SACRAMENTO, Calif., Oct. 27 -- The California Attorney General issued the following press release:
OAKLAND - California Attorney General Rob Bonta today joined a coalition of 21 attorneys general in filing a lawsuit (https://oag.ca.gov/system/files/attachments/press-docs/1-fincen-rule-xxxx-complaint-1-102726.pdf) challenging rulemaking by the Treasury Department's Financial Crimes Enforcement Network (FinCEN) regarding the Corporate Transparency Act. FinCEN's recent rule permanently removes Beneficial Ownership Information (BOI) reporting requirements for U.S. companies and U.S. persons, a requirement intended to stop shell companies - often used to further illicit criminal activity, like money laundering or drug trafficking - from hiding ...