The FACT Coalition joined 53 additional organizations to send a letter to Congress supporting the No Tax Breaks for Outsourcing Act – S. 2459, which would eliminate the deep discount that multinational companies get for shifting profits offshore and outsourcing jobs.
Quotes from prominent national security experts explaining the problems with anonymous shell companies.
The FACT Coalition sent this memo to explain concerns with an IRS approach to collecting beneficial ownership information.
The FACT Coalition sent a letter to the Financial Accounting Standards Board (FASB) to urge them to require companies to provide a complete picture of their offshore operations by requiring full disclosure of key financial, tax, and operational data on a country-by-country basis. The full letter can be read below or downloaded here.
The FACT Coalition sent a letter on April 30, 2018 to the U.S. Treasury Department opposing the creation of a national security exception for CbC Reporting Requirements. The full letter can be read below or downloaded here.
Chairmen Leutkemeyer and Pearce, Ranking Members Clay and Perimutter and members of the subcommittee, I am honored to have this opportunity to present testimony today regarding FinCEN’s Customer Due Diligence Rule. I am Dalia F. Martinez, Executive Vice President and Corporate Bank Secrecy Act Officer for International Bank of Commerce. IBC Bank–Laredo is a member of International Bancshares Corporation (NASDAQ: IBOC), a $12.2 billion multi-bank financial holding company headquartered in Laredo, Texas, with 192 branches and more than 294 ATMs serving 90 communities in Texas and Oklahoma. I am speaking to you today representing the Mid-size Bank Coalition of America, the voice of 88 community banks with headquarters in 34 States. MBCA banks are primarily between $10 billion and $50 billion in assets with more than 10,000 branches in all 50 states, with deposits of $1.2 trillion. MBCA banks represent, service, and support millions of customers.
