Defense Bill Includes Two Landmark Transparency Provisions
As 2021 began, Congress passed two landmark laws that will help improve the transparency of federal contractors and combat the use of anonymous shell companies for money laundering.
Just the FACTs: January 14, 2021
Anonymous shell companies in the US will soon be extinct. After more than a decade of debate, the House and Senate have both passed the Corporate Transparency Act as part of the recently enacted bipartisan, National Defense Authorization Act for Fiscal Year 2021 (NDAA, H.R. 6395).
NBC News: Congress passes a bipartisan bill that actually fights corruption. How did that happen?
With one small change in the law, the Corporate Transparency Act combats grand corruption, terror financing, human trafficking, weapons smuggling and fraud.
FACT Sheet: A Brief Summary of The Corporate Transparency Act (Title LXIV of the NDAA, H.R. 6395)
A Brief Summary of The Corporate Transparency Act of 2019.
With Veto-Proof Majority, Senate Sends Landmark Bill Ending Anonymous Companies to President’s Desk
By a veto-proof majority, the U.S. Senate passed historic legislation to end anonymous companies, capping a week that included both International Anti-Corruption Day and International Human Rights Day, sending the measure to the White House to be signed into law.
Stop Corruption: End Anonymous Companies
On the eve of International Anti-Corruption Day, the U.S. House of Representatives passed an historic measure to end anonymous companies by a veto-proof margin. The Corporate Transparency Act, included in the annual “must-pass” defense bill known as the National Defense Authorization Act, is expected to become law before the end of the year. As we mark International Anti-Corruption Day, this significant step forward for the U.S., which has historically lagged behind other nations–hopefully ushers in a new era of U.S. leadership on transparency and anti-corruption.