Treasury prepares RIF for office created avoid financial crisis, IRS IT resumes hiring after mass reassignments

March 30, 2026 - 21:42

The U.S. Department of the Treasury is preparing to issue reduction-in-force (RIF) notices to staff at the Office of Financial Research (OFR). This move signals a significant downsizing of the office Congress established in 2010 to monitor systemic risks and help prevent another financial crisis like the one that crippled the global economy in 2008.

The OFR was a cornerstone of the Dodd-Frank Wall Street Reform and Consumer Protection Act, tasked with providing data and analysis to the Financial Stability Oversight Council. Its potential downsizing has raised concerns among some experts about the nation's ongoing preparedness to identify emerging threats within the financial system.

In a separate but concurrent development, the Internal Revenue Service has resumed hiring for information technology positions. This follows a period of internal reassignments as the agency works to modernize its aging technology infrastructure and implement strategic changes. The hiring push is part of a broader, multi-year effort to improve taxpayer service and enforcement capabilities funded through recent legislative acts. These parallel actions highlight the shifting administrative priorities and resource allocations within the nation's key financial agencies.