency of FinCEN; its bureau withdrew three crypto reporting proposals in late 2026
The Treasury Department's Financial Crimes Enforcement Network and the Federal Reserve Board have dropped a six-year-old plan to require banks and money services businesses to collect identity data on international transfers of $250 or more. The threshold stays at $3,000, where it has been since 1995.
Updated 4 days ago
Issues the debt and publishes the outstanding balances
At the end of September 2026, the federal government owed the public about $32.4 trillion. Over the same 12 months, the economy produced roughly $32.2 trillion, so the debt was larger than the economy for the first time since 1946.
Updated 5 days ago
Continuing Operation Economic Outcast with designation rounds in October and November 2026, including the first action against the false-flag registries themselves
Treasury's December 2025 designation of 29 tankers fed into a war. The U.S. and Israel launched Operation Epic Fury on February 28, 2026, and a June 17 memorandum signed at the G7 briefly reopened Iran's oil trade under General License X. That relief died on July 17, when the license's wind-down expired after IRGC attacks on three tankers.
Updated 6 days ago
Imposing sanctions
A one-month US license that let Iranian airlines fly to Iraq's Najaf, capped at 40 flights a day and excluding Mahan Air, expired on October 28. No renewal had been announced as of November 4, and most of Iran's other foreign routes remain shut.
Updated Nov 1
Coordinating with OCC on AML/OFAC rulemaking
The Office of the Comptroller of the Currency published its GENIUS Act stablecoin rule in the Federal Register on October 23. From January 18, 2027, a company must be approved as a permitted issuer before it can issue a dollar-backed payment token in the United States.
Updated Oct 26
Lead agency on China trade negotiations; announced September 2026 truce extension
President Trump and President Xi Jinping moved their countries from tariff war to summit diplomacy in 2026. After a phone call in February, Trump traveled to Beijing in May for the first U.S. presidential visit to China since 2017. The two sides agreed to a 'constructive China-U.S. relationship of strategic stability,' a framework Beijing said would guide relations for three years.
Updated Oct 23
Co-author of the rule
Health insurers must publish their negotiated rates in a form researchers and consumers can use. The Department of Health and Human Services finalized the updates to the Transparency in Coverage rules on October 5, 2026, with the Departments of Labor and the Treasury.
Updated Oct 21
Enforcing sanctions through OFAC
The US Treasury on October 15 sanctioned an Iraqi bank that it says channeled US dollars to Iran. The International Development Bank for Investment and Finance (IDB) collected monthly profits in US currency and sent them to Tehran, according to the department.
Updated Oct 19
Publishes the monthly Treasury International Capital data that tracks foreign holdings
China's reported US Treasury holdings fell to $618 billion in July, the lowest since August 2008. The Treasury Department data, released September 16, showed Beijing trimming 2.4% in a single month.
Deadline to issue the diesel-tax determination passed October 10; implementing guidance not yet published as of October 18
Truckers and farmers can burn tax-exempt "red dye" diesel on public highways through the end of the year under an executive order Trump signed October 5 in Grand Island, Nebraska. The order defers the 24.3-cent-per-gallon federal excise tax on that fuel through December 31, with no interest or penalties.
Updated Oct 18
Lifting sanctions on Venezuelan officials
The US Treasury removed Jorge Rodriguez, president of Venezuela's National Assembly, from its sanctions blacklist on October 14. He can now use the US financial system and do business with American citizens for the first time since 2018.
As of October 2026: Managing $40.1 trillion in federal debt
The 30-year Treasury yield has climbed above 5.6%, the highest since 2002. On October 1 it hit 5.67%, its highest since April 2002. The 10-year yield is near 5.25%, its highest since 2007.
Updated Oct 5
As of October 2026: Two straight $6 billion buybacks have fallen short of their caps; 30-year yield at 5.474%, highest since June 2004
Treasury accepted $4.08 billion of 20- to 30-year bonds on Sept. 24, below the $6 billion cap, even after investors offered $10.47 billion. The 30-year yield then touched 5.474%, its highest since June 2004, and the 10-year reached 5.18%.
Updated Oct 4
As of October 2026: Co-defendant; settlement fund source
Trump, two of his sons, and the Trump Organization filed a $10 billion suit against the IRS on January 29, 2026, over a contractor's leak of his tax returns. In May, the case was dismissed and the parties announced a settlement that released federal claims against Trump's family and created a $1.776 billion fund.
Updated Oct 1
As of September 2026: Imposing secondary sanctions on Iran's aviation sector
On Thursday, the UAE suspended all flights by Iranian airlines to and from the country. The decision closes Dubai — the Gulf's biggest travel hub, with multiple daily Iran flights and a large Iranian community — to Iranian carriers.
Updated Sep 25
As of September 2026: Issued guidance on Prohibited Foreign Entity provisions
The US added 11.4 gigawatts of solar capacity in the second quarter of 2026 — a 45% jump from a year ago and the market's strongest quarter in years. Nearly all of it was utility-scale: developers rushed to start construction on large solar farms before a July 4 deadline stripped federal tax credit eligibility.
Updated Sep 12
As of September 2026: Running expanded buyback operations to support the bond market
Treasury Secretary Scott Bessent's $6 billion bond buyback failed to cool the market again Thursday. The 10-year Treasury yield eased to 4.69%, barely below Wednesday's spike to 4.85%, and a $39 billion auction of 10-year notes cleared at 4.834%, the highest since 2007.
Updated Sep 10
As of September 2026: Issuing agency for the proposed rule
The Treasury Department proposed a rule on September 3 that would end federal tax-exempt status for private schools and colleges that give students any benefit based on race. The Internal Revenue Service estimates 18,000 institutions could be affected, along with 750,000 students holding race-based scholarships.
Updated Sep 7
As of July 2026: Administering Trump Accounts program
The program launched July 4, 2026, opening for contributions on America's 250th birthday. Treasury deposited $1,000 into 1.4 million eligible accounts, committing $1.4 billion in total; 6 million children are now enrolled.
Updated Jul 7
As of May 2026: Brokered failed $500M rescue package
Roughly 1.8 million Spirit Airlines passengers woke up on May 2, 2026 to find their tickets worthless. At 3:00 a.m. Eastern Time, the eighth-largest US carrier shut down for good, told customers to stay home from the airport, and laid off about 17,000 employees and contractors. The trigger was a creditor group that walked away from a $500 million rescue package the Trump administration had been brokering.
Updated May 31
As of May 2026: Lead implementing agency for retirement access order and Saver's Match
In January 2027, the federal government will start depositing up to $1,000 a year into the retirement accounts of lower-income workers. There is a problem: roughly 27 million of the workers who qualify do not have an account to put it in.
As of May 2026: Absorbing Education Department's student loan operations
The federal government has managed student loans from the same place for decades: the Education Department's Federal Student Aid office. On March 19, the Treasury Department began absorbing that function.
Updated May 30
As of May 2026: Issuing implementation guidance for OBBB provisions
The IRS opened the 2026 tax filing season January 26, launching the first implementation of the One Big Beautiful Bill Act, signed July 4, 2025. The law extends 2017 tax provisions set to expire December 2025 and adds deductions for tips, overtime, car loan interest, and seniors.
Updated May 26
As of May 2026: Lead implementing agency
For 23 years, federal rules let Individual Taxpayer Identification Numbers stand in for Social Security numbers when opening a bank account. A Trump executive order now tells regulators to treat ITIN use as a potential fraud and trafficking red flag, moving the compliance burden onto banks.
Updated May 21
As of May 2026: Defending CTA in courts while narrowing scope administratively
Congress passed the Corporate Transparency Act in 2021 to crack down on shell companies used for money laundering and terrorist financing, requiring 33 million U.S. businesses to report their true owners to FinCEN. Courts in Alabama and Texas declared it likely unconstitutional.
Updated May 19
As of May 2026: Approved systemic-risk action that triggered the legally required special assessment
The FDIC spent 2024–2025 billing big banks for the emergency decision to make SVB and Signature depositors whole. Now, with one quarter left in the planned eight-quarter collection, the agency is lowering that final rate and trying to prevent an awkward ending: collecting more than the losses it's legally required to recover.
Updated May 15
As of May 2026: Owns the sanctions strategy and the political balancing act behind carve-outs
Sanctions are supposed to close doors. On December 17, the U.S. quietly propped two doors back open again, even as it slammed others shut. One narrow lane keeps Sakhalin-2 crude flowing to Japan; the other preserves financial channels for civil nuclear projects, even when payments touch sanctioned Russian banks—both running through June 18, 2026.
As of May 2026: Home agency for Bessent; manages internal ethics screening while defending his role in trade and farm policy
Scott Bessent became Treasury Secretary in January 2025. An ethics agreement required him to sell substantial holdings, including up to $25 million in North Dakota soybean and corn farmland that earned as much as $1 million a year in rent. After months of delays, the Office of Government Ethics warned him in August 2025 that he'd failed to comply on time.
Updated May 10
As of May 2026: Pushing a deregulatory posture that shapes FSOC and influences prudential-policy direction across agencies
In March 2013, U.S. bank regulators issued joint supervisory guidance on leveraged lending to prevent a return of pre-2008-style underwriting excesses, with examiners informally anchoring scrutiny around a roughly six-times-EBITDA leverage benchmark. Over the next decade, banks' pullback shifted riskier deal finance toward private-credit funds, CLOs, and other nonbanks—expanding an opaque "shadow banking" ecosystem even as regulators maintained the guidance was supervisory, not a binding rule.
Updated May 9
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