Elizabeth Warren

Aug. 12 (UPI) — The U.S. Treasury Department has officially repealed a rule that required U.S. companies and individuals to report “beneficial ownership information” to the department.

The Financial Crimes Enforcement Network bureau of the Treasury Department — which is meant to safeguard the U.S. financial system from illegal activity, work against money laundering and terrorism financing and help with national security — issued a final rule Tuesday that permanently removes the requirement. The reporting rule existed in connection with the Corporate Transparency Act.

The network, called FinCEN, also announced that it would delete all previously reported information from its databases.

Treasury Secretary Scott Bessent called it “a victory for common sense” and said that it eliminates a “burdensome reporting requirement.” An interim final rule has been in place since March 2025.

This final rule also exempts U.S. citizens with FinCEN identification from having to update or correct their information and eliminates a requirement for foreign businesses to report U.S. citizens who helped them register to do business in the United States.

As defined by FinCEN, a beneficial owner is one who directly or indirectly owns at least 25% of a company or exercises substantial interest over the company.

Sen. Elizabeth Warren, D-Mass., issued a statement Tuesday saying the repeal guts the Corporate Transparency Act and is a “gift to cartels, criminals and U.S. adversaries that exploit shell companies to move millions through our financial system.”

“The Trump administration has dismissed law enforcement warnings, ignored the role that shell companies play in crimes ranging from drug trafficking to fraud to sanctions evasion and gutted a statue that Secretary Rubio once championed as ‘the most significant anti-corruption and money-laundering law in decades,” Warren said.

Secretary of State Marco Rubio posted that statement about the act on social media in December 2020.

Congress passed the Corporate Transparency Act in 2021. The reporting requirement went into effect in 2024.

July 11 (UPI) — A housing bill passed by Congress became law at midnight Saturday when President Donald Trump refused to sign it, but didn’t veto it.

The 21st Century ROAD to Housing Act is a comprehensive law that was designed to make housing more affordable and increase housing supply. Trump refused to sign it because he wanted Congress to pass the SAVE America Act, an election reform bill that would require those registering to vote to provide proof that they are U.S. citizens.

But Congress doesn’t have the votes to pass the SAVE Act.

On Friday, Trump announced that he again would not sign the ROAD to Housing bill.

“I will not sign the Housing Bill, which has been fully approved by Congress and sent to the White House, in PROTEST over the fact that the United States Senate is not capable of passing THE SAVE AMERICA ACT,” he said on Truth Social.

The housing bill includes measures that modernize building standards, encourage renovating older homes, encourage communities to build more housing with funding and grant programs, local governments to reform restrictive zoning policies around building housing and effectively ban private equity from buying up single-family homes. Critics of the bill say it doesn’t go far enough, but they acknowledge it’s a good first step.

“This bill becoming law is a genuine milestone — and I don’t use that word lightly,” Dennis Shea of the Bipartisan Policy Center told the BBC. “Getting Congress to move on housing supply and affordability has been a long time coming, and the American people made clear they were ready for it.”

Earlier this year, a BPC survey found that 89% of voters wanted congressional action to make housing more affordable.

Congressional leaders had planned a bill signing ceremony last month, ready to show voters that they are trying to bring down costs, a key issue to Americans. But hours before it was scheduled to begin, Trump canceled it.

Sen. Elizabeth Warren, D-Mass., criticized Trump’s ongoing refusal to sign Friday.

“At the stroke of midnight, a huge bipartisan bill to lower housing costs became law without the President’s signature. Why did President Trump sit on the landmark housing bill for more than 2 weeks? Maybe because there was nothing in it for him personally – no gold-encrusted ballroom, no Qatari jet, no $2 billion crypto deal. Nothing in the 21st Century ROAD to Housing except ways to make housing more affordable,” she said in a statement. “Donald Trump couldn’t pick up the pen because he just isn’t interested in lowering costs for American families.”

At 4 a.m. Saturday, she posted on X: “BREAKING: the clock struck midnight and our bipartisan housing bill is now law. Trump refused to sign it, but he couldn’t stop it.”

“This law is GROUNDBREAKING. It will build more housing, bring down costs, and for the first time, stop private equity from buying up homes,” she said.

Trump had called the housing bill “so unimportant” and “a yawn.”

Speaker of the House Mike Johnson, R-La., defended the bill without criticizing Trump’s comments.

He said, “the president has a lot going on, and I think it’s safe to say he’s not read through every line of that piece of legislation.

“What he was saying is in comparison to ensuring election integrity, which is now represented by the SAVE America Act, nothing is as important,” Johnson said. “That’s not to say that there are not also incredibly important issues, and the cost of living and affordability is among them. It’s top of mind.”

“So I hope he does sign it. If he doesn’t, it’s still law; we’ll still celebrate it,” Johnson said. “But he’s trying to make a point and I think he’s making it very effectively.”

July 8 (UPI) — Graham Platner dropped out of the Maine Senate race on Wednesday evening, two days after allegations arose that he sexually assaulted a woman in 2021.

In a video, Platner said that “we believe that for the movement to continue, it can’t be me — and for that reason we are suspending campaign operations.”

“It’s not the false allegations, though, that have brought us to where we are,” he said. “It’s the fact that they’re being used by the political establishment to put structural pressure on us. We live in a political system that is not built for normal people. It is a system built structurally to make sure movements like ours cannot flourish.”

The decision allows Democrats to choose a new candidate for the race against Republican Susan Collins, the five-term incumbent. Platner had until Monday to drop out; Democrats now have two weeks to pick a contender for the race.

On Monday, a woman who once dated Platner said he forced her to have sex with him about five years ago, Politico reported. Jenny Racicot said Platner was intoxicated when he entered her home one night in 2021 andassaulted her while she told him repeatedly to stop. Others have also made claims about Platner and abuse.

Platner has steadily denied the allegations, calling them “categorically untrue.”

Earlier Wednesday, the Maine Democratic Party approved a plan to hold a nominating convention if Platner suspended his campaign.

Valli Geiger, a Maine state representative, told WMTW-TV of Portland, Maine, that Platner called her and encouraged her to try to take his place on the ballot.

“He said, ‘Valli, you are a fighter; you have been with this movement since the beginning,’ ” Geiger said. She said she was “heartbroken” by the accusations against Platner but agreed that he needed to suspend his campaign. She also said he was encouraging others to put their names forward.

CNN reported that candidates to replace Platner include three Democrats who ran for governor: Nirav Shah, former director of the Maine Center for Disease Control; Secretary of State Shenna Bellows; and former state Sen. Troy Jackson.

Since the allegations broke, a rising tide of Democrats called on Platner to suspend his campaign, including former supporters Sens. Elizabeth Warren and Bernie Sanders. Many groups rescinded endorsements of the candidate.

Platner has also been involved in other controversies, including over a tattoo with Nazi connotations that he said he was unaware of.

June 22 (UPI) — The U.S. Senate on Monday passed a bipartisan bill aimed at lowering housing costs, sending it to the House of Representatives for a final vote.

The Senate voted 85-5 to pass the 21st Century ROAD to Housing Act. Several senators missed the vote because of severe thunderstorms that affected Ronald Reagan International Airport, NBC News reported.

A deal on the act was negotiated by a bipartisan group including Sen. Tim Scott, R-Ariz.; Sen. Elizabeth Warren, D-Mass.; Rep. French Hill, R-Ark., and Rep. Maxine Waters, D-Calif.

Scott and Warren both said before the vote that it showed that common ground is possible.

“Today’s vote proves that it is possible to find bipartisan, common ground on legislation that actually helps the American people,” Warren said on the Senate floor, The Hill reported. “And, importantly, it proves that bipartisan legislation doesn’t have to be the weakest, most milquetoast agreement that doesn’t offend anyone or do too much to help anyone either.”

The bill’s provisions include measures that encourage renovating older homes, encourage communities to build more housing through funding and grant programs, cut some red-tape issues around building housing and effectively ban private equity from buying up single-family homes. It restricts companies that already own more than 350 single-family homes from buying more.

The act had been stranded for a time after the Senate passed one version in March and the House of Representatives passed a different version in May. The final bill includes provisions sought by the House and drops a provision it objected to that would have required large investors that own or construct at least 350 single-family homes to sell them after seven years.

Those voting against it included Sen. Rick Scott, R-Fla., who told The Hill that housing is “a local issue.” Scott said he wanted to see Congress balance the budget and drive interest rates down.

If the House votes to approve the bill this week as expected, it will go to President Donald Trump, who is expected to sign it.