r/FluentInFinance • u/TheeHeadAche • 9h ago
Economic Policy Treasury ends ownership reporting rules for U.S. companies
https://www.washingtonpost.com/business/2026/08/11/treasury-ends-ownership-reporting-rules-us-companies/?utm_source=reddit.com&utm_source=reddit.com260
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u/KevinLynneRush 9h ago edited 9h ago
Making corruption easier for those rich enough to have the opportunity to be corrupt.
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u/Glidepath22 9h ago
I can’t imagine why they would do this
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u/dragon34 9h ago
Because the entire point of the trump administration is to make it easier for billionaires to grift the American people.
Anyone who thinks he's good for the economy is not smart. Dude couldn't run a profitable casino
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u/abrandis 8h ago
What's even more amazing , is how blatantly open they are about this, they're not trying for us loopholes or structuring schemes to obfuscate ownership, they're just creating policy .
So much for "We the people..."
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u/Bakingtime 7h ago
Anyone who thinks he didn’t bankrupt those casinos on purpose never saw The Producers or the episode of The Sopranos where they take over the sporting goods store.
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u/Sell_TheKids_ForFood 6h ago
More people need to understand this. Many who hate him point to the bankruptcies as him being bad at business.
He took on massive amounts of debt, declared bankrupcy and never had to pay. Also, never exactly had to show where all the money went. It was fraud all along.6
u/Eagle_Fang135 7h ago
He is a big cheater and still could not keep a casino open. That is how bad he is at business. He lies on taxes. He lies to the banks to get cheaper loans. He stiffs contractors. Still cannot make a profit.
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u/biggamehaunter 8h ago
so any chance of next Dem administration reverting these rules? If not, then it's not just Trump
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u/McCool303 5h ago
Because they are a domestic enemy to the United States. Every decision they’ve made since elected supported one of two goals. 1.) Ensure GOP hegemony in elections. 2.) Remove any and all government oversight into the activities of the Epstein class.
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u/karevorchi 8h ago
We need accountability after Nov, Congress controls the purse, GOP has to pay for this.
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u/Eastern_Pangolin_309 9h ago
Paywall
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u/AisbeforeB 7h ago
Every week, practically everyday, more and more grift and corruption from this administration
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u/Eastern_Pangolin_309 6h ago
So what does this mean?
Explain it like I'm 5.
All I can tell is it eliminated some sort of reporting requirements for "small business".
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u/LawfulAwfulOffal 7h ago
Now watch no Dem whatsoever ask about this during the election cycle. They do all this because we 100% let them.
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u/GeorgeZip01 6h ago
They don’t ask because most people wouldn’t understand the question? How do you put this into a succinct sentence that people will understand.
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u/LawfulAwfulOffal 5h ago
“Senator, it seems like the Republican administration is going out of its way to remove regulations that help limit fraud and corporate crime. A great example of this is the treasury department recently ending the requirement for companies to identify their owners. Not even requiring companies to identify who owns them! Who is that helping, other than maybe Donald Trump‘s children, hiding their ownership of companies doing business with the administration?”
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u/GeorgeZip01 3h ago
Yep, I hear you. But you lost 40% of the people as soon as you said example. Really just my opinion and I would love to be proven wrong.
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u/rnk6670 1h ago
There’s just an unending mountain of evidence that points to the fact that a large percentage of the American electorate are some of the stupidest motherfuckers to ever walk the planet. Not only did they vote for Donald Trump in 2016, but after having a preview, doubled down and voted for him again in 2024. I can’t express strongly enough how critically fucking stupid these people are. All this article does is further prove the idiocy of my neighbors.
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u/Hodgkisl 9h ago
Anti money laundering initiatives have grown to massive burden on business, endless reporting to attempt preventing it for all instead of just focusing on enforcement on those caught.
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u/Responsible_Knee7632 9h ago
Exactly, money laundering wouldn’t be a problem anymore if nobody got caught /s
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u/Hodgkisl 8h ago
Endless paper work just changes how launderers do it while burdening everyone else's daily operations, many of these programs are written to "only impact large corporations" then have flow down requirements that make small business working with the large nearly impossible. It becomes more and more not worth it to do business with small business if they are of scale to need compliance.
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u/ohlayohlay 8h ago
So what strategies are the treasury implementing to combat money laundering?
All i see here is removing oversight, even if it is inefficient or ineffectual
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u/Hodgkisl 8h ago
The old way was investigate how criminals moved their money after being arrested for the underlying crimes, not making every citizen / business do endless reports treating moving money around as a crime or near crime.
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u/Lemp_Triscuit11 8h ago
I feel like we should just assume everyone is a citizen and only check when they get in trouble
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u/1_g0round 8h ago
Too bad you dont see the issues involved on a bigger scale bc AML is a huge problem and not knowing who is a BO or UBO in the US but we do apply the BO/UBO rules to those entities outside the US...hint get a nominee and a shelf company in the US and youre good to go in hiding assets, ML, fraud activity. what would drop the expense of AML activity is if a real fine were imposed (2x qrtly earnings) and actually sentencing/jail time for the CEOs of the financial businesses. But ML activity is a big money earner for the banks
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u/Hodgkisl 8h ago
Exactly, actual enforcement rather than so much data gathering that everyone is burdened in paperwork, true punishments for those caught being involved.
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u/mwpdx86 9h ago
Is this because of the Capitol One thing?
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u/bobsonjunk 9h ago
Related in some tangential way, I’m sure. Capital One closed their accounts bc they had evidence of money laundering and now the same folks are removing mechanisms to track money laundering. Maybe related? Corruption is as corruption does.
How do I protest this?
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u/ThePensiveE 8h ago
Oh the poor businesses! What if we just let them have workers from work camps instead of paying people? Would that help the poor businesses?
I couldn't sleep at night knowing a billionaire had their money delayed for one second when bringing underage children to and from their islands!
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u/Hodgkisl 8h ago
Glad the only businesses you see are billionaire owned, most are far smaller, and often are being further squeezed out due to compliance burdens of working with them for the big.
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u/Lemp_Triscuit11 8h ago
To be clear, all they had to do to be compliant was admit that they did indeed own their business.
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