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The Latest Breaking News from the US Treasury

Janet Yellen Warns Congress Will Need to Take 'Extraordinary Measures' to Avoid Hitting Debt Ceiling Next Month

Treasury Secretary Janet Yellen warned congressional leaders Friday that "extraordinary measures" will soon be required to prevent breaching the debt ceiling.

International Business Times

Israeli Airstrikes Target Hezbollah's Financial Institution In Lebanon

Israeli airstrikes target Hezbollah-linked financial institution al-Qard al-Hasan in Lebanon, disrupting its operations and support networks.

Top News

What is the Hezbollah-linked financial institution Israel is targeting in Lebanon?

The Israeli military has carried out a wave of airstrikes targeting branches of a financial institution affiliated with Lebanon’s Hezbollah, saying the quasi-banking system is being used to fund the militant group’s military wing

The Independent UK

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Hezbollah-linked Financial Firm An Economic Lifeline For Lebanese

Al-Qard al-Hassan, bombed by Israel over it's Hezbollah links, is a lifeline for mainly Muslim Shiite communities battling a years-long financial crisis that has locked Lebanese out of their bank deposits.

International Business Times

US Treasury claims to have won back billions of dollars lost to fraud using AI

New AI technology is being used by the US Treasury to catch fraudsters

TechRadar

The Hezbollah Commanders Killed In Israeli Strikes

Israel has killed Hezbollah's leader Hassan Nasrallah and several of its top commanders in a series of targeted air strikes on the Iran-backed movement's stronghold in Beirut.

International Business Times

Ibrahim Aqil, The Hezbollah Elite Unit Commander Wanted By The US

Ibrahim Aqil, who Israel said it killed in an air strike on Beirut's southern suburbs Friday, headed Hezbollah's elite Radwan unit and had been on a US sanctions list for nearly a decade.

International Business Times

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Politicians have gone silent over the finance industry’s favorite tax loophole. Has private equity won the carried interest debate for good?

PE firms get taxed at lower rate than many U.S. workers

Fortune

'El Tanque' is among those accused by the U.S. of leading a fuel theft ring for the CJNG cartel

Over the past two years, the U.S. Treasury has sanctioned more than 300 targets for involvement in drug trafficking activities

Latin Times

Why gift cards fall into a gap in the 2-tier banking regulation system − and a brief history of why that gap exists

Protections against banking fraud in the U.S. have never been able to keep pace with criminals.

The Conversation

Yellen To Address G20 Finance Leaders On US Policy Commitments After Biden's Withdrawal From Presidential Race

U.S. Treasury Secretary Janet Yellen's presence at the G20 summit in Brazil aims to address subjects on green energy incentives, efforts to tackle debt distress, support for Ukraine and the capacity of China's manufacturing sector.

International Business Times

Tax revenue jumps 22% in April, but U.S. deficit still looms large

The U.S. Treasury ran a surplus last month, thanks in part to the April 15th tax deadline. But the federal government is still expected to end the year more than $1.5 trillion in the red.

WEKU

Senator Warren Criticizes US Treasury For Addressing Racial Discrimination Slowly

Senator Warren emphasizes the urgency of combating racial discrimination in the financial sector for a more inclusive and equitable system.

Top News

US Treasury Warns Of 'Malign' Actors Using Virtual Assets

US Treasury official warns of risks posed by virtual assets and emphasizes the need for enhanced oversight and regulation to protect the financial system.

Top News

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International Business Times

US, China Agree To Hold Talks On 'Balanced Economic Growth'

The United States and China have agreed to hold "intensive exchanges on balanced growth", the US Treasury Department said in a statement, after two days of talks between Treasury Secretary Janet Yellen and her Chinese counterpart He Lifeng in Guangzhou.

International Business Times

US Imposes Sanctions On 'Gaza Now' And Founder For Alleged Hamas Support

Gaza Now's Arabic channel boasts a substantial following of over 300,000 on X, along with a significant presence on the encrypted chat platform Telegram.

The Guardian - UK

Crypto firm moved $4.2m of assets to digital wallet linked to alleged Russian arms dealer

Analysis shows link between Copper Technologies and Jonatan Zimenkov, who was later hit with US sanctions over Ukraine invasion

TV Tech

FCC Chair Urges Congress to Restore Spectrum Auction Authority

FCC’s authority to auction unused spectrum has been in limbo since Congress allowed it to lapse in March 2023

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International Business Times

Bitcoin 'Specifically Referenced' In Suspected Child Exploitation Activities: US Treasury

Bitcoin has been linked to transactions associated with suspected human trafficking and child exploitation activities, a new analysis by the U.S. Treasury Department revealed.

Top News

US Treasury Proposes Anti-Money Laundering Rules for Fund Advisers

The US Treasury unit has proposed new rules requiring fund advisers to strengthen anti-money laundering measures, aiming to combat financial crime.

International Business Times

Iraq No-frills Carrier Says No Grounds For US Sanctions

Iraqi no-frills carrier Fly Baghdad has condemned Washington's imposition of sanctions, saying the US Treasury provided no proof of its allegation the airline had assisted Iran's Revolutionary Guards.

Reason

20 Years to Disaster

"The United States has about 20 years for corrective action after which no amount of future tax increases or spending cuts could avoid the government defaulting on its debt."

Fortune

The largest freight bankruptcy in history punched a $5 billion hole in the economy, cost 30,000 jobs, and left the taxpayer holding the bag for a COVID bailout

Would you take a deal to revive Yellow and bring back some of its lost jobs? Or would you scrap it and sell it for parts?

Zenger

Prominent SPAC King Criticizes U.S. For Unsustainable Borrowing Amid Rising Treasury Yields

Chamath Palihapitiya calls out fiscal policies and suggests selling long-dated maturities to match America's future

Fortune

Billionaire investor Stanley Druckenmiller accuses Janet Yellen of making the ‘biggest blunder in Treasury history’

The hedge funder argued that the Treasury Secretary “has no right” to still be in her job.

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