- United States
- Calif.
- Letter
Reverse the CTA Rollback — Restore Shell Company Transparency
To: Rep. Gallagher
From: A constituent in Plumas Lake, CA
August 21
I'm urging you to push back on Treasury's rule permanently ending Corporate Transparency Act enforcement and deleting the beneficial ownership data already collected.
This isn't partisan — the CTA was written and championed by conservatives, including then-Senator Marco Rubio, who called it "the most significant anti-corruption and money laundering law in decades." It passed with broad bipartisan support and drew on input from the first Trump Administration to stop shell companies from hiding money laundering, drug trafficking, and terror financing.
Ending this registry removes a tool law enforcement relies on to fight cartels and fraud — the same threats this law was built to target. If compliance burden was the real concern, Treasury could have narrowed the rule instead of eliminating it and destroying the data outright.
I'm asking you to:
1. Call on Treasury/FinCEN to reverse this rule
2. Support oversight hearings on the decision
3. Back legislation codifying the registry so it can't be undone by rulemaking alone
Thank you for your attention. I look forward to your response.