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Mar 2, 2022 Aditi Ramaswami

MIDDAY POSTER: Corporate Lawyers Fight Anti-Money Laundering Efforts

The American Bar Association’s business law members are nervous about the feds’ push for greater corporate transparency.
MIDDAY POSTER: Corporate Lawyers Fight Anti-Money Laundering Efforts
(AP Photo/Patrick Semansky)

Last month, nearly 40,000 corporate lawyers representing the American Bar Association’s (ABA) Business Law Section wrote a comment to the U.S. Treasury Department, expressing their concerns about the department’s proposal to implement the Corporate Transparency Act — a measure designed “to help prevent and combat money laundering, terrorist financing, tax fraud, and other illicit activity.”

The organization’s comment letter represents the latest action in its lengthy campaign to kill anti-money laundering rules — some of which could directly impact its members.

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