Treasury Department


  • Puerto Rico approves law to crack down on tax evasion Wednesday, 1 Apr 2015 | 5:34 PM ET

    SAN JUAN, Puerto Rico— Puerto Rico's governor has signed a law that requires service providers to accept at least two different types of payment in a push to crack down on tax evaders. The Treasury Department now has three months to implement the measure that Gov. Puerto Rico's government currently has only a 56 percent "capture" rate on tax revenues that should be...

  • Obama signs order creating new cyber sanctions program Wednesday, 1 Apr 2015 | 8:59 AM ET

    The latter category could include state-owned corporations in Russia, China and elsewhere, setting the stage for major diplomatic friction if the sanctions are employed in that way. "We are excited about this new tool that will allow us to expose and isolate those behind malicious cyberactivity," said John Smith, who directs the Treasury Department division...

  • The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.035 percent, up from 0.020 percent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.135 percent, up from 0.105 percent last week. For a $10,000 bill, the three-month price was $9,999.12 while a six-month bill sold for $9,993.18.

  • PayPal to pay $7.7M in sanctions violations settlement Wednesday, 25 Mar 2015 | 4:24 PM ET

    WASHINGTON— PayPal Inc. has agreed to pay $7.7 million to settle with U.S. regulators who said the payments company allowed violations of U.S. sanctions against Iran, Cuba and Sudan. The Office of Foreign Assets Control, an agency of the Treasury Department, announced Wednesday the civil settlement with the digital payments processor. The agency said PayPal, a...

  • WASHINGTON, March 25- PayPal, the electronic payments firm, agreed to pay $7.7 million to settle charges by the U.S. Treasury Department that it violated numerous sanctions programs against countries that include Iran, Cuba and Sudan, Treasury said on Wednesday. PayPal, owned by EBay Inc, did not adequately screen its transactions for U.S. sanctions targets for...

  • PayPal to pay $7.7 mln in sanctions case Wednesday, 25 Mar 2015 | 1:58 PM ET

    WASHINGTON, March 25- Mobile payments firm PayPal is set to pay $7.7 million in a settlement with the U.S. Treasury Department over violations of numerous sanctions programs, including Iran, Cuba and Sudan, Treasury said in a statement on Wednesday. PayPal, the payments division of the e-commerce company EBay Inc, did not adequately screen its transactions for...

  • Rates fall at weekly US Treasury auction Monday, 23 Mar 2015 | 4:00 PM ET

    The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.020 percent, down from 0.040 percent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.105 percent, down from 0.145 percent last week. For a $10,000 bill, the three-month price was $9,994.94, while a six-month bill sold for $9,946.92.

  • Consumer tips for using paid tax preparers Sunday, 22 Mar 2015 | 7:54 AM ET

    Some consumer tips to help avoid excessive fees or potential fraud when using paid tax preparers, according to the Justice Department, Internal Revenue Service and the Consumer Financial Protection Bureau:. —Report abusive tax preparers to the IRS, using forms 14157 and 14157- A. If your income is $53,000 or less, if you have a disability or are a limited English...

  • HealthCare.gov sending out corrected tax forms Friday, 20 Mar 2015 | 2:09 PM ET

    WASHINGTON— The Obama administration said Friday it's making progress trying to correct a tax-form error that affected 820,000 customers of HealthCare.gov. The Treasury Department announced Friday that taxpayers who got incorrect information from state exchanges won't be required to submit corrected returns if they have already filed their taxes.

  • COLUMN-U.S. student borrowers need relief in bankruptcy Wednesday, 18 Mar 2015 | 8:00 AM ET

    LOS ANGELES, March 18- Two changes to the U.S. consumer bankruptcy process could help some of the most trapped student loan borrowers free themselves from a modern-day debtors' prison. President Barack Obama last week directed three U.S. government agencies- the Department of the Treasury and Education as well as the Consumer Financial Protection Bureau- to...

  • Shh! What Yellen won’t say and how to trade it Wednesday, 18 Mar 2015 | 7:00 AM ET
    Federal Reserve Chair Janet Yellen adjusts her glasses as she testifies at a Senate Banking, Housing and Urban Affairs Committee hearing on "Semiannual Monetary Policy Report to Congress" on Capitol Hill in Washington, February 24, 2015.

    The Federal Reserve won't mention this topic in its official statement Wednesday.

  • Cut US debt before it's too late: Ex-Gov Daniels Tuesday, 17 Mar 2015 | 11:30 AM ET
    Then-Indiana Gov. Mitch Daniels leaves the White House after a meeting of the National Governors Association with President Barack Obama in February 2012.

    Washington needs to "get serious" about the nation's debt to help jump-start the economy's recent "limping rate," ex-Governor and former OMB Director Mitch Daniels warns.

  • NEW YORK, March 16- Foreign investors sold U.S. Treasuries for a third straight month in January, pushing outflows to their highest in at least three years, according to the latest available data from the U.S. Treasury Department on Monday. Treasuries totaled $55.08 billion in January, compared with outflows of $15.6 billion in December.

  • *Andorra says banking system under stress. MADRID, March 16- State-appointed managers at Andorra's Banca Privada d' Andorra have capped cash withdrawals in an attempt to contain the damage from U.S. allegations the bank laundered money for international criminal gangs. Andorra took control of the bank after the U.S. Department of the Treasury described it last...

  • Customers of Banco Madrid, which caters for wealthy people, rushed to empty their accounts after parent group, Andorran lender Banca Privada d' Andorra, was described by the U.S. Department of the Treasury as an "easy vehicle" for criminal gangs in Russia and China to funnel their profits. Banco Madrid had 15,000 clients with assets under management of about 6...

  • Obamacare's new 'special' sign-up period for tardy Friday, 13 Mar 2015 | 2:12 PM ET
    A man holds a sign directing people to an insurance company where they can sign up for the Affordable Care Act, in Miami last month.

    People who only now are learning they owe an Obamacare penalty for 2014 will get another chance to sign up for insurance this year.

  • Lew sends letter to Boehner   Friday, 13 Mar 2015 | 2:04 PM ET
    Lew sends letter to Boehner

    CNBC's Eamon Javers reports Treasury Secretary Jack Lew has issued a new letter to Speaker of the House John Boehner on the U.S. debt limit.

  • NEW YORK, March 12- U.S. The benchmark 10- year note was last off 1/ 32 and yielding about 2.11 percent, according to Thomson Reuters data. Gains for other maturities narrowed after the U.S. Treasury Department sold previously issued 30- year bonds at a yield of 2.681 percent to soft demand, Treasury data showed.

  • U.S. budget deficit dipped to $192 billion in February Thursday, 12 Mar 2015 | 2:00 PM ET

    WASHINGTON, March 12- The U.S. budget deficit was $192 billion in February, down 1 percent from the same period last year, according to data released by the Treasury Department on Thursday. The deficit was $194 billion in February of 2014, according to Treasury's monthly budget statement. If adjusted for timing-related transactions, the budget deficit would...

  • PANAMA CITY, March 11- Panama's banking regulator said on Wednesday it had seized the local unit of Banca Privada D' Andorra, as the lender's Andorra- based headquarters is being investigated by the United States government for possible money laundering. On Tuesday, the U. S Department of the Treasury named BPA as an institution of primary money laundering...