U.S. Treasury Department – Courthouse News Service

Yellen Becomes First Woman to Lead Treasury Department

January 25, 2021January 25, 2021 JACK RODGERS

Biden administration, Janet Yellen, presidential appointments, U.S. Senate, U.S. Treasury Department

After making history as the first woman to chair the Federal Reserve seven years ago, Janet Yellen broke another glass ceiling Monday when she was confirmed as the first female treasury secretary.

Appeals Government Health

With Billions in the Balance, Court Unravels Treasury’s Tribal Counts

January 5, 2021January 5, 2021 JACK RODGERS

coronavirus, D.C. Circuit, Native Americans, U.S. Treasury Department

Balking at methodology that put the population of the Shawnee Tribe at zero when it has thousands of members, the D.C. Circuit ordered an injunction Tuesday on how the government administers coronavirus-relief funds to Native Americans.

Government International Technology

Senator: Treasury Dep’t Email Accounts Compromised in Hack

December 21, 2020December 22, 2020 ASSOCIATED PRESS

Emails, hacking, Russian hacking, U.S. Treasury Department

Dozens of email accounts at the Treasury Department were compromised in a massive breach of U.S. government agencies being blamed on Russia, with hackers breaking into systems used by the department’s highest-ranking officials, a senator said Monday after being briefed on the matter.

Financial International

US Brands Vietnam, Switzerland as Currency Manipulators

December 16, 2020December 16, 2020 ASSOCIATED PRESS

currency, Trade, U.S. Treasury Department

The U.S. Treasury Department has branded Vietnam and Switzerland as currency manipulators while putting China and nine other countries on a watch list in an annual report designed to halt countries from manipulating their currencies to gain unfair trade advantages.

Government Technology

Russian Hackers Suspected of Breaching US Government Agencies

December 13, 2020December 13, 2020 JON PARTON

Commerce Department, Russian hacking, U.S. Treasury Department

Hackers suspected of working for Russia broke into the computer systems of the Commerce and Treasury departments, according to multiple media reports released Sunday.

Appeals Financial Government Securities

Justices Struggle With Fannie-Freddie Case Hinged on Presidential Powers

December 9, 2020December 9, 2020 BRANDI BUCHMAN

Bailout, mortgage, regulation, separation of powers, U.S. Supreme Court, U.S. Treasury Department

In many ways echoing last year’s Consumer Financial Protection Bureau challenge, shareholders of Fannie Mae and Freddie Mac took on the authority of the federal agency that oversees the mortgage giants Wednesday in a Supreme Court battle implicating billions of dollars.

Economy Financial Government

Republicans Unwavering on Virus-Relief Bill Scorned as Not Enough by Democrats

December 2, 2020December 2, 2020 BRANDI BUCHMAN

Congress, coronavirus, U.S. Treasury Department

Relief for Americans walloped by the Covid-19 pandemic remains elusive, but Treasury Secretary Steven Mnuchin told lawmakers on Wednesday that a Republican proposal that has been making the rounds on Capitol Hill has President Donald Trump’s support.

Economy Government National Politics

Biden Unveils Picks for Top Members of Economic Team

November 30, 2020December 1, 2020 BRAD KUTNER

Joe Biden, U.S. Economy, U.S. Treasury Department

President-elect Joe Biden announced his nominations for key members of his economic team Monday, including one name that many Americans will recognize.

Politics

Biden Expected to Pick Ex-Fed Chair Yellen as Treasury Secretary

November 23, 2020November 23, 2020 MATTHEW RENDA

Joe Biden, U.S. Treasury Department

President-elect Joe Biden is expected to name Janet Yellen, former chair of the U.S. Federal Reserve, as his Treasury secretary, according to multiple reports.

Economy Financial

Virus Woes, Mnuchin Meddling Send Markets Sliding

November 20, 2020November 20, 2020 NICK RUMMELL

Stocks, U.S. Economy, U.S. Treasury Department

A move by the Treasury Department to pull back funds from the Federal Reserve spooked investors on Friday, with markets dipping slightly to end a mishmash week of trading.

Economy Financial Government

Road to Recovery Is Long, but Powell and Mnuchin Laud Improvements

September 22, 2020September 22, 2020 BRANDI BUCHMAN

Congress, coronavirus, Federal Reserve, U.S. Economy, U.S. Treasury Department

Over half of all jobs lost in pandemic-hit America have yet to return, but Treasury Secretary Steve Mnuchin and Federal Reserve chairman Jerome Powell offered hopeful analysis on the state of economic recovery Tuesday amid stalled relief talks in Congress.

Appeals Government

Tribes Take Battle Over Covid Emergency Funds to DC Circuit

September 11, 2020September 11, 2020 MEGAN MINEIRO

Alaska, coronavirus, Native Americans, tribal issues, U.S. Treasury Department

Nearly six months after Congress earmarked $8 billion for Native tribes in the CARES Act, the Treasury Department argued to the D.C. Circuit on Friday that it can lawfully hand out portions of the coronavirus relief funds to Alaska Native corporations.

Economy Government

US Budget Deficit Hits Record $3 Trillion Through 11 Months

September 11, 2020September 11, 2020 ASSOCIATED PRESS

Budget, U.S. Economy, U.S. Treasury Department

The U.S. budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year, the Treasury Department said Friday.

Financial National Technology

Capital One Fined $80 Million in Data Breach

August 7, 2020August 7, 2020 ASSOCIATED PRESS

banks, data breach, hackers, U.S. Treasury Department

The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled a hack that accessed the personal information of 106 million of the bank’s credit card holders.

Criminal Government Health

Stimulus Checks

August 3, 2020August 5, 2020 BRIEF

coronavirus, inmates, IRS, U.S. Treasury Department

Inmates have sued U.S. Treasury Secretary Steven Mnuchin, the Internal Revenue Service and others, challenging the “unauthorized and unlawful refusal” to issue them coronavirus stimulus checks.

Business Consumers Government

States Sue Trump Administration Over New Payday-Lending Rule

July 29, 2020July 30, 2020 NICHOLAS IOVINO

lending, payday loans, regulation, Trump administration, U.S. Treasury Department

Seeking to stop the cycle of unsophisticated borrowers getting trapped in a recurring cycle of debt, multiple states have imposed regulations on payday lenders in recent years – regulations that will no longer apply to some lenders under a new Trump administration rule.

Economy Government National

Monthly Budget Deficit Soars to Record High of $864 Billion

July 13, 2020July 13, 2020 TIM RYAN

Budget, coronavirus, Debt, Trump administration, U.S. Economy, U.S. Treasury Department

The U.S. budget deficit hit a historic high of $864 billion in June, in large part due to a surge in federal spending aimed at stabilizing the economy during the coronavirus pandemic.

Economy Government Health

Fed Chair Warns Recovery Will Be Slow Until Virus Is Contained

June 30, 2020June 30, 2020 BRANDI BUCHMAN

coronavirus, Federal Reserve, Trump administration, U.S. Economy, U.S. House of Representatives, U.S. Treasury Department

With experts suggesting Covid-19 infections in the U.S. could more than double on a daily basis without better containment, the chair of the Federal Reserve also warned Congress on Tuesday that a full economic recovery will remain out of reach until the pandemic is under control.

Economy Financial Securities

Audit of Stimulus Hiccups Hits Wall Street With a Thud

June 25, 2020June 26, 2020 NICK RUMMELL

Audit, Bailout, coronavirus, lending, small business, U.S. Treasury Department

The federal government’s response to the coronavirus recession has helped prop up flailing companies and families, but it is also riddled with problems.