Department of the Treasury March 9, 2021 – Federal Register Recent Federal Regulation Documents
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Emergency Capital Investment Program-Restrictions on Executive Compensation, Share Buybacks, and Dividends
Section 104A of the Community Development Banking and Financial Institutions Act of 1994, which was added by the Consolidated Appropriations Act, 2021, establishes the Emergency Capital Investment Program to support capital investments in low- and moderate-income community financial institutions. The program is available to eligible minority depository institutions and community development financial institutions that are insured depository institutions, bank holding companies, savings and loan holding companies, or federally insured credit unions. Under Section 104A, the Secretary of the Treasury is required to issue rules setting restrictions on executive compensation, share buybacks, and dividend payments for recipients of capital investments under the program. This interim final rule establishes these restrictions.
Privacy Act of 1974; System of Records
In accordance with the Privacy Act of 1974, the Department of the Treasury (``Treasury'' or the ``Department''), Departmental Offices proposes to modify a current Treasury system of records titled, ``Department of the Treasury, Departmental Offices .214D.C. Pensions Retirement Records'' System of Records. This system of records is a collection of information used by the Office of D.C. Pensions to administer certain District of Columbia (``District'') retirement plans, and the modification of the system of records notice is being published in order to clarify and update the description of the system of records.
Notice of OFAC Sanctions Actions
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List (SDN List) based on OFAC's determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
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