U.S. House votes to advance bill curbing anonymous shell companies

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U.S. House votes to advance bill curbing anonymous shell companies
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The U.S. House voted on Tuesday to advance legislation that would require most c...

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A bird flies across the U.S. Capitol rotunda, on Capitol Hill in Washington, U.S., October 22, 2019. REUTERS/Tom Brenner

The bill was approved by lawmakers by a vote of 249 to 173, and was backed mostly by Democrats. The measure now heads to the Senate, where similar legislation is already being considered. The issue has been of increasing concern to policymakers in recent years, with the World Bank saying in 2011 that the United States produces nearly 10 times as many legal entities per year as 41 tax havens combined.

House passage of the bill also marks a significant win for banks, which have lobbied for years for Washington to update its money-laundering rules to reduce the workload for financial institutions. The bill would allow greater information sharing between law enforcement and regulators, as well as the use of new technology in monitoring suspicious activity.

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The US house did something ? Shocked 😳

...this just makes it appear Democrats are addressing this issue but it will go no where

Meryl Streep “Laundromat”

Ya think they moved their money first. Read all of it to dig out stuffed in deeply bennies to themselves.

Shelf shell companies

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