Search Results for keywords:"International Emergency Economic Powers Act"

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Search Results: keywords:"International Emergency Economic Powers Act"

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  • 2025-05349 — Agency Information Collection Activities; Proposed Renewal; Comment Request; Renewal Without Change of Reporting Obligations on Foreign Bank Relationships With Iranian-Linked Financial Institutions Designated Under IEEPA and IRGC-Linked Persons Designated Under IEEPA
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    Type:Notice
    Citation:90 FR 14183
    Reading Time:about 29 minutes

    The Financial Crimes Enforcement Network (FinCEN), part of the Treasury Department, is asking for public comments on their plan to renew a rule without changes. This rule requires U.S. banks to gather and report information about financial dealings with specific foreign banks that may do business with Iranian-linked institutions or people associated with the Islamic Revolutionary Guard Corps (IRGC). FinCEN's aim is to continue enforcing these information collections to help monitor and regulate financial activities, with the ultimate goal of preventing money laundering and terrorism financing. The request for comments is in line with efforts to reduce paperwork and examine the burden these regulations place on both U.S. and foreign banks.

    Simple Explanation

    FinCEN, a part of the U.S. government, wants to keep a rule that asks U.S. banks to check if foreign banks they're connected with are doing business with some Iranian groups. They're asking people to share their thoughts on how this rule affects banks and might help catch bad guys moving money.

  • 2025-06836 — Ensuring National Security and Economic Resilience Through Section 232 Actions on Processed Critical Minerals and Derivative Products
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    Type:Presidential Document
    Citation:90 FR 16437
    Reading Time:about 7 minutes

    The Executive Order 14272 directs the U.S. Secretary of Commerce to investigate the national security impact of importing processed critical minerals and their derivative products. These materials are crucial for the economy and defense because they are used in important sectors like transportation and technology. The investigation will assess risks including the reliance on foreign sources that might be unstable, and it will explore measures like tariffs and incentives for domestic production. This action aims to ensure a resilient and secure supply chain for these vital materials.

    Simple Explanation

    The government wants to check if getting important minerals from other countries might be risky for our safety and the economy, and they're thinking about making new rules to make sure we have enough of these minerals here at home.

  • 2025-00786 — Inflation Adjustment of Civil Monetary Penalties
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    Type:Rule
    Citation:90 FR 3687
    Reading Time:about 22 minutes

    The Office of Foreign Assets Control (OFAC) under the Department of the Treasury has issued a final rule to adjust civil monetary penalties for inflation, as required by law. This adjustment aims to maintain the deterrent effect of these penalties by reflecting changes in the cost of living. The updated penalties apply across various statutes like the Trading With the Enemy Act, the International Emergency Economic Powers Act, and others. The rule will be effective beginning January 15, 2025, and does not require prior public notice or comment.

    Simple Explanation

    The government has decided to update some penalty fees so they stay effective and continue to discourage rule-breaking, just like how your allowance might increase to keep up with prices going up for candy. These new penalty amounts will start from January 15, 2025.