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The Latest Breaking News from the Treasury Department

This summer will be decisive for the economy and Wall Street

More fiscal sticker shock could send Treasury yields higher and add more pressure on the dollar, which is already down 10% this year, its worst first-half performance in more than 50 years.

Fortune

Mexican President Sheinbaum Says There Is 'Simply No Proof' That Local Banks Laundered Money For Cartels

Mexican President Claudia Sheinbaum rejected U.S. sanctions against three Mexican banks over money laundering accusations

Latin Times

U.S. Sanctions Mexican Banks Over Alleged Role in Laundering Cartel Funds, Buying Fentanyl Chemicals

The U.S. Treasury Department has sanctioned three Mexican financial institutions, alleging they were used by drug cartels to launder millions of dollars.

Latin Times

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U.S. Targets 10 Front Companies Used by 'Los Chapitos' to Launder Fentanyl Proceeds

U.S. officials say a real estate firm, a spa, and a clothing rental service are among the front companies used by Los Chapitos to launder proceeds from their fentanyl trafficking operations

Latin Times

U.S. Hits El Chapo's Fugitives Sons with Sanctions, $10M Bounties Over Fentanyl Trafficking

Iván Archivaldo Guzmán Salazar and his brother, Jesús Alfredo Guzmán Salazar, are believed to be the current leaders of the Los Chapitos faction within the Sinaloa Cartel. The Treasury Department increased the bounties for their capture and deepened the sanctions against them.

Latin Times

Senate Banking would zero out CFPB funding in reconciliation - Roll Call

Other reconciliation provisions for Banking panel would pare spending at the Fed, Treasury, HUD and at the Securities and Exchange Commission.

Roll Call

US lifts first sanctions on Syria following Trump’s surprise announcement

The president announced the sanctions relief in May, ahead of an unannounced visit with Syrian leader Ahmed al-Sharaa.

Al Jazeera

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Goodbye to the Penny! Treasury Department announces plan to phase out the coin

The U.S. mint made its final order of penny blanks, the Treasury Department said Thursday.

The Independent UK

Al-Qaeda and Hezbollah leaders among terrorists who pay Elon Musk for X subscriptions, study finds

Tech Transparency Project finds several terrorists and others under sanctions have premium blue checkmark accounts on X

The Independent UK

McKernan, in limbo as CFPB nominee, to get a shot at Treasury - Roll Call

Jonathan McKernan, awaiting a Senate vote on his nomination to lead the CFPB, will get tapped for another job at the Treasury Department.

Roll Call

Is It Still Worth It to Gift Savings Bonds?

Kiplinger editor explores if it's still a good idea to get savings bonds as gifts for children, looking at their returns and usability.

Kiplinger

The Trump Administration Climate Plan: Red States Get Hydrogen, Blue States Don’t

In Pennsylvania, a hydrogen hub in upheaval as natural gas producer pauses involvement while four others bail on the project.

Capital & Main

The IRS interim commissioner was just ousted after Scott Bessent reportedly fussed to Trump that Elon Musk installed the leader behind his back

Gary Shapley was named the new agency leader on Tuesday.

Fortune

US imposes sanctions on a Chinese refinery accused of buying Iranian oil

The Treasury Department has imposed sanctions on a Chinese oil refinery that's accused of purchasing more than $1 billion worth of Iranian oil

The Independent UK

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International Business Times

IRS Head Resigns Following Controversial ICE Data-Sharing Agreement

IRS Acting Commissioner Melanie Krause resigns following controversy over a deal allowing ICE access to taxpayer data for deportation efforts.

The Independent UK

IRS chief resigns after Trump administration strikes deal to share undocumented taxpayer data

‘Backroom deal’ could hand taxpayer data to ICE agents as part of Trump’s deportation blitz

Salon

Telling us to "save more" isn't working

Without a drastic reimagining of our systems, we face a poverty crisis

inkl

Crypto Power Play: Trump’s Executive Order and the Future of Digital Assets

On March 6, 2025, U.S. President Donald Trump issued an executive order to establish a Strategic Bitcoin Reserve alongside a stockpile of other cryptocurrencies—including Ethereum, XRP, Solana, and Cardano—both managed by the Treasury Department. This move represents a significant shift in the United States' approach to digital currencies, as the…

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Fortune

The IRS could collect $500 billion less in tax revenue, report says, and the US may run out of cash in a few months without a debt-ceiling hike

An expected 10% revenue decline is due to changes in taxpayer behavior and President Donald Trump's cuts to the IRS, according to The Washington Post.

The Independent UK

Judge blocks DOGE from accessing sensitive information at US agencies

A federal judge has temporarily blocked Elon Musk’s Department of Government Efficiency from accessing people’s private data at the Education Department, the Treasury Department and the Office of Personnel Management

Fortune

A 25-year old DOGE staffer violated Treasury policies by emailing unencrypted personal data

The 25-year-old DOGE staffer was also "mistakenly" given read-and-write access to Treasury systems during his time at the department.

International Business Times

Democrat Urges Treasury To Block Trump's Bitcoin Reserve, Blasts 'Get Rich Quick Scheme'

A top Democrat has urged the Treasury Department to not push through with President Donald Trump's plans to establish a strategic Bitcoin reserve, saying it's just a new "scheme" for the president and his associates to benefit from.

Investors Business Daily

White House Crypto Summit Offers Details On Trump's Bitcoin Reserve

White House crypto summit reveals some details on the new strategic bitcoin reserve. President Trump is expected to speak.

Top News

Federal Judges Issue Split Rulings On DOGE Access To Treasury Data

Federal judges in Virginia and New York issue split rulings on DOGE's access to Treasury data, with restrictions remaining in place.

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Joaquin “El Chapo” Guzman

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