Treasury Department

Iran and the United States exchanged strikes after Iranian attacks on commercial vessels in the Strait of Hormuz. President Trump ordered U.S. military strikes on Iran and revoked a sanctions waiver, while Iran claimed the ceasefire was rendered ineffective. World oil prices rose over 5% following Trump's declaration that the interim deal with Iran was over.

President Donald Trump's executive order mandated the creation of an AI cybersecurity clearinghouse within 30 days to coordinate vulnerability discovery and patching in critical infrastructure. The article highlights risks that the clearinghouse may become a stalled committee rather than an effective solution, emphasizing the bottleneck between AI-driven vulnerability detection and the slower human processes required for validation, patching, and deployment.

The U.S. military conducted airstrikes on Iranian targets in the Strait of Hormuz following Iranian attacks on commercial ships. The escalation risks undermining a recent Memorandum of Understanding (MOU) between the U.S. and Iran aimed at ensuring safe passage through the strait and initiating nuclear talks.

Spain arrested a man suspected of providing logistical support to a Ukrainian hacker linked to the pro-Russian hacktivist group Cyber Army of Russia Reborn. The FBI collaborated with Spanish authorities in the arrest, part of Operation Riptide targeting cybercriminal networks. The suspect also allegedly supported the pro-Russian group NoName057(16) and was involved in facilitating the escape of another hacker to Russia via Poland and Belarus.

The Treasury Department has scrapped plans to feature Harriet Tubman on the $20 bill, as stated by Treasury Secretary Scott Bessent. The Trump administration is 'not at present' planning to place her likeness on the bill.

President Donald Trump launched Trump Accounts, a children’s investment program, by ringing the opening bell for the New York Stock Exchange and Nasdaq. The Treasury Department reported 6 million children enrolled, with $1.4 billion in federal seed money allocated for eligible participants, while the Dell family pledged $6.25 billion to fund accounts for lower-income families.

The Trump administration launched 'Trump Accounts' for children, offering $1,000 in seed money for those born during Trump’s term, with over 6 million kids already enrolled. Officials plan to promote the accounts through partnerships, billboards, and collaborations, and Elon Musk is reportedly in talks to contribute stock to the program.

President Trump will host New York Stock Exchange and Nasdaq officials in the Oval Office on Monday for an opening bell ceremony. The Treasury Department launched 'Trump Accounts' on July 4, allowing contributions through an app for parents to fund children's investment accounts.

Trump Accounts, a new custodial IRA for children under 18, launched on the Fourth of July. The Treasury Department will invest contributions in the State Street SPDR Portfolio S&P 500 ETF (SPYM) by default, aligning with Warren Buffett's advocacy for S&P 500 index funds. Eligible children born between 2025 and 2028 receive an initial $1,000, and contributions can come from multiple sources including employers and philanthropists.

President Donald Trump is launching Trump Accounts on July 4, offering $1,000 government contributions for children born between 2025 and 2028, and $250 for those in eligible ZIP codes. Families can contribute up to $5,000 annually, with over 6 million kids already enrolled. Some parents express skepticism about the program's effectiveness.

President Donald Trump shared an image of a $100 bill with his signature, following the Treasury Department's announcement that a sitting president's signature would appear on U.S. currency for the first time. Treasury Secretary Scott Bessent stated the move honors the 250th anniversary of the United States, though it is unclear if such bills are currently being printed. The bill previously featured the Treasury secretary and treasurer's signatures but not the president's.

The Trump administration plans to launch Trump Accounts next week without allowing firms to host the children’s savings accounts on their platforms. Companies like Chime, Empower, Fidelity, and SoFi had hoped to enable rollovers from the Treasury Department’s app, developed with Bank of New York Mellon and Robinhood, but guidance on rollovers may not arrive until August.

The Trump administration has discussed with SpaceX the possibility of donating stock to children’s savings accounts called Trump Accounts, set to launch soon. The potential donation could symbolize a reconciliation between Elon Musk and President Donald Trump after a previous conflict. The Treasury Department partners with Bank of New York Mellon and Robinhood for the account rollout.

The IRS and Treasury Department announced that contributions to a Trump Account do not require filing a gift tax return. Parents, guardians, and others making such contributions are exempt from annual gift tax reporting requirements.

Treasury Secretary Scott Bessent increased involvement in AI policy after financial institutions warned advanced models could threaten critical infrastructure like the Federal Reserve payment systems. Banks and the Treasury have collaborated with the Fed to develop alternative fund transfer methods, while advanced models like Anthropic’s Mythos intensified concerns about risks to financial stability and national security.

A US official confirmed that frozen Iranian funds have not been released and will remain frozen until Iran meets the terms of Trump's interim agreement. Treasury Secretary Scott Bessent stated the Treasury Department would oversee any future spending of these funds, with a significant portion allocated to purchasing US foodstuffs and medicines.

The U.S. Treasury Department has issued a temporary license allowing Iranian oil sales, marking a significant shift in policy for President Trump and the longstanding U.S. sanctions against Iran.

The United States authorized Iranian oil sales, easing sanctions as part of efforts to finalize a peace deal with Iran. The Treasury Department's general license allows Iranian oil and petroleum product sales through August 21, contingent on commitments regarding nuclear inspections and free transit through the Strait of Hormuz.

The Treasury Department has authorized Iranian oil sales through August. Iranian supertankers have reactivated their transponders after going dark during the war as they transport oil.

The US government is suspending sanctions on Iran's production, delivery, and sale of crude oil, petrochemical products, and petroleum products until 21 August 2026. The Treasury Department's waiver also permits US imports of Iranian-origin petrochemical and petroleum products for domestic use.

The Trump administration's Iran framework provides immediate oil sanctions waivers to Iran while delaying nuclear program discussions, relying on monitoring to deter violations. U.S. officials acknowledge risks of Iranian noncompliance but highlight down-blending of enriched uranium as a key concession. Trump defended the deal as necessary to avoid conflict and economic disruption.

The Treasury Department is defending its decision to exempt US companies from a global minimum tax, which has allowed them to avoid $40 billion in taxes, according to a report by The New York Times. Deputy Assistant Secretary Rebecca Burch described the exemption as a 'coexistence mechanism' tied to US sovereignty and compliance challenges, not a repeal of US tax obligations.

The Treasury Department expanded bank data-sharing rules to support Trump's immigration enforcement efforts, allowing banks to rapidly share information about suspected customers and flag signs of undocumented status. The changes, framed as anti-fraud measures, include real-time information sharing and broader criteria for reporting, such as use of individual taxpayer identification numbers (ITINs).

The Treasury Department expanded bank data-sharing rules to support President Donald Trump’s immigration enforcement efforts, allowing banks to rapidly share customer information suspected of lacking legal status. The changes, framed as anti-fraud measures, follow an executive order directing banks to scrutinize customer citizenship without explicitly mandating data collection. Banks can now share information in real time and use flags like individual taxpayer identification numbers (ITINs) historically linked to undocumented immigrants.

The Treasury Department expanded bank data-sharing rules to support President Trump's immigration enforcement efforts, allowing banks to rapidly share information about suspected customers and flag potential immigration status issues. The changes, framed as anti-fraud measures, follow an executive order directing banks to scrutinize customer citizenship without explicitly mandating data collection.

The Treasury Department expanded bank data-sharing rules to support President Donald Trump's immigration crackdown, allowing banks to rapidly share information about suspected customers and flag potential immigration status issues. The changes, framed as anti-fraud measures, follow an executive order directing banks to review customer citizenship and enhance collaboration with regulators.

The Treasury Department is granting banks new authority to share surveillance video and cyber data to combat cartel financiers and illegal immigration fraud rings. The initiative, led by Treasury Secretary Scott Bessent, follows $2.5 billion in suspicious banking activity linked to payroll tax fraud schemes.

First lady Melania Trump and Treasury Secretary Scott Bessent announced Fostering the Future Accounts, a program providing $1,000 to U.S. newborns through Trump Accounts, with a focus on foster children. The initiative allows child welfare agencies to act as guardians for foster care enrollment, starting July 4, for children born between 2025 and 2028. Twenty-three Republican governors have pledged to enroll children in the program, which aims to improve long-term financial outcomes for foster youth.

Melania Trump announced a new program allowing states to act as legal guardians and open investment accounts for foster youth under their care. The initiative is managed through the Treasury Department.

The United States increased pressure on Iran through new sanctions and threats of military strikes. President Donald Trump warned of further action, and the Treasury Department targeted entities linked to Iran's weapons procurement, including some in China and Hong Kong.

The article discusses recent and historical cases of Supreme Court justices facing scrutiny over family members' actions, including Justice Samuel Alito's son's Treasury Department job and past controversies involving Justice Alito and others. It references calls for recusal in cases tied to the Treasury Department, the Jan. 6 Capitol events, and the 2020 election, as well as past ethical challenges involving Justice Tom C. Clark and his son.

The Treasury Department plans to use Iranian assets to assist Gulf allies in rebuilding from war damage, as reported by CBS News citing a source familiar with Treasury Secretary Scott Bessent's thoughts.

The Treasury Department is considering allowing Gulf allies to access frozen Iranian assets to pay for damages sustained in the war. This potential move aims to facilitate recovery for Gulf allies using assets currently held due to sanctions.

The Treasury Department plans to use Iranian assets to help U.S. Gulf allies recover from damage caused by Tehran's regime, according to a source familiar with Treasury Secretary Scott Bessent's thinking as reported by CBS News.

The Treasury Department plans to use Iranian assets to help U.S. Gulf allies recover from damage caused by Tehran's regime, according to a source familiar with Treasury Secretary Scott Bessent's thinking.

Private companies Pioneer Credit Recovery and Transworld Systems, previously penalized for misleading student-loan collection practices, may resume collecting defaulted loans under a Trump-era transfer to the Treasury Department. This move could increase collection fees and repayment challenges for over 10 million borrowers in default or delinquency, as concerns about predatory tactics resurface.

The Treasury Department, along with regulators, directed banks to flag suspicious activities linked to undocumented immigrants, including identity theft and payroll fraud, and to assess risks from using taxpayer identification numbers. The Consumer Financial Protection Bureau had already acted on the executive order, and House Financial Services Chair French Hill questioned the policy's feasibility for banks.

The Treasury Department is taking action to combat illegal immigrant labor by requesting banks to report accounts associated with payroll fraud schemes. Banks are being urged to identify and disclose 'red flags' linked to such fraudulent activities.

The U.S. imposed sanctions on Cuban President Miguel Díaz-Canel, as reported in a Treasury Department filing. The action is attributed to the Trump administration's efforts to pressure Cuban leaders.

Treasury Secretary Scott Bessent and Rep. Linda Sánchez exchanged heated remarks during a congressional hearing over a DOJ settlement requiring the IRS to halt audits of President Trump. Sánchez accused Bessent of overseeing the 'most corrupt Treasury Department' in U.S. history, while Bessent called her claims 'slanderous.'