Topic - Department Of The Treasury

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  • Two Russian banks, including Bank Rossiya, the lender that was put on the U.S. Treasury's sanctions list, said Visa and MasterCard have stopped providing services to them. Bank Rossiya is a private bank owned by Yuri Kovalchuk, considered to be Russian President Vladimir Putin's longtime friend and banker. With about $10 billion in assets, Rossiya ranks as the 17th-largest bank in Russia and maintains numerous ties to banks in the United States, Europe and elsewhere. (Associated Press)

    U.S. corporate giants fear blowback from sanctions on Russia over Ukraine

    The Obama administration claims it can use economic sanctions to punish Russian aggression in Eastern Europe, but the strategy has quickly run into problems, say analysts, who note that too aggressive a move by the White House could result in blowback on major American companies with close ties to the Russian economy.

  • Gov't report says US lost $11.2B on GM bailout

    A new report says taxpayers lost $11.2 billion on the government's bailout of General Motors.

  • A Chinese clerk counts U.S. dollars in exchange for Chinese renminbi at a Hefei, China, bank. (Associated Press)

    U.S. Treasury warns China on currency

    In unusually pointed language, the U.S. Treasury on Tuesday warned China and Japan that it is closely watching them out of concern they may be intentionally depreciating their currencies to gain an advantage in trade with U.S. competitors.

  • US sanctions suspected Honduran drug trafficker

    The Treasury Department is levying sanctions against suspected maritime drug trafficker Carlos Arnoldo Lobo for moving multi-ton loads of cocaine for Mexican, Guatemalan and Honduran drug kingpins and their organizations.

  • Treasury says Lew's outpatient surgery went well

    The Treasury Department says Secretary Jacob Lew's surgery to deal with a benign enlarged prostate went as planned.

  • US Treasury Secretary Lew to undergo surgery

    The Treasury Department says Treasury Secretary Jacob Lew will undergo surgery Tuesday to treat a benign enlarged prostate.

  • Feds defy warnings over porn surfing; more get caught years after scandal

    When confronted with the charge that he had looked at pornography on his government computer 13,224 times during a 14-month span, one Bureau of Public Debt employee offered a novel excuse: He had too much time on his hands.

  • Just-cut stacks of $100 bills make their way down the production line at the Bureau of Engraving and Printing's Western Currency Facility in Fort Worth, Texas, on Tuesday, Sept. 24, 2013. (AP Photo/LM Otero)

    'Compromised' keys cost Treasury Department big bucks

    IRS officials disclosed that keys at two leased Treasury Department buildings in Washington have been "compromised," and the agency has signed off on an emergency no-bid contract for a locksmith to change hundreds of locks.

  • Ousted IRS chief Steve Miller, right, and J. Russell George, Treasury Inspector General for Tax Administration, are sworn in on Capitol Hill, in Washington, Friday, May 17, 2013, prior to testifying before the House Ways and Means Committee hearing on the Internal Revenue Service (IRS) practice of targeting applicants for tax-exempt status based on political leanings. (AP Photo/Charles Dharapak)

    Official's testimony reveals IRS planned crackdown rules in 2012

    The IRS's new proposal to crack down on nonprofits was in the works a year before the tea party targeting scandal broke, according to a Treasury Department official who told congressional investigators it was spurred by pressure from outside parties.

  • Health care tweak: Big companies get wiggle room

    Big retail stores, hotels, restaurants and other companies with lots of low-wage and part-time workers are among the main beneficiaries of the Obama administration's latest tweak to health care rules.

  • Wiggle room for big firms under new coverage rule

    Big retail stores, hotels, restaurants and other firms with lots of low-wage and part-time workers are among the main beneficiaries of the Obama administration's latest tweak to health care rules.

  • Judge: NJ must disclose records in long dispute

    A New Jersey judge this week ordered the state Treasury Department to hand over most of the documents requested by a blogger who is investigating the pension deal for a top assistant to Lt. Gov. Kim Guadagno when she was the Monmouth County sheriff.

  • US, Canadian boaters left in limbo in Mexico

    MEXICO CITY (AP) — When heavily armed marines and government tax agents stormed eight marinas on Mexico's Pacific and Caribbean coasts, boaters thought they were witnessing a major drug takedown.

  • FILE - In this Thursday, Jan. 10, 2013 file photo, the logo for General Motors decorates the entrance to a former UPS facility as GM announced plans to open an information technology center in the building, in Roswell, Ga. The U.S. government ended up losing $10.5 billion on its bailout of General Motors, but still says Monday, Dec. 9, 2013 that the alternative would have been much worse. (AP Photo/David Goldman, File)

    Treasury sells last shares in 'Government Motors'

    Say goodbye to "Government Motors." The Obama administration announced Monday the Treasury Department has sold its remaining shares in General Motors at more than a $10 billion loss for taxpayers, about five years after providing the country's top automaker with a $49.5 billion bailout in exchange for a majority stake in the company that helped it earn the nickname "Government Motors."

  • Sen. Ted Cruz, R-Texas, gestures as he talks with reporters on Capitol Hill, Wednesday, Oct. 16, 2013, in Washington. Leaders reached a last-minute agreement to avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown. Cruz said he would not try to block the agreement. (AP Photo/Carolyn Kaster)

    Senate leaders announce agreement to end shutdown, raise debt

    Top senators struck a deal Wednesday to reopen the government and extend the federal government's borrowing authority into next year and both sides of the Capitol are hoping for quick action to reassure nervous financial markets eyeing a Thursday deadline set by the Treasury Department.

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