From Fortune:

Treasury Secretary Janet Yellen announced that 100,000 businesses joined a database collecting “beneficial ownership” info on firms. Requiring most U.S. firms to report identifying information, these new rules aim to increase transparency and corporate compliance. The National Small Business Association claims these new reporting rules violate the U.S. Constitution, but a judge is expected to decide on the matter soon. Yellen reports that Treasury is considering more steps to address risks associated with commercial real estate and what illicit actors have laundered at least $2.3 billion through it. She assures that corporate transparency can bring financial benefits, protect our financial system, and increase tax revenue.



Read more: Janet Yellen takes on shell companies with new Treasury database of 100,000 companies