The U.S. Treasury announced it would halt the production of the nation’s circulating one-cent coin this week, citing escalating manufacturing costs and deeming the currency unnecessary for modern commerce, USA Today reported Wednesday (Nov. 12). According to the report, U.S. Treasury Secretary Scott Bessent and...
Eliminating paper checks from government disbursements will reduce fraud and speed up the delivery of payments to recipients, three bank groups told the Treasury Department Monday (June 30). The Bank Policy Institute, The Clearing House Association and the Consumer Bankers Association said this in joint comments submitted in response to the...
Former Federal Deposit Insurance Corp. (FDIC) Board Member Jonathan McKernan will be nominated to serve in a post at the Treasury Department after previously being nominated to lead the Consumer Financial Protection Bureau (CFPB). Treasury Secretary Scott Bessent said in a Friday (May 9) press release that President Donald Trump intends to nominate...
The Treasury Department is reportedly taking the lead in the Trump Administration’s efforts to streamline oversight and ease regulation in the banking sector. Treasury Secretary Scott Bessent has been holding private meetings with bank agencies over the past month, Bloomberg reported Thursday (April 17). Bessent has met with Federal Reserve Governor Michelle Bowman, Federal...
March 07, 2025
On Friday (March 7), the crypto industry came to Washington D.C. Specifically, they came to the White House’s State Dining Room, where the nation’s first ever “Crypto Summit” was held. President Donald Trump, flanked by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. “AI and Crypto Czar” David Sacks, addressed the more than two dozen […]
March 16, 2023
Treasury Secretary Janet Yellen isn’t playing favorites, just protecting the U.S. banking system. She told lawmakers Thursday (March 16) that “Americans can feel confident that their deposits will be there...
October 06, 2026
The Treasury Department’s new payment verification process stopped $175 million in payments that would have gone to deceased individuals during the past fiscal year, the department said in a Tuesday (Oct. 6) press release. That process is one of several improvements Treasury made during fiscal year 2026 to prevent fraud and improper payments, according to […]
November 12, 2025
The U.S. Treasury announced it would halt the production of the nation’s circulating one-cent coin this week, citing escalating manufacturing costs and deeming the currency unnecessary for modern commerce, USA...
July 01, 2025
Eliminating paper checks from government disbursements will reduce fraud and speed up the delivery of payments to recipients, three bank groups told the Treasury Department Monday (June 30). The Bank Policy Institute, The Clearing...
May 09, 2025
Former Federal Deposit Insurance Corp. (FDIC) Board Member Jonathan McKernan will be nominated to serve in a post at the Treasury Department after previously being nominated to lead the Consumer Financial Protection Bureau (CFPB). Treasury...