News: Two cabinet secretaries appeared to walk back plans to “eliminate” a Treasury Department organization that funds community development financial institutions, according to an interview and statement shared with Punchbowl News. Treasury Secretary Scott Bessent, who is responsible for the CDFI Fund, said in a statement Tuesday that the Trump administration “recognizes the important role that the CDFI Fund and CDFIs play in expanding access to capital and providing technical assistance to communities across the United States.” And in an interview, Department of Housing and Urban Development Secretary Scott Turner told us the Trump administration wasn’t trying to shut down the CDFI Fund. However, Turner did suggest that changes could be coming to the beloved and bipartisan program. “This is really a tightening and a streamlining,” Turner said.

The Vault

February 06, 2025

Treasury targets Iran, plus GOP meets with a16z, UAW

The Treasury Department announced new sanctions targeting an Iranian crude oil network with links to China.

The sanctions – the first introduced since Treasury Secretary Scott Bessent was sworn into the job – focus on Sepehr Energy, which the government said operates “under the umbrella” of the Iranian military.

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