Setting the Record Straight
This week the Treasury Department took the important step of finalizing its Corporate Transparency Act rules. While the move was cheered by the broader Main Street business community, a small contingent on social media has ...
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Backdoor BOI
Yesterday’s final rule eliminating BOI reporting requirements for US persons or entities is a big win, but the fight over the Corporate Transparency Act is far from settled. Congress is considering legislation that would provide ...
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Big Win on CTA!
Good news for the lazy days of summer! The Trump Treasury Department has finalized its revised beneficial ownership information (BOI) reporting rule and committed to permanently deleting the sensitive personal data prematurely collected from millions ...
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CTA Catch-22
Yesterday, the House Rules Committee declined to make in order an amendment to the National Defense Authorization Act (NDAA) that would have protected Main Street businesses from the CTA's burdensome beneficial ownership reporting requirements. The ...
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Main Street Supports SCOTUS Review of CTA
More than 90 trade associations sent a letter today urging the federal government to support Supreme Court review of the Corporate Transparency Act. The letter calls on Treasury and DOJ to back the two pending ...
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Senate Joins CTA Relief Effort
More good news on the CTA front. Fresh on the heels of the House Financial Services Committee advancing CTA relief, the Senate has stepped up with legislation of its own. Senators John Kennedy (R-LA) and ...
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House Panel Moves CTA Relief
As we previewed recently, the House Financial Services Committee yesterday advanced legislation that would repeal the Corporate Transparency Act’s reporting requirements for over 30 million American businesses. The measure – as amended and approved by ...
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Full Court Press on CTA
Today’s piece by the Washington Post Editorial Board is a helpful reminder that while the Corporate Transparency Act has been knocked down in the past year, the fight continues. As the Post summarizes, the CTA ...
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Finish the Job on CTA
Earlier today, more than 100 trade associations urged Treasury to take immediate action to protect small business owners from unnecessary privacy and cybersecurity risks stemming from the Corporate Transparency Act (CTA). The letter was led ...
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CTA Setback
Breaking news from the Eleventh Circuit Court of Appeals. In a 3-0 decision issued this morning, a three-judge panel reversed our landmark district court ruling that the Corporate Transparency Act (CTA) was unconstitutional. Readers will ...
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Carol Roth Pushes CTA Database Purge
Carol Roth’s latest column in The Blaze makes a powerful case for finishing the job on the Corporate Transparency Act (CTA): both repealing the law outright and purging the massive database of sensitive ownership information ...
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House Hearing on CTA Regs, Database Purge
Earlier this week we covered the latest effort in Congress to make things right when it comes to the Corporate Transparency Act. That starts with deleting the beneficial owner database that’s not just unnecessary but ...
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Purging the CTA Database
Couple important developments to report on the Corporate Transparency Act front. First, around 90 members of Congress yesterday sent a letter to Treasury Secretary Scott Bessent urging that the CTA database be purged entirely. It ...
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The Assault on Privacy Continues
Treasury’s rollback of the wildly overbroad Corporate Transparency Act (CTA) reporting requirements was a major step in protecting the privacy of Main Street business owners, but it’s not the only threat out there. New mandatory ...
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Committee Reviews CTA’s Future
Earlier today a House Financial Services subcommittee held a hearing entitled, “Following the Money: Tools and Techniques to Combat Fraud.” The hearing covered many topics, but the conversation returned time and again to the awful ...
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Main Street Cheers CTA Relief
Treasury last week made good on its promise to deliver much-needed relief from the Corporate Transparency Act, a move that did not go unnoticed by the Main Street business community. In a letter sent earlier ...
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FinCEN Releases CTA Relief Rule
More good news on the battle over privacy. Treasury’s Financial Crimes Enforcement Network on Friday released the following statement: [T]he Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement ...
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Privacy Fight in Australia, Courts Continues
The actions by the new Administration last week to curtail reporting under the Corporate Transparency Act were a huge victory for millions of Main Street businesses, but they were by no means the final word ...
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