News & Analysis as of

Corporate Transparency Act Mortgage Lenders

Whitman Legal Solutions, LLC

Court Decision Doesn’t Affect Corporate Transparency Act Requirements for Most Companies and Real Estate Investors

On March 1, 2024 a United States District Court in Alabama held in National Small Business United dba National Small Business Association v. Yellen (NSBA Case) that the Corporate Transparency Act (CTA) is unconstitutional. ...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2024

The U.S. Department of Justice (DOJ) and state authorities have agreed to a consent order with a large national bank to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by affecting...more

K&L Gates LLP

The Corporate Transparency Act: Through a Real Estate Lens

K&L Gates LLP on

Implemented to combat the use of shell corporations and other entities to facilitate illicit activities, the Corporate Transparency Act (CTA) has prompted new and unprecedented reporting obligations. Starting 1 January 2024,...more

Ballard Spahr LLP

FinCEN Expands CTA FAQs

Ballard Spahr LLP on

On November 16, the Financial Crimes Enforcement Network (“FinCEN”) issued – again –expanded FAQs pertaining to beneficial ownership information (“BOI”) reportable under the Corporate Transparency Act (“CTA”).  These expanded...more

Harris Beach PLLC

Lenders: The Corporate Transparency Act is Headed Your Way in January 2024

Harris Beach PLLC on

The Corporate Transparency Act (CTA), which was passed by Congress in 2021 and is administered by the Financial Crimes Enforcement Network (FinCEN) at the U.S. Department of the Treasury, will become effective on January 1,...more

Whitman Legal Solutions, LLC

Special Purpose Entities Have Legitimate Uses in Real Estate Investment

Fraudulent violin sales make the news because they are uncommon. And while we read about special purpose entities (SPEs) – also called special purpose vehicles -- being used to commit fraud, most SPEs serve legitimate...more

Whitman Legal Solutions, LLC

Corporate Transparency Act–What Real Estate Sponsors and Investors Should Do Now to Prepare

Businesses facing a new law or regulation are like orchestra musicians. Most businesses will plan ahead so they can comply with new legal requirements on the law’s effective date. However, some laws are general and...more

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