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What is a SPAC and why was it just added to the dictionary?

Nov 2, 2021
Merriam Webster added 455 words to dictionary, including “blank check company.”
The spaceflight company Virgin Galactic is one of the many companies that's gone public through a SPAC. The number of SPACs has skyrocketed over the past decade.
Gene Blevins/AFP via Getty Images

Even banks support making U.S. shell companies less secretive

Nov 9, 2017
Banks hope that a crackdown on the secrecy behind U.S.-based shell companies will make their jobs easier.
Wells Fargo banks in Woodbury, Minn.

Cracking down on shell companies: a years-long debate

Apr 7, 2016
It sounds simple: require companies to say who own them. But some say shell companies can serve legitimate purposes.
Part of the Panama City skyline is seen as revelations about the law firm Mossack Fonseca & Co continue to play out around the world on April 7, 2016 in Panama City, Panama.
Joe Raedle/Getty Images