News & Analysis as of

Small Business Financial Crimes

Ballard Spahr LLP

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

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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

Eversheds Sutherland (US) LLP

The Corporate Transparency Act is unconstitutional - For some, and for now

On March 1, 2024, the United States District Court for the Northern District of Alabama found that the Corporate Transparency Act (CTA) is unconstitutional because it exceeds Congress’ legislative power. The 53-page opinion...more

Venable LLP

Alabama Federal District Court Declares CTA Unconstitutional: Here's What You Need to Know

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The Corporate Transparency Act (CTA), which became effective on January 1, 2024, was enacted to combat the use of shell companies by those seeking to evade anti-money laundering laws and economic sanctions. ...more

Holland & Knight LLP

Federal District Court Finds Corporate Transparency Act Unconstitutional

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The National Small Business Association (NSBA) and a small business owner (also a member of the NSBA) filed a lawsuit on Nov. 15, 2022, in the U.S. District Court for the Northern District of Alabama challenging the...more

Locke Lord LLP

New York LLC Transparency Act

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On December 21, 2024, amendments to the New York Limited Liability Company Law will take effect requiring domestic New York LLCs and foreign LLCs qualified to do business in New York to disclose information concerning their...more

Dunlap Bennett & Ludwig PLLC

How To Comply With The Corporate Transparency Act

As we discussed in parts one and two of this blog series, there’s a new compliance requirement for many small businesses: the Corporate Transparency Act. This law was designed to disrupt criminal activities such as money...more

PilieroMazza PLLC

The Corporate Transparency Act: Updates, Requirements, and Enforcement for Small Businesses

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The Corporate Transparency Act (CTA) has been a hot topic for small business owners since its inception. As we approach its effective date on January 1, 2024, it’s crucial to understand CTA’s implications for small...more

Hendershot Cowart P.C.

Small Business Owners: New Federal Reporting Requirements Start January 1

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Beginning January 1, 2024, most small businesses in the United States will have to report information about the people who own and control the business to the federal government. This new reporting rule was established by...more

Foodman CPAs & Advisors

Guía FinCEN BOI Para Pequeñas Empresas

El 18 de septiembre del 2023, se publicó la Guía FinCEN BOI para Pequeñas Empresas para asistir a la comunidad de pequeñas empresas a cumplir con la Regla de Presentación de Reportes de información sobre beneficiarios reales...more

Foodman CPAs & Advisors

FinCEN BOI Small Business Guide

On September 18, 2023, the FinCEN BOI Small Business Guide was released to assist the small business community in complying with the beneficial ownership information (BOI) reporting rule that starts January 1, 2024. The...more

Bass, Berry & Sims PLC

The Corporate Transparency Act: A Primer for “Small” Businesses

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The Corporate Transparency Act (CTA), which aims to curb illicit financial activities like money laundering and other fraudulent activities, will go into effect on January 1, 2024. Consequentially, many types of businesses,...more

Levenfeld Pearlstein, LLC

What Trustees Need to Know About the Corporate Transparency Act – Sooner Rather Than Later

January 1, 2024 is quickly approaching and it will be a milestone for small businesses and their owners. Why? Because it is the effective date of the Corporate Transparency Act (the “Act”) – historic legislation that requires...more

Keating Muething & Klekamp PLL

Estate Planning Update: Preparing for the Corporate Transparency Act

Effective January 1, 2024, a sweeping anti-financial crimes law – the Corporate Transparency Act – will affect every small business. If you own an interest in a small business, even a single-member LLC, you may be subject to...more

Lowenstein Sandler LLP

Bipartisan Bill Seeks to Delay FinCEN’s Beneficial Ownership Reporting Requirements

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On August 1, a bipartisan bill was introduced to modify the Corporate Transparency Act (CTA). The Protect Small Businesses and Prevent Illicit Financial Activity Act (H.R. 5119) was introduced in the U.S. House of...more

Ballard Spahr LLP

Small Business Interest Group Challenges CTA’s Constitutionality

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In our last post discussing the new regulations issued under the Corporate Transparency Act (“CTA”), we suggested that “time will tell whether industry groups will launch lawsuits challenging the Final Rule.” That time has...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, June 24, 2022

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Major Developments- Federal Reserve Board- Federal Reserve Board releases results of annual bank stress test- June 23, 2022- The Federal Reserve Board released the results of its annual bank stress test....more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, May 20, 2022

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The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing on the following nominations: The Honorable Michael S. Barr, of Michigan, to be a Member and Vice Chairman for Supervision of the Board of...more

K2 Integrity

PPP Lending—A Unique Compliance Challenge for Banks

K2 Integrity on

A commitment to PPP compliance now will not only align with regulator expectations, but can help guide innovation and the introduction of new products in the long run. ...more

Robins Kaplan LLP

Financial Daily Dose 6.15.2020 | Top Story: Reopening-Related COVID Surge Pauses Recent Market Rally

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Rising infection rates around the U.S. and the globe are worrying markets, as fear of a second wave of cases linked with the reopening of the economy freaks out traders....more

Robins Kaplan LLP

Financial Daily Dose 4.21.2020 | Top Story: Oil Prices Dip to Negative as Global Demand Dries Up During Pandemic

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Monday saw U.S. oil prices take an unprecedented plunge into negative territory, as “concerns grew that storage tanks in the United States were near capacity and unable to hold all the unused code” (with the “bizarre movement...more

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