Trump Administration Ends Anti-Corruption Rule Requiring Shell Companies to Report Ownership
truthout.org
The law establishing the disclosure requirements was originally introduced by Marco Rubio in the Senate.

cross-posted from: https://news.abolish.capital/post/71226

The Trump administration has finalized a rule that will allow shell companies and other questionable entities to conceal their ownership from federal investigators, in a move that critics say will only further facilitate corruption in the U.S. The Treasury Department’s Financial Crimes Enforcement Network announced on Tuesday that it is ending the regulation that requires companies to…

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  • ayyy@sh.itjust.works
    9·
    2 days ago

    Because the Senate has been controlled by corrupt Republicans for an entire human generation, which means no laws governing finance have actually passed in ages. As a result all governing has had to be done through executive order because it’s literally the only way to get things done.

    It’s a terrible and unstable way to govern a country, because when the next guy comes in he gets to just say “nah I’m not gonna do that”. See also: the FCC rule requiring your bills to have an actual breakdown of the costs and fees that Trump just threw away.