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A bipartisan group of lawmakers from both chambers of Congress demanded in a letter published Tuesday that the U.S. Financial Crimes Enforcement Network rework a proposed beneficial-ownership form they warn would fundamentally undermine the Corporate Transparency Act. Tens of millions of companies will begin using the form next year to submit the personal details of anyone who owns at least 25 percent of their shares or controls their day-to-day operations to FinCEN. The bureau will then list those details in a new, federally administered registry of beneficial-ownership information as required by the CTA, legislation Congress passed in 2021. But the...