Letter from the National Fraternal Order of the Police to the Senate Committee on Banking, Housing, and Urban Affairs Supporting Corporate Transparency
After 2 years of bipartisan negotiations, without warning or fanfare, the leadership of the U.S. House Financial Services Committee stripped beneficial ownership provisions out of a bipartisan anti-money laundering bill and planned a Committee vote.
A decision was made to drop beneficial ownership because it was thought to be controversial and a stripped down bill would “pass easily.” However, as FACT’s executive director describes in this op-ed in the American Banker, that was simply not the case.
36 former military and civilian national security leaders sent a letter to the House of Representatives’ Committee on Financial Services, urging members to end anonymous shell companies.
36 former military and civilian national security leaders sent a letter to the Senate Committee on Banking, Housing, and Urban Affairs urging members to end anonymous shell companies.
Fresh disclosures that President Donald Trump’s personal attorney Michael Cohen used a shell company to receive huge payments from a firm linked to a Russian oligarch as well as two multinational corporations have highlighted the United States’ position as a leading global enabler of corporate secrecy.
The FACT Coalition sent this memo to explain concerns with an IRS approach to collecting beneficial ownership information.
