Treasury

The Senate passed the Republican-led tax and spending package, known as “One Big Beautiful Bill” by the narrowest of margins on July 1. Three Republicans broke party ranks to oppose the measure, resulting in a 50-50 split among voting members and Vice President J.D. Vance being called upon to cast the tie-breaking vote. Read on »

The real estate finance industry welcomed the news that U.S. Treasury Secretary Scott Bessent asked lawmakers to strike “retaliatory tax measures” from the congressional budget package. Dodd Frank Update spoke with an expert from the Commercial Real Estate Finance Council about the effect such a tax would have on real estate investments. Read on »

The U.S. Treasury Department issued a request for information connected to Executive Order 14247, titled “Modernizing Payments To and From America’s Bank Account.” Read on »

President Donald Trump intends to nominate Jonathan McKernan to a position at the Treasury, according to an announcement by Treasury Secretary Scott Bessent. McKernan is awaiting Senate confirmation of Trump’s nomination of him to be director of the Consumer Financial Protection Bureau. Read on »

A bipartisan coalition of senators wrote to U.S. Department of the Treasury Secretary Scott Bessent expressing their support for the Treasury’s Community Development Financial Institutions Fund, which a recent executive order from President Donald Trump called for eliminating. Read on »

The U.S. Treasury’s Financial Crimes Enforcement Network officially ended the enforcement of beneficial ownership information (BOI) reporting requirements for domestic entities, following a previous announcement on BOI requirements for U.S. companies and individuals. Read on »

U.S. Treasury Secretary Scott Bessent scored some points with community banking advocates for his remarks during a speaking engagement at the Economic Club of New York, championing a more “efficient regulatory framework” for the financial sector. Read on »

The U.S. Department of the Treasury said it will not enforce the Corporate Transparency Act rule requiring companies to report beneficial ownership information against domestic companies or U.S. citizens. The agency intends to narrow the scope of the existing requirements through a proposed rule which will apply to foreign entities only. Read on »

Institutions subject to the Corporate Transparency Act will need to begin filing beneficial ownership information (BOI) in March following the latest court ruling on the matter, according to the Financial Crimes Enforcement Network. The D.C. District Court stayed the last injunction preventing enforcement of BOI requirements intended to help mitigate illicit business operations. Read on »

A district court ruling halting enforcement of the Corporate Transparency Act’s Beneficial Ownership Information reporting requirement is being appealed by the U.S. Department of Justice in hopes of reversing the decision. Read on »