Treasury Department

March 07, 2022

Timi Iwayemi

Blog Post

cryptocurrencyForeign PolicyTreasury Department

Obscure Agency Must Deny Russian Oligarchs Possible Crypto Sanction Evasion Tool

While it is unlikely that an economy as large as Russia’s can be rerouted through present crypto infrastructure, there remains opportunity for targeted individuals and entities to leverage the industry’s weak compliance mechanisms to move some of their assets. The Treasury Department’s Office of Foreign Asset Control (OFAC) and Financial Crimes Enforcement Network (FINCEN), in conjunction with the White House’s National Security Council, need to ensure this does not happen. 

November 17, 2021

Eleanor Eagan

Newsletter

ClimateDepartment of JusticeExecutive BranchFederal ReserveIndependent AgenciesTreasury Department

After Infrastructure Week

Congressional selfies and self-congratulations inaugurated the week, but a lot of hard work remains to translate the Infrastructure Investment and Jobs Act’s (IIJA) policies into real-life results. Given that those policies are (generously) middling and that the most promising ones are underfunded, turning these into winning programs will demand energy, creativity, competence, and a strong commitment to the public interest.

October 26, 2021

Dorothy Slater

Blog Post

ClimateExecutive BranchFederal ReserveFinancial RegulationTreasury Department

Yellen Is Empowering Powell and Selling Out the Climate

It is very possible that President Biden will show up empty-handed to COP26 in Glasgow next week. And that isn’t just because of the apocalyptic vanity of two Senators from Arizona and West Virginia. Many executive-led policies that are just a matter of political will have not been done, and some of those which have are pure paper tigers. Biden’s administration failed last week to take advantage of a lesser known, but extremely meaningful climate action opportunity. The Financial Stability Oversight Council (FSOC) released its long-awaited report on climate-related financial risk, which the President personally ordered months ago. And it was a complete flop. 

July 08, 2021

Press Release

BigLawClimateFinancial RegulationRevolving DoorTreasury Department

Biden Must Withdraw ExxonMobil- And Wall Street-Linked Nominee, 23 Groups Say

“As a private corporate attorney, MacBride defended fossil fuel companies, Wall Street giants, Big Tech monopolies, and a myriad of other corporate industries,” the groups wrote. “His past work fighting vigorously and successfully on behalf of corporations against the public interest disqualifies him from a role in the administration.”

April 22, 2021

Elias Alsbergas

Blog Post

Ethics in GovernmentExecutive BranchFinancial RegulationTreasury Department

Delaware Connections Run Deep As DuPont Family's Darla Pomeroy Heads To Treasury

Darla Pomeroy, who is married to an heir to the DuPont family fortune, was just named Senior Advisor to the Office of Domestic Finance at the US Treasury. While her record does not show any familiarity with financial regulatory policy, it reveals instead a history of a powerful corporation highly influential in Delaware placing a close ally in the administration.

April 08, 2021

Vishal Shankar

Blog Post

CabinetDepartment of JusticeEthics in GovernmentExecutive BranchRevolving DoorRight-Wing MediaTreasury Department

Biden Cabinet Confirmations Show Continued Political Potency Of Revolving Door Critiques

The prolonged confirmation fights for top Biden nominees proved one thing: Republicans will gleefully and cynically exploit anti-corruption critiques of Biden’s Cabinet for their own political purposes. The President must deny them this potent political weapon by closing corporate America’s revolving door for good.

March 23, 2021

Vishal Shankar

Blog Post

ClimateExecutive BranchForeign PolicyRevolving DoorTreasury Department

Revolver Spotlight: Elizabeth Rosenberg

Elizabeth Rosenberg, a lesser-known Obama-era official, is being considered to lead the Treasury Department’s Terrorism and Financial Intelligence unit. Her record designing painful economic sanctions, supporting fossil fuel industry-friendly policies, and helping powerful corporations gain close access to the highest levels of government is cause for alarm, writes Vishal Shankar.