From: Reuters
In 2011, amid a crackdown on international money laundering, the U.S. Treasury Department tried to close a loophole that authorities said allows drug cartels to move bulk cash across borders on gift and other prepaid cards.
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Meetings between OMB and parties with a stake in proposed regulations are common, and it often takes years for an agency to complete the review of proposed regulations. But it is unusual for agencies to withdraw rules once they are proposed. Over the past decade, less than 6 percent of draft regulations were withdrawn by the agency that proposed them, according to OMB statistics.