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The Latest Breaking News from the Treasury Department

Long removed as IRS commissioner two months after confirmation - Roll Call

Former GOP Rep. Billy Long has been removed as IRS commissioner by President Trump, a White House official said Friday.

Roll Call

US sanctions Mexico cartel members, including rapper El Makabelico

Treasury aims to disrupt Cartel del Noreste’s leadership and financial networks tied to violence and drug trafficking.

Al Jazeera

Top Democrat demands Trump’s IRS investigate Epstein bank records in sprawling probe: ‘Follow the money’

Ron Wyden’s sprawling bank probe demands Trump administration investigate financial transactions surrounding Epstein’s trafficking case

The Independent UK

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Mexican Banks Are Purging Their Client Lists To Avoid Cartel-Related U.S. Sanctions

Mexican banks are reportedly strengthening their anti-money laundering mechanisms to avoid U.S. sanctions

Latin Times

Social Security Garnishment Rules: What Retirees Need to Know

Do you know who can garnish your monthly Social Security benefit? Or take the funds from your bank account? Learn how to protect your benefits from creditors.

Kiplinger

U.S. Grants Temporary Reprieve To Mexican Financial Firms Accused Of Helping Launder Cartel Money

The U.S. is granting a temporary reprieve to three Mexican financial firms recently sanctioned for their alleged role in helping launder cartel money after seeing progress by the Claudia Sheinbaum administration to address the matter

Latin Times

7 Inheritance Clauses That Now Trigger Federal Review

Estate planning has grown more complex. Now, federal agencies pay closer attention to wealth transfers. Certain clauses in a will or trust can raise red flags. This may prompt scrutiny from the IRS or the Treasury Department. The government aims to prevent tax evasion and other illegal transfers. Let’s look…

Budget and the Bees

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This summer will be decisive for the economy and Wall Street

More fiscal sticker shock could send Treasury yields higher and add more pressure on the dollar, which is already down 10% this year, its worst first-half performance in more than 50 years.

Fortune

Mexican President Sheinbaum Says There Is 'Simply No Proof' That Local Banks Laundered Money For Cartels

Mexican President Claudia Sheinbaum rejected U.S. sanctions against three Mexican banks over money laundering accusations

Latin Times

U.S. Sanctions Mexican Banks Over Alleged Role in Laundering Cartel Funds, Buying Fentanyl Chemicals

The U.S. Treasury Department has sanctioned three Mexican financial institutions, alleging they were used by drug cartels to launder millions of dollars.

Latin Times

U.S. Targets 10 Front Companies Used by 'Los Chapitos' to Launder Fentanyl Proceeds

U.S. officials say a real estate firm, a spa, and a clothing rental service are among the front companies used by Los Chapitos to launder proceeds from their fentanyl trafficking operations

Latin Times

U.S. Hits El Chapo's Fugitives Sons with Sanctions, $10M Bounties Over Fentanyl Trafficking

Iván Archivaldo Guzmán Salazar and his brother, Jesús Alfredo Guzmán Salazar, are believed to be the current leaders of the Los Chapitos faction within the Sinaloa Cartel. The Treasury Department increased the bounties for their capture and deepened the sanctions against them.

Latin Times

Senate Banking would zero out CFPB funding in reconciliation - Roll Call

Other reconciliation provisions for Banking panel would pare spending at the Fed, Treasury, HUD and at the Securities and Exchange Commission.

Roll Call

US lifts first sanctions on Syria following Trump’s surprise announcement

The president announced the sanctions relief in May, ahead of an unannounced visit with Syrian leader Ahmed al-Sharaa.

Al Jazeera

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The Independent UK

Goodbye to the Penny! Treasury Department announces plan to phase out the coin

The U.S. mint made its final order of penny blanks, the Treasury Department said Thursday.

The Independent UK

Al-Qaeda and Hezbollah leaders among terrorists who pay Elon Musk for X subscriptions, study finds

Tech Transparency Project finds several terrorists and others under sanctions have premium blue checkmark accounts on X

Roll Call

McKernan, in limbo as CFPB nominee, to get a shot at Treasury - Roll Call

Jonathan McKernan, awaiting a Senate vote on his nomination to lead the CFPB, will get tapped for another job at the Treasury Department.

Kiplinger

Is It Still Worth It to Gift Savings Bonds?

Kiplinger editor explores if it's still a good idea to get savings bonds as gifts for children, looking at their returns and usability.

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news in one place.

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Capital & Main

The Trump Administration Climate Plan: Red States Get Hydrogen, Blue States Don’t

In Pennsylvania, a hydrogen hub in upheaval as natural gas producer pauses involvement while four others bail on the project.

Fortune

The IRS interim commissioner was just ousted after Scott Bessent reportedly fussed to Trump that Elon Musk installed the leader behind his back

Gary Shapley was named the new agency leader on Tuesday.

The Independent UK

US imposes sanctions on a Chinese refinery accused of buying Iranian oil

The Treasury Department has imposed sanctions on a Chinese oil refinery that's accused of purchasing more than $1 billion worth of Iranian oil

International Business Times

IRS Head Resigns Following Controversial ICE Data-Sharing Agreement

IRS Acting Commissioner Melanie Krause resigns following controversy over a deal allowing ICE access to taxpayer data for deportation efforts.

The Independent UK

IRS chief resigns after Trump administration strikes deal to share undocumented taxpayer data

‘Backroom deal’ could hand taxpayer data to ICE agents as part of Trump’s deportation blitz

Salon

Telling us to "save more" isn't working

Without a drastic reimagining of our systems, we face a poverty crisis

inkl

Crypto Power Play: Trump’s Executive Order and the Future of Digital Assets

On March 6, 2025, U.S. President Donald Trump issued an executive order to establish a Strategic Bitcoin Reserve alongside a stockpile of other cryptocurrencies—including Ethereum, XRP, Solana, and Cardano—both managed by the Treasury Department. This move represents a significant shift in the United States' approach to digital currencies, as the…

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