January 4, 2021
Senate votes 81-13 to override President's veto of defense authorization bill carrying money-laundering provisions
By a vote of 81-13, the Senate on January 1 voted to override President Trump's veto of HR 6395, the conference report for the fiscal 2021 National Defense Authorization Act (NDAA), with a two-thirds supermajority needed to override. The NDAA bill includes language establishing a regime requiring smaller businesses to disclose their beneficial owners to the Treasury Department's Financial Crimes Enforcement Network (FinCEN), as well as an overhaul of anti-money laundering (AML) laws for financial institutions.
The attached Alert from Washington Council Ernst & Young has details.
Full text of the Alert