Today, Florida Chief Financial Officer (CFO) Jimmy Patronis announced that in Congress he will pursue legislation to dismantle the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN)
Pursue legislation in Congress to dismantle the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN).
Occurrences
Evidence
Today, Florida Chief Financial Officer (CFO) Jimmy Patronis announced that in Congress he will pursue legislation to dismantle the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) ...
Bills and resolutions cosponsored ... Corporate Transparency Act: repeal (see H.R. 425), H2570 [9JN]
This bill repeals the Corporate Transparency Act. The act requires existing companies and newly created companies to report beneficial ownership information to the Department of the Treasury’s Financial Crimes Enforcement Network for purposes of addressing the financing of terrorism and money laundering.
Learn more about legislation sponsored and co-sponsored by Congressman Patronis.
Assessments
Patronis promised to pursue congressional legislation to dismantle FinCEN. The available evidence shows he cosponsored H.R. 425, which would repeal the Corporate Transparency Act and eliminate a major FinCEN beneficial-ownership reporting regime, but it would not dismantle FinCEN itself and was not enacted. This is a related legislative effort, not fulfillment of the full promised outcome.