Pages tagged "Corporate Transparency"

Posted on Pray by · September 13, 2019 1:34 PM

Jubilee Weekend 2019

We need your faith community to pray with us and help us move Congress to shine a light on the abuses of anonymous shell companies. Some of the poorest places in the world continue to wrestle with high poverty rates, unsustainable debt levels and an inability to deal with extreme natural disasters driven by climate change. Mozambique, Puerto Rico, Somalia, the Bahamas and vulnerable communities around the world are suffering.

At Jubilee USA's core, we work on economic policies to ensure that resources get to the most vulnerable communities. It's why for years we've worked with our national faith partners on corporate transparency to make sure debt relief and aid are protected from corruption. We still have a lot of work to win strong transparency measures to stop shell companies from facilitating crimes like human trafficking, theft of development and debt relief aid, drug trafficking, the opioid crisis, terrorism and so much more. It's why we need your help pushing Congress to move this much-needed legislation.

Here are two ways to participate in Jubilee Weekend 2019:

1.) Sign-up your faith community to offer one prayer during your religious service the weekend of October 18th - 20th. Join Jewish, Christian, Muslim and other faith communities as we pray for transparency legislation to protect the vulnerable and those suffering from climate disasters. Another way to participate would be to set up a watch party for Eric LeCompte's address on these issues with your community. You can find links to those videos below. You can find sample prayers, petitions and service resources in our Jubilee Weekend 2019 packet here.

2.) Please have your faith community members send messages to Congress asking them to support the Corporate Transparency Act. You can

  • Send your Members of Congress emails through our website here 
  • Print our petition here and send it to us at Jubilee so we can deliver the signatures to Congress
  • Print and send our postcard to us to be delivered to Congress here
  • or contact kate@jubileeusa.org for help writing a letter of endorsement for the Corporate Transparency Act from your faith community. 

You can participate in one or all of these actions and you are welcome to take action multiple times. 

In late September, Eric LeCompte addressed the United Nations on these pressing issues. Eric lifts up debt relief to mitigate extreme weather events, responsible lending and borrowing, budget transparency, a global super bankruptcy process, anonymous shell corporations and tax havens, the Corporate Transparency Act, a global tax body, funding the Sustainable Development Goals and stopping the terrifying reality that 22,000 kids die every day because of poverty.

Read Eric’s entire remarks here, or watch his first opening UN General Assembly speech here or his concluding remarks to the morning UN General Assembly here. Watch the entire 3 hour UN General Assembly event here, to see world leaders, Presidents, Prime Ministers, Bill Gates, Eric and UN General Secretary Antonio Guterres discuss our Jubilee issues and efforts.

If you have any questions, contact Jubilee USA Network by email at kate@jubileeusa.org or by phone at (202) 783-3566 x105 or (503) 936-7553.

Resources

 

You can see the list of congregations participating in Jubilee Weekend 2019 here. 

House Hearing Reviews Financial Transparency Legislation

Posted on Press by · March 13, 2019 1:14 PM

Washington DC - The House of Representatives is holding hearings on legislative initiatives to deter corruption and secrecy in the global financial system. The Financial Services Subcommittee on National Security, International Development and Monetary Policy convenes a March 13th hearing on "Promoting Corporate Transparency: Examining Legislative Proposals to Detect and Deter Financial Crime."

The Congressional Hearing explores the role that shell corporations play in hiding the true owner or actual person who benefits from a business.

"Some anonymous shell companies facilitate the theft of development aid and debt relief, the exploitation of vulnerable communities and the support of corrupt regimes in the developing world," wrote Jubilee USA Director Eric LeCompte in a letter to Congress ahead of the hearing. The letter from the head of the religious development group continues, "Shell companies contribute to an estimated one trillion dollars leaving the developing world annually through tax evasion and corruption. In the United States, anonymous shell companies contribute to Medicare fraud, thefts from vulnerable communities and human trafficking."

The House Committee is reviewing a discussion draft of the "Corporate Transparency Act of 2019," which makes the real identity of the owner of a shell company available to law enforcement and financial institutions.

Additional legislative solutions are under review during the House Hearing. The hearing docket examines draft legislation on hidden illegal monies and a Bill introduced in January to expose foreign corruption, the "Kleptocracy Asset Recovery Rewards Act."

"In the US and around the world, poor people are too often exploited by financial secrecy," stated LeCompte. "Action by Congress can increase global transparency and provide resources for development."

Read Jubilee USA's full letter to Congress on the hearing, “Promoting Corporate Transparency: Examining Legislative Proposals to Detect and Deter Financial Crime"

Visit the House Financial Services Committee to watch and review information on the hearing

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Oct 15, 2019

IMF Reports Dismal, "Uncertain" Economic Outlook

Washington DC - The International Monetary Fund downgrades global economic forecasts, calling the future of the economy, "precarious" and "uncertain,"...
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