SCAM Debt Act

Financial Action Task Force Public Consultation Paper, Proposed Updates to Risk-Based Guidance to the Real Estate Sector-provisions requiring attorneys to submit suspicious transaction reports on their clients high-risk real estate transactions even when the information is protected by the attorney-client privilege. Department of the Treasury Financial Crimes Enforcement Network Advance Notice of Proposed Rulemaking on Anti-Money Laundering Regulations for Real Estate Transactions; Docket No. FINCEN-2021-0007; RIN 1506-AB54, 86 Fed. Reg. 69589 (December 8, 2021) Department of the Treasury Financial Crimes Enforcement Network Notice of Proposed Rulemaking on Beneficial Ownership Information Reporting Requirements; Docket No. FINCEN- 2021-0005; RIN 1506-AB49, 86 Fed. Reg. 69920 (December 8, 2021) H.R. 5525, ENABLERS Act-provisions subjecting certain attorneys to the suspicious transaction reporting, general anti-money laundering, due diligence, and account identification and verification requirements of the Bank Secrecy Act H.R. 1671, Securing Consumers Against Misrepresented (SCAM) Debt Act-provisions regulating attorneys engaged in litigation and other practice of law activities. H.R. 1786, S. 725, Stop Tax Haven Abuse Act-provisions subjecting attorneys that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act. Consumer Financial Protection Bureau Final Rule on Debt Collection Practices (Regulation F);Docket No. CFPB-2019-0022; RIN 3170-AA41, 85 Fed. Reg. 76734 (November 30, 2020)-provisions in original proposed rule creating a safe harbor for meaningful attorney involvement in debt collection litigation submissions. U.S. Government Accountability Office study mandated by Congress in P.L. 116-283, Title LXIV of National Defense Authorization Act, Anti-Money Laundering Act of 2020, on the problems of money-laundering and terrorist financing and the roles that various stakeholders, including lawyers and other gatekeepers, can play in combatting this illicit conduct. Financial Action Task Force White Paper for Public Consultation, Potential Amendments to Recommendation 24 (Transparency and Beneficial Ownership of Legal Persons)-provisions considering requiring lawyers to hold their company clients' beneficial ownership information and disclose it to government authorities Department of the Treasury Financial Crimes Enforcement Network Advance Notice of Proposed Rulemaking on Beneficial Ownership Information Reporting Requirements; Docket No. FINCEN-2021-0005; RIN 1506-AB49, 86 Fed. Reg. 17557 (April 5, 2021).

Client expense: $220,000 · Firm income: Not reported

Government targets: Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office

Department of the Treasury Financial Crimes Enforcement Network Advance Notice of Proposed Rulemaking on Anti-Money Laundering Regulations for Real Estate Transactions; Docket No. FINCEN-2021-0007; RIN 1506-AB54, 86 Fed. Reg. 69589 (December 8, 2021) Department of the Treasury Financial Crimes Enforcement Network Notice of Proposed Rulemaking on Beneficial Ownership Information Reporting Requirements; Docket No. FINCEN- 2021-0005; RIN 1506-AB49, 86 Fed. Reg. 69920 (December 8, 2021) H.R. 5525, ENABLERS Act-provisions subjecting certain attorneys to the suspicious transaction reporting, general anti-money laundering, due diligence, and account identification and verification requirements of the Bank Secrecy Act H.R. 1671, Securing Consumers Against Misrepresented (SCAM) Debt Act-provisions regulating attorneys engaged in litigation and other practice of law activities. H.R. 1786, S. 725, Stop Tax Haven Abuse Act-provisions subjecting attorneys that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act. Consumer Financial Protection Bureau Final Rule on Debt Collection Practices (Regulation F);Docket No. CFPB-2019-0022; RIN 3170-AA41, 85 Fed. Reg. 76734 (November 30, 2020)-provisions in original proposed rule creating a safe harbor for meaningful attorney involvement in debt collection litigation submissions. U.S. Government Accountability Office study mandated by Congress in P.L. 116-283, Title LXIV of National Defense Authorization Act, Anti-Money Laundering Act of 2020, on the problems of money-laundering and terrorist financing and the roles that various stakeholders, including lawyers and other gatekeepers, can play in combatting this illicit conduct. Financial Action Task Force White Paper for Public Consultation, Potential Amendments to Recommendation 24 (Transparency and Beneficial Ownership of Legal Persons)-provisions considering requiring lawyers to hold their company clients' beneficial ownership information and disclose it to government authorities Department of the Treasury Financial Crimes Enforcement Network Advance Notice of Proposed Rulemaking on Beneficial Ownership Information Reporting Requirements; Docket No. FINCEN-2021-0005; RIN 1506-AB49, 86 Fed. Reg. 17557 (April 5, 2021).

Client expense: $210,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Congressional Budget Office (CBO), Consumer Financial Protection Bureau (CFPB), Council on Environmental Quality (CEQ), Education, Dept of, Federal Trade Commission (FTC), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Justice, Dept of (DOJ), Natl Security Council (NSC), Office of Management & Budget (OMB), Patent & Trademark Office (PTO), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Agency for International Development (USAID), U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), White House Office

H.R. 1671, Securing Consumers Against Misrepresented (SCAM) Debt Act-provisions regulating attorneys engaged in litigation and other practice of law activities. H.R. 1786, S. 725, Stop Tax Haven Abuse Act-provisions subjecting attorneys that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act. Consumer Financial Protection Bureau Final Rule on Debt Collection Practices (Regulation F);Docket No. CFPB-2019-0022; RIN 3170-AA41, 85 Fed. Reg. 76734 (November 30, 2020)-provisions in original proposed rule creating a safe harbor for meaningful attorney involvement in debt collection litigation submissions. U.S. Government Accountability Office study mandated by Congress in P.L. 116-283, Title LXIV of National Defense Authorization Act, Anti-Money Laundering Act of 2020, on the problems of money-laundering and terrorist financing and the roles that various stakeholders, including lawyers and other gatekeepers, can play in combatting this illicit conduct. Financial Action Task Force White Paper for Public Consultation, Potential Amendments to Recommendation 24 (Transparency and Beneficial Ownership of Legal Persons)-provisions considering requiring lawyers to hold their company clients' beneficial ownership information and disclose it to government authorities Department of the Treasury Financial Crimes Enforcement Network Advance Notice of Proposed Rulemaking on Beneficial Ownership Information Reporting Requirements; Docket No. FINCEN-2021-0005; RIN 1506-AB49, 86 Fed. Reg. 17557 (April 5, 2021).

Client expense: $240,000 · Firm income: Not reported

Government targets: Alcohol & Tobacco Tax & Trade Bureau (TTB), Commerce, Dept of (DOC), Congressional Budget Office (CBO), Consumer Financial Protection Bureau (CFPB), Education, Dept of, Federal Trade Commission (FTC), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Justice, Dept of (DOJ), Natl Security Council (NSC), Office of Management & Budget (OMB), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Agency for International Development (USAID), U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), White House Office