Expert: Treasury’s move to ‘narrow’ BOI requirements would gut AML law
By 
Aaron Nicodemus2025-03-18T16:56:00
The U.S. Treasury’s effort to dramatically narrow the focus of the Corporate Transparency Act (CTA) through “emergency” rulemaking would gut the law’s anti-money laundering (AML) efforts, a transparency expert said.
In a March 11 letter to U.S. Sens. Sheldon Whitehouse (D-R.I.) and Chuck Grassley (R-Iowa), a Treasury official said the agency would “narrow the scope of the rule” to exclude American businesses.
“Treasury takes this step in the interest of supporting hard-working American taxpayers and small businesses and ensuring that the rule is appropriately tailored to advance the public interest,” wrote Jonathan Blum, principal deputy assistant secretary in the Treasury’s Office of Legislative Affairs.
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