Links in “US Treasury”

NCUA has awarded 204 grants to 174 low-income credit unions for a total expenditure of $1,051,850.  NCUA had received 331 requests for grants this year for everything from funds for training to new products and services to fund application requests to the U.S. Department of the Treasury for approval to become a Community Development Financial Institution. [8/4/14]

FinCEN and the Treasury are amending the CDD requirements as part of the BSA in an effort to increase the transparency associated with the real people that own, control, and profit from the companies using banking services. [7/31/14]

July’s issue of The NCUA Report describes the process that NCUA is using to determine when a credit union will be assessed a civil money penalty for filing a late 5300 Call Report and includes measures the agency will take to consider extenuating circumstances before penalties are imposed. The names of the credit unions that are assessed penalties will be made public and all penalties collected will go to the U.S. Treasury and not to NCUA. [7/23/14]

The House has voted to let stand guidelines issued by the Treasury Department that identify the expectations for financial institutions that provide financial services to marijuana businesses in those states where it is legal. The House also approved a bill that would block the SEC and the Treasury Department from spending money to penalize financial institutions serving marijuana business in those states where the sale of marijuana is permitted. [7/17/14]

In a largely symbolic move, the House rejects a measure that would have blocked the Treasury Department from implementing guidance to banks in February on dealing with marijuana-related businesses. [7/17/14]

U.S. Treasury reports 23,000 permanent loan modifications were completed under the Home Affordable Modification Program, bringing the total since the start of the program to 1.3 million. [1/14]

HUD and Dept of Treasury release July report noting recovery and value of HAMP. [8/12]

First use of Section 311 Authority against virtual currency provider. [5/28]

Government-guaranteed student loan borrowers could be subject to rates tied to the 10-year Treasury note with annual rate adjustments under a bill passed by the House. [5/24]