Sections

U.S. Treasury

Loans
SBA Data Shows $20B+ Of PPP Loans Have Been Canceled
A minimum of $20 billion in Paycheck Protection Program (PPP) loans have been canceled — many by small businesses afraid they can’t...
SMBs
PPP’s Banker Versus Borrower Dilemma
Since the launch of the Paycheck Protection Program (PPP) in early April, the single-minded focus of the U.S. Treasury, the banks approved to process...
Bitcoin
Bitcoin Daily: Lloyd’s Now Covers Crypto In eWallets; U.S. Treasury Adds Hacker Bitcoin Addresses To Blacklist
Lloyd’s of London, the insurance firm, is supporting a new policy that protects digital currency held in digital wallets from hackers, Coindesk...
B2B Payments
IRS Questioned Over Corporate Auditing Lag
The U.S. Treasury Inspector General for Tax Administration is calling into question the Internal Revenue Service’s corporate auditing performance. Bloomberg reported on...
Cryptocurrency
Libra To Face Strict Standards To Prevent Money Laundering, Terrorism Financing
The Geneva-based, Facebook-led Libra cryptocurrency will have to adhere to stringent regulations, Reuters reported on Tuesday (Sept. 10). U.S. Under Secretary of...
Latin America
US Mulls Banning Visa, Mastercard From Processing In Venezuela
The U.S. might prohibit Visa, Mastercard and other financial institutions (FIs), such as SWIFT, from processing transactions in Venezuela. Citing a senior Trump...
Bitcoin
Bitcoin Daily: US Treasury Penalizes Petro-Backing Moscow Bank; China Tops US In Blockchain Patents
The U.S. Department of the Treasury announced sanctions against a Moscow-based bank because it helped finance Venezuela’s petro cryptocurrency. “The illegitimate Maduro regime...
Regulation
US Treasury: Taxes On Digital Companies Are Discriminatory
A U.S. Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. Reuters reported that Chip...
Cryptocurrency
Global Standard For Crypto AML In The Works
The leader of the global anti-money laundering (AML) task force said he was “optimistic” that it is closer to establishing worldwide standards...
Regulation
Trump Administration Shrinks Finance Watchdog
The Trump administration is laying off 40 staff members at the Office of Financial Research (OFR), an independent bureau that analyzes market...
Bank Regulation
AI, Security And Loosened Rules: How The US Wants To Boost FinTech
Loosening federal regulations, enacting national data breach protections and drafting “model laws” at the state level to reduce overlapping red tape, could...
International
Tencent, Alibaba, JD.com US Investments Could Be Trade War Casualty
The Trump administration might be introducing a new initiative that would restrict investment in U.S. tech firms by Chinese companies, as well...
Regulation
Treasury Department Asks For Relaxed Penalties For Community Reinvestment Act
The Treasury Department has recommended that U.S. regulators ease up on penalties for banks that fail to adhere to the Community Reinvestment...
International
Latvian Defense Ministry Says Corruption Allegations Are Fake News
The Latvian Defense Ministry is contending that corruption allegations — which resulted in the suspension of a central bank governor on Tuesday...
Regulation
Treasury Eyes Cryptocurrencies For Money Laundering
The U.S. Treasury’s financial crime unit is picking up enforcement of cryptocurrency platforms that don’t have strong internal mechanisms in place to...
B2B Payments
US Lawmakers’ Gentle Approach To Alt-Lending Regulation
Industry experts have been anticipating the regulatory crackdown of the alternative lending market for some time. After all, there are far more...