May 06,2016

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Wyden Encouraged by Treasury Action to Improve Financial Transparency

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released the following statement expressing encouragement by the Department of Treasury’s actions to improve financial transparency and combat terrorist financing, corruption and tax evasion.

“Treasury’s actions mark another step in improving financial transparency in the United States and stamping out tax avoidance schemes using anonymous shell companies,” Wyden said. “While today’s beneficial ownership registry proposal addresses some of the concerns I raised in my letter to Secretary Lew earlier this year, there is still much work to do to end abuses like these and bring our transparency standards in line with peer nations.”