Grassley, Whitehouse blast Treasury decision on FinCEN

Summary

Sens. Chuck Grassley (R-Iowa) and Sheldon Whitehouse (D-R.I.) issued a statement Thursday blasting the Treasury Department’s decision to exempt 99 percent of entities from their previous requirement to report beneficial ownership to the department’s Financial Crimes Enforcement Network (FinCEN). The senators issued a joint statement warning the final rule, which was published on Tuesday, undermines…