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Latin Times
Latin Times
Politics

Treasury Ends Beneficial Ownership Reporting for U.S. Companies, Senator Warren Warns of Risks to National Security

Scott Bessent United States National Security Elizabeth Warren FinCEN G7
US President Donald Trump (R) gestures as he addresses the media alongside US Secretary of State Marco Rubio (L) and US Secretary of Treasury Scott Bessent (C) during a closing press conference at the G7 summit, in Evian, eastern France, on June 17, 2026. A G7 summit is set to take place June 15 to 17 in the French town of Evian-les-Bains near Switzerland and it will be attended by country leaders as well as the EU's foreign policy chief and ministers from Brazil, Canada, the United Arab Emirates and Turkey. (Credit: Photo by Mandel NGAN / AFP via Getty Images)

The Treasury Department has permanently eliminated a requirement for U.S. companies and individuals to report beneficial ownership information to the Financial Crimes Enforcement Network, or FinCEN, reversing a transparency rule created under the Corporate Transparency Act.

Scott Bessent, United States
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