A bipartisan proposal that could subject most charity executives and senior managers in the country to similar disclosure and vetting requirements that apply to banks, including sending personal information to the Treasury Department, is gaining support on Capitol Hill.
The bill, titled the “Establishing New Authorities for Businesses Laundering and Enabling Risks to Security Act” (ENABLERS Act), was introduced last fall and folded into the House-passed National Defense Authorization Act that the Senate hopes to pass during the lame-duck session.
Supporters of the ENABLERS Act hope it will help combat money laundering, and Sen. Roger Wicker (R-Mo.), a leading voice on national security issues, recently signed on as a co-sponsor.
Many in the business community oppose the burdensome requirements the ENABLERS Act directs at individuals, and it’s unclear whether the language will remain in the must-pass defense policy bill. However, Sen. Wicker's support may muffle opposition that could come from Republicans skeptical of federal data-collection efforts.
