Treasury Halts Anti-Money Laundering Enforcement: Outrage Erupts
The Treasury Department announced it will not enforce penalties under the Corporate Transparency Act against U.S. citizens or domestic companies, citing the burden on low-risk entities. This decision follows opposition from the Trump administration and ongoing legal challenges. The department plans to issue a rule narrowing the act’s scope to focus on foreign reporting companies. Proponents argue the act combats money laundering in the U.S., while opponents emphasize the regulatory burden.
John Q. Hosedrinker