Maine Attorney General Aaron Frey has joined a multi-state lawsuit claiming the Trump Administration is dismantling a corporate anti-corruption law.

The 2021 Corporate Transparency Act was meant to boost enforcement of crimes for money laundering, tax fraud and other financial crimes.

The lawsuit claims the administration has exempted almost all businesses from reporting requirements.

More than 20 AGs, including Frey, are asking a federal court to declare the broad exemptions unlawful and restore full enforcement of the reporting rules.

“It is inexplicable that the Trump Administration wants to change the rules to make it harder to catch and prosecute white collar crime,” said Attorney General Frey. “The bipartisan law the Administration is trying to dismantle is an effective mechanism for law enforcement to uncover illegal financial schemes and hold wrongdoers accountable. The American people deserve a system where people and corporations are accountable to the law.”