Pearce Statement On The Corporate Transparency Act

U.S. Rep. Steve Pearce
WASHINGTON, D.C. U.S. Rep. Steve Pearce, Chairman of the House Financial Services Subcommittee on Terrorism and Illicit Finance, Thursday released the following statement after Representative Maloney (NY-12) introduced the Corporate Transparency Act:
“Too often, funding for national and international crime is facilitated through anonymous businesses and corporations. The United States must do more to cut off the ability of criminal enterprises to launder money through anonymous shell companies. The solution, however, cannot be to place the burden on the back of new businesses or the financial institutions that fund them. Today, Representative Maloney introduced legislation that takes a step in the right direction. I look forward to working with Representative Maloney, my colleagues in the House, and all industries interested in this topic, to create legislation that ensures business can continue to grow and thrive, while also ensuring law enforcement has the tools they need to combat terrorist and illicit financing.”