During her prepared remarks at the 2023 Freedman's Bank Forum on October 25, Secretary of the Treasury Janet L. Yellen underscored the significance of creating a fair and inclusive economy. "All of us here know that the U.S. economy has not historically worked well for Black,...
Assistant Secretary for Financial Institutions Graham Steele delivered remarks before the Amazon Web Services (AWS) Gov2Gov Summit on Responsible Artificial Intelligence Innovation for the Public Sector. In his speech, Steele discussed the significant role of artificial intelligence (AI) in the financial services sector and highlighted both the opportunities and challenges associated with its adoption.
US Senators have expressed concerns over China's expanding role in the American financial system, citing potential risks to personal identifiable information (PII). Led by Senators Tim Scott and Mike Crapo, a group of lawmakers sent a letter to Treasury Secretary Janet Yellen and United States Trade Representative Katherine Tai, outlining their concerns about the Chinese Communist Party's (CCP) increasing influence in the US financial system and global payments market. (
On Oct. 25, 2023, the Biden-Harris administration and the Economic Opportunity Coalition (EOC) announced a landmark commitment to bolster community lenders. According to a press release, the EOC, which consists of nearly 30 private sector companies and foundations, aims to secure $3 billion in deposits for community development financial institutions (CDFIs) and minority depository institutions (MDIs), community lenders with a proven record of reaching low-income, rural, and other underserved communities.
U.S. Secretary of the Treasury Janet L. Yellen and OMB Director Shalanda D. Young revealed the 2023 fiscal data, spotlighting both economic growth and rising deficits.
President Joe Biden's Inflation Reduction Act is touted as the most significant legislation to address climate change in the history of the United States, according to a recent U.S. Department of the Treasury press release.
The latest U.S. Bureau of Labor Statistics State Employment and Unemployment report for September 2023 offers a glimpse into the nation's diverse job markets.
Binance, the largest cryptocurrency exchange in the world, has announced new partnerships with fiat providers to expand its Euro services. This move will allow Binance users in Europe to conveniently convert their fiat holdings to crypto and vice versa.
An analysis conducted by the blockchain analytics firm Chainalysis has found that Hamas raised less than half a million dollars in crypto, contradicting claims by the Wall Street Journal (WSJ) that the terrorist group raised tens of millions of dollars in crypto. Pictured: Sam Callahan, lead market analyst at Swan (left) and Treasury Secretary Janet Yellen. Photo sources: twitter.com/samcallah, home.treasury.gov
In a recent press release from the Department of Treasury, Secretary Janet L. Yellen emphasized the crucial role that the United States plays in addressing global instability. Yellen's statement came after President Joe Biden's request to Congress for supplemental funding to support Israel and Ukraine.
The U.S. Bureau of Labor Statistics' recent press release indicates a 0.4% increase in the Consumer Price Index for All Urban Consumers (CPI-U) for September 2023, down from the 0.6% rise in August. Over the year, the index reported a 3.7% increase prior to seasonal adjustments.
The U.S. Bureau of Labor Statistics reported a rise in total nonfarm payroll employment in September 2023, with the unemployment rate remaining steady at 3.8%.
The Price Cap Coalition's advisory, released on Oct. 12, outlines critical best practices for maritime oil industry stakeholders. Designed to enhance responsible trading and ensure compliance with price caps on Russian-origin oil products set by the G7, EU and Australia, the advisory pinpoints multiple challenges confronting the sector.
In recognition of Hispanic Heritage Month, the U.S. Department of the Treasury released a report card showing that Latino business ownership and revenues in the U.S. are up and detailing how federal investments – including those from President Joe Biden’s American Rescue Plan – are growing and sustaining Latino-owned businesses.
Montana has achieved its annual sustainable timber yield target for its State Trust Land, according to an announcement made by Governor Greg Gianforte and the Montana Department of Natural Resources and Conservation (DNRC) on October 5, 2023.
Both government officials reiterated their dedicated support for Ukraine after the decision by Congress to prevent a potential government shutdown, which would impact the U.S.'s involvement in Ukraine.
The U.S. Department of the Treasury has released a report highlighting the impact of climate change on household finances. According to the report titled "The Impact of Climate Change on American Household Finances," severe flooding, wildfires, and extreme heat are imposing significant financial burdens on households across the country. The report reveals that over half of the counties in the U.S., encompassing millions of residents, are at an increasing risk of at least one major climate hazard.
The Senate Committee on Banking, Housing, and Urban Affairs has passed the Secure And Fair Enforcement Regulation Banking Act (SAFER Banking Act) with a vote of 14-9 on September 27. This bipartisan bill, formally known as S. 2860, aims to offer financial institutions protection when servicing state-sanctioned cannabis businesses and their providers.
Republicans on the House Financial Services Committee have publicly criticized SEC Chair Gary Gensler for what they deem to be a flawed regulatory approach. In a letter led by Committee Chairman Patrick McHenry, they express direct concerns to Gensler. They are troubled by the Commission's reluctance to consider stakeholder feedback and its failure to conduct thorough economic analysis.