This could be mimosa webworm or fall webworm damage. Both types are active now. We would need to see photos of the caterpillars inside the foliage/webs in order to make an accurate ID.
In any case, there is nothing you can do. The cosmetic damage is done and nothing will bring back healthy foliage at this point in the season. Many shade trees can tolerate caterpillar feeding damage; by this time of year, the trees have stored enough carbohydrates (food reserves) to be able to put out healthy growth again next year.
Here is information about mimosa webworm, an occasional pest in honeylocust trees (Gleditsia sp.), which is what you have there.