Tagged: U.S. Treasury

The Senate voted 71-26 today to confirm the nomination of Jacob "Jack" Lew as the country's next Treasury secretary.

General Motors Co. said today that its Chief Executive Dan Akerson will not take a pay raise this year.

Documents filed with the House Committee On Oversight and Government Reform showed that GM was asking the U.S. government to OK a $2.1 million raise for Akerson. The government still owns part of GM and when the automaker took a $49.5 billion bailout, it agreed to have executive pay approved by government.

Every month, the government sends out about 5 million checks to Americans who receive federal benefits. On March 1, the Treasury Department is making those paper checks a thing of the past.

Since May 2011, all new Social Security recipients are required to get direct deposit of their benefits. Some 93 percent of all recipients now do.

But there are still holdouts, so the Treasury Department started a campaign and a website, Go Direct, in an effort to convince the remaining 7 percent.