Federal Agency
Appears in 12 stories
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 Yesterday
Leading maximum-pressure sanctions enforcement against Iran’s oil revenue streams
Treasury just hit Iran's oil-smuggling "shadow fleet" where it actually hurts: the ships. On December 18, 2025, OFAC blocked 29 vessels and a web of managers and front-company operators that keep Iranian oil moving when the paperwork is fake and the GPS goes dark.
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.
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 6 days ago
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 7 days ago
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 2
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.
Updated Apr 30
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 — starting with $180 billion in defaulted loans held by 9.2 million borrowers, with plans to eventually take over the entire $1.7 trillion portfolio and the financial aid application that 17 million students complete each year.
Updated Mar 20
Lead agency on China trade negotiations
In April 2025, U.S. tariffs on Chinese goods peaked at 145 percent. Nine months later, President Trump and Chinese President Xi Jinping describe their relationship as 'extremely good' and are planning four bilateral summits in 2026, including Trump's first visit to Beijing since 2017.
Updated Feb 5
Issuing implementation guidance for OBBB provisions
The Internal Revenue Service opened the 2026 tax filing season on January 26 with the first implementation of the One Big Beautiful Bill Act. Signed on July 4, 2025, the sweeping tax law permanently extends the 2017 Tax Cuts and Jobs Act provisions that were set to expire in December 2025, while adding new deductions for tips, overtime pay, car loan interest, and an enhanced deduction for seniors. Taxpayers will encounter a new form—Schedule 1-A—to claim these benefits, and employers are navigating updated W-2 reporting requirements that separately track qualified overtime and tips.
Updated Jan 31
Administering Trump Accounts program
The United States has never offered universal investment accounts to children. Starting July 4, 2026, every American born between 2025 and 2028 will receive $1,000 from the Treasury Department deposited into a stock market index fund—accessible at age 18 for education, homebuying, or starting a business. Over 1 million families enrolled in the program's first week.
Defending CTA in courts while narrowing scope administratively
Congress passed the Corporate Transparency Act in 2021 to crack down on anonymous shell companies used for money laundering and terrorist financing. The law required 33 million U.S. businesses to report their true owners to FinCEN. Then courts in Alabama and Texas declared it likely unconstitutional. The Supreme Court stepped in. Within hours, a second Texas judge issued a new nationwide injunction.
Updated Jan 7
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