News & Analysis as of

Constitutional Challenges U.S. Treasury Congressional Authority

Ballard Spahr LLP

Treasury Asks the Eleventh Circuit to Uphold the CTA and Congressional Authority

Ballard Spahr LLP on

We previously blogged on the lawsuit filed by the National Small Business Association (“NSBA”) and one of its individual members, which sought to challenge the constitutionality of the Corporate Transparency Act (“CTA”). Most...more

Benesch

Just a Simple Misunderstanding? The Latest Argument from the United States Department of Treasury Concerning the Constitutionality...

Benesch on

As expected, shortly after receiving the Order from Judge Liles C. Burke of the District Court for the Northern District of Alabama that rendered unconstitutional the Corporate Transparency Act (the “CTA”), the United States...more

Cadwalader, Wickersham & Taft LLP

Court Finds Corporate Transparency Act Unconstitutional and Unenforceable as to NSBA Members

On March 1, 2024, the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (“CTA”) is unconstitutional. The CTA requires many U.S. entities to disclose their individual beneficial...more

Falcon Rappaport & Berkman LLP

Constitutional Clash: U.S. District Court Landmark Decision Declares the Corporate Transparency Act Unconstitutional

In 2021, Congress passed the Corporate Transparency Act (CTA), which will be administered and enforced by the Financial Crimes Enforcement Network (“FinCEN”) of the United States Treasury Department, in an effort to implement...more

Troutman Pepper

In Limited Ruling, CTA Held "Unconstitutional" by U.S. District Court

Troutman Pepper on

On March 1, the U.S. District Court of the Northern District of Alabama filed an opinion that rendered the Corporate Transparency Act (CTA) unconstitutional. Importantly, the court’s ruling only applies to the plaintiffs in...more

Whiteford

Client Alert: Corporate Transparency Act (CTA) Found Unconstitutional by Federal District Court

Whiteford on

On March 1, 2024, the U.S. District Court for the Northern District of Alabama in National Small Business United et al.  v. Janet Yellen et. al., Case No. 5:22-cv-1448-LCB,  held the Corporate Transparency Act (the “CTA”) to...more

Polsinelli

Challenge to Corporate Transparency Act Prevails – For Now

Polsinelli on

On March 1, 2024, a U.S. District Judge in Alabama issued a judgment holding that the Corporate Transparency Act (CTA) is unconstitutional because it exceeds the Constitution’s limits on Congress’ power. Further, FinCEN is...more

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