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Jubilee USA Network
Washington, DC
Building a global economy that serves, protects and promotes the participation of the most vulnerable.
Recent Activity
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By Natalia Kolbjornsen In an auditorium full of diverse individuals discussing Puerto Rico’s financial crisis, Miguel Soto Class expressed his enthusiasm that “this event shows how involved other people are, and we can’t imagine that it is all for nothing.”... Continue reading
Posted 1 hour ago at The Jubilee Blog
By Greg Williams Treasury's Financial Crimes Enforcement Network (FinCEN) renewed requirements for title insurance companies to identify the real owners behind shell companies in six major metropolitan areas. These “Geographic Targeting Orders” started in 2016 and preliminary reporting found that... Continue reading
Posted 5 days ago at The Jubilee Blog
By Greg Williams Congress has not acted on recommendations made by its Puerto Rico task force it implemented last year. The Congressional Task Force on Economic Growth in Puerto Rico was established by Congress last summer as a part of... Continue reading
Posted Feb 17, 2017 at The Jubilee Blog
By Greg Williams President Trump signed into law Congressional action to void requirements that the oil, gas and mining industries report financial activity in countries where they operate. The bipartisan 1504 "Cardin-Lugar amendment" to the 2010 Dodd-Frank Wall Street Reform... Continue reading
Posted Feb 14, 2017 at The Jubilee Blog
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By Annie Fort In October 2016, the Consumer Financial Protection Bureau (CFPB) outlined increased transparency measures for prepaid spending cards. The CFPB’s rule, nicknamed “Know Before You Owe,” stresses the importance of promoting clear and accessible customer information. On February... Continue reading
Posted Feb 13, 2017 at The Jubilee Blog
The US Senate voided a rule requiring greater financial transparency in the oil, gas and mining industries by a vote of 52-47. The "Cardin-Lugar amendment," Section 1504 of the 2010 Dodd-Frank Wall Street Reform Act, requires companies in these industries... Continue reading
Posted Feb 3, 2017 at The Jubilee Blog
By Greg Williams The US House of Representatives repealed a bipartisan transparency initiative that affects the oil, gas and mining sector by a vote of 235-187. The "Cardin-Lugar amendment" of the 2010 Dodd-Frank Wall Street Reform Act requires oil and... Continue reading
Posted Feb 1, 2017 at The Jubilee Blog
Puerto Rico's "control" board meets January 28 as the island's financial crisis deepens. In a January 18 letter, the Financial Oversight and Management Board for Puerto Rico noted that the island can likely only afford to pay approximately 20% of... Continue reading
Posted Jan 31, 2017 at The Jubilee Blog
By Greg Williams Within the next 24 hours, the US House of Representatives could repeal a bipartisan transparency initiative that affects the oil, gas and mining sector. The "Cardin-Lugar amendment" of the 2010 Dodd-Frank Wall Street Reform Act requires oil... Continue reading
Posted Jan 31, 2017 at The Jubilee Blog
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By Greg Williams Congress could repeal a bipartisan anti-corruption measure aimed at promoting transparency in the oil, gas and mining sector. The bipartisan "Cardin-Lugar amendment" to the 2010 Dodd-Frank Wall Street Reform Act requires oil and mining companies to publish... Continue reading
Posted Jan 30, 2017 at The Jubilee Blog
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by Greg Williams Haiti's debt approaches $2 billion dollars as it recovers from Hurricane Matthew and remembers the devastating earthquake that shattered the country seven years ago. After the 2010 earthquake, most of Haiti's debt was wiped out following a... Continue reading
Posted Jan 13, 2017 at The Jubilee Blog
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by Greg Williams Ecuador Foreign Minister Guillame Long will meet with civil society groups on Thursday to discuss tax avoidance, corruption and development. The event comes one day before Ecuador takes over the presidency of the G77 and China group... Continue reading
Posted Jan 12, 2017 at The Jubilee Blog
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By Greg Williams A US law passed to address Puerto Rico's debt crisis could apply retroactively to the US Virgin Islands, another heavily indebted US territory. The US Virgin Islands has higher debt-per-person levels than Puerto Rico and ratings agencies... Continue reading
Posted Dec 30, 2016 at The Jubilee Blog
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By Greg Williams The ratings agency Standard & Poor's downgraded the Bahamas' debt to 'junk' status. The agency cited weakened economic growth due to hurricanes and high debt levels. The downgrade makes borrowing more expensive for the Bahaman government. "Caribbean... Continue reading
Posted Dec 23, 2016 at The Jubilee Blog
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By Greg Williams Puerto Rico's "control" board sent a letter to current Governor Alejandro García Padilla and incoming Governor Ricardo Rossello stating areas for fiscal plan review and that debt restructuring talks are moving forward. TheFinancial Oversight and Management Board... Continue reading
Posted Dec 21, 2016 at The Jubilee Blog
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By Greg Williams The President can now impose economic sanctions on individuals involved in corruption or human rights abuses thanks to action by Congress. The so-called "Global Magnitzky Act" passed the Senate on December 8 as part of the National... Continue reading
Posted Dec 9, 2016 at The Jubilee Blog
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Representative Bachus speaking at the Capitol event by Greg Williams Jubilee USA honored House Financial Services Committee Chairman Emeritus Spencer Bachus (R-AL) at a November 10 evening event in the US Capitol. Bachus was a key architect of bipartisan legislation... Continue reading
Posted Nov 30, 2016 at The Jubilee Blog
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By Greg Williams The future of a federal consumer watchdog agency is uncertain amidst pledges to reduce the agency. Congress created the Consumer Financial Protection Bureau as part of the bipartisan 2010 Dodd-Frank Wall Street Reform Act. The Bureau issues... Continue reading
Posted Nov 25, 2016 at The Jubilee Blog
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By Greg Williams Puerto Rico Governor Alejandro García Padilla declined a new federal oversight board's request that he submit an updated fiscal plan for the island. Under Congressional legislation passed in June, the board has the authority to approve or... Continue reading
Posted Nov 22, 2016 at The Jubilee Blog
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By Greg Williams Jubilee Executive Director Eric LeCompte addressing the Financial Oversight and Management Board of Puerto Rico The Puerto Rico Financial Oversight and Management Board holds its third meeting at the El Conquistador Resort, Fajardo, Puerto Rico. This is... Continue reading
Posted Nov 19, 2016 at The Jubilee Blog
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By Darby Finch Four men were arrested in Indiana for allegedly using shell companies to defraud nursing home patients in the senior communities where they were executives. They overcharged for drugs and other goods and received the extra money through... Continue reading
Posted Oct 27, 2016 at The Jubilee Blog
By Greg Williams Our Campaigns Director, Andrew Hanauer, is quoted in a recent article on crime and corruption facilitated by some US-based anonymous "shell companies" and legislation that addresses the problem - the Incorporation Transparency and Law Enforcement Assistance Act.... Continue reading
Posted Oct 19, 2016 at The Jubilee Blog
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By Greg Williams Puerto Rico Governor Alejandro García Padilla submitted a fiscal plan to the new Puerto Rico Financial Oversight and Management Board when it met in New York October 14th. Congressional legislation passed in June created the board and... Continue reading
Posted Oct 14, 2016 at The Jubilee Blog
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By Greg Williams Jubilee USA participated in a variety of ways at last week's International Monetary Fund/World Bank Annual meetings. We met extensively with our international partners, sponsored and participated in panels on debt sustainability, new trends in sovereign debt... Continue reading
Posted Oct 12, 2016 at The Jubilee Blog
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By Greg Williams Friday, October 7th is the final day for the public to comment on new proposed federal regulations on "payday loans." Payday loans are short-term loans that carry an average annual interest rate of nearly 400% and are... Continue reading
Posted Oct 8, 2016 at The Jubilee Blog