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Could Criminals Exploit This Loophole? Bessent Faces Intense Hearing Scrutiny.

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2,623 views77likes58CONGRESSWATCH-e7xOriginal Release: 2026-06-08

During a congressional hearing on the Corporate Transparency Act, Treasury Secretary Scott Bessent faced intense questioning from Representative Joyce Beatty about scaling back beneficial ownership reporting requirements, with Beatty challenging how the administration could combat transnational crime while reducing enforcement of transparency measures designed to uncover anonymous shell companies used for money laundering and hiding illicit funds.

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