The U.S. House of Representatives passed a bill requiring U.S. corporations and limited liability companies to disclose beneficial ownership information.
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A bipartisan group of senators introduced a bill which would impose federal beneficial ownership reporting requirements for legal entities established under state law, intended to assist law enforcement in fighting money laundering and terrorist financing.
A bipartisan group of U.S. senators proposed the "ILLICIT CASH Act," which would establish federal reporting requirements to help federal and local law enforcement officials more easily access beneficial ownership information.
Congressmen Steve Pearce (R-NM) and Blaine Luetkemar (R-MO) introduced legislation that would increase reporting thresholds for financial institutions subject to the Bank Secrecy Act, and provide a temporary safe harbor for violations of the Customer Due Diligence rule.