McHenry Raises Concerns with FinCEN's Proposal Regarding Access to Beneficial Ownership Information

Press Release

Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to the Financial Crimes Enforcement Network's (FinCEN) release of a Notice of Proposed Rulemaking regarding access to beneficial ownership information.

"Today's Notice of Proposed Rulemaking issued by FinCEN does not prioritize Americans' financial privacy in the way Congress intended," said Chairman-elect McHenry. "FinCEN must include the appropriate protections to prevent unauthorized access and use of the sensitive information collected under this new regime. Until we see a real effort to protect this confidential information, Republicans remain concerned about FinCEN's commitment to privacy and civil liberties. Protecting Americans' financial privacy will be a top priority of Committee Republicans' oversight and legislative initiatives next Congress."

Source