Press Releases & Statements | Page 40

FIFA Bribery Scandal Raises Questions about Anti-Money Laundering Checks in U.S. Banks

June 3, 2015

The recent bribery scandal involving soccer’s international governing body, FIFA, has revealed involvement of U.S. banks in moving alleged bribes through the financial system, raising questions about whether the banks were properly implementing and applying anti-money laundering rules, including customer due diligence on shell companies, and verifying the source of funds coming into the accounts. The corruption allegations, which have resulted in the resignation of FIFA President Sepp Blatter, demonstrate the need for stronger regulations and enforcement, the FACT (Financial Accountability and Corporate Transparency) Coalition said today.

Finally! Bankers Barred From Industry for Helping Tax Evasion Fed Bans Five at Credit Suisse from Working in Banking

May 13, 2015

The FACT (Financial Accountability and Corporate Transparency) Coalition today praised the announcement from the Federal Reserve that five bankers at Credit Suisse have been barred from working in the banking industry for their part in helping U.S. citizens evade income taxes.

Two Strikes and You’re Out? JCT and Paul Ryan Put the Repatriation Tax Holiday Behind in the Count

May 2, 2015

With two different and devastating announcements this week from the Joint Committee on Taxation and House Ways and Means Chairman Paul Ryan, the FACT (Financial Accountability and Corporate Transparency) Coalition believes the flawed proposal of a repatriation tax holiday has two huge strikes against it and is enough to declare it “Out!”

An End to Loopholes and Restoring Fairness: FACT Submits Comments to Senate Finance Working Groups on International Taxes

April 15, 2015

The FACT (Financial Accountability and Corporate Transparency) Coalition today submitted comments to the Senate Finance Committee¹s Business Income Tax and International Tax Working Groups calling for a number of substantive changes in the tax code to restore fairness and to close loopholes that allow U.S. multinational corporations to avoid taxes.

FACT Lauds Passage in UK of Transparency Law

March 27, 2015

The FACT (Financial Accountability and Corporate Transparency) Coalition today praised the passage of legislation in the United Kingdom to crack down on the use of anonymous shell companies with the creation of a public registry of corporate ownership. The new law brings increased pressure on the United States to follow suit.

FACT Praises Creation of Levin Center at Wayne State Law School: Center Will Train Future Leaders on Rigors of Oversight

March 16, 2015

The Financial Accountability and Corporate Transparency (FACT) Coalition today praised the news that former Senator Carl Levin’s (D-MI) work on tax avoidance, transparency, and other issues will continue with the formation of the Levin Center at the Wayne State University Law School.