by mia-joan | Apr 23, 2024 | Trent Lauridson
On August 1, 2023, sponsors introduced the “Protect Small Business and Prevent Illicit Financial Activity Act” (H.R. 5119), to the United States House of Representatives, which eventually passed the Act and referred it to the United States Senate on December 13, 2023....
by mia-joan | Apr 23, 2024 | Trent Lauridson
On December 29, 2023, plaintiffs filed suit in the United States District Court for the Northern District of Ohio seeking a nationwide stay of enforcement of the CTA, but the Court has not issued any dispositive orders. Gargasz Co. v. Yellen, No. 1:23-cv-02468 (N.D....
by mia-joan | Apr 23, 2024 | Trent Lauridson
On March 1, 2024, the United States District Court for the Northern District of Alabama concluded that the CTA exceeded Congress’s constitutional authority. The government defendants argued that the CTA was a constitutional exercise of Congress’s powers to...
by mia-joan | Mar 21, 2024 | Trent Lauridson
The Corporate Transparency Act (the “CTA”) is designed to combat illegal financial activity by identifying individuals who utilize complex corporate formalities to obscure their illegal purposes. When it becomes effective on January 1, 2024, it will impose new...
by mia-joan | Oct 11, 2023 | Trent Lauridson
By Trent Lauridson, Garfield & Hecht, P.C. Since being created as a part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau (“CFPB”) has been a wellspring for strong emotions. To many, the CFPB is seen as the...
