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Appeals Reporting Requirements Stays

Ballard Spahr LLP

CFPB won’t make small business reporting rule a priority

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The CFPB has announced it will not make enforcement of its rule requiring financial institutions to report their lending to women-owned, LGBTQI+-owned and minority-owned small businesses a priority....more

Ballard Spahr LLP

CFPB to Reopen Rulemaking on the Section 1071 Small Business Loan Data Collection and Reporting Rule

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As we have reported previously, including here, here, and here, the CFPB’s section 1071 small business loan data collection and reporting rule is facing court challenges.  The U.S. Court of Appeals for the Fifth Circuit has...more

Venable LLP

Fifth Circuit Places Partial Stay on CFPB Small Business Lending Rule Amid Leadership Change

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The Fifth Circuit Court of Appeals heard arguments in early February challenging the validity of the Consumer Financial Protection Bureau's (CFPB Small Business Lending Rule. The rule is being challenged by various industry...more

Parker Poe Adams & Bernstein LLP

Corporate Transparency Act Reporting Requirements Are Back: New March 21 Deadline

In the latest twist involving the Corporate Transparency Act (CTA), the only nationwide injunction still in effect that barred enforcement of the CTA’s filing deadlines (Smith vs. U.S. Department of the Treasury) was stayed...more

BakerHostetler

CTA Back in Effect; New Reporting Deadline of March 21

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On Feb. 17, the Texas federal district court in Smith v. U.S. Department of the Treasury granted the government’s motion for an immediate stay pending appeal of the nationwide order staying the effective date of the final...more

Holland & Knight LLP

Corporate Transparency Act: Government Appeals Smith Case, Seeks Reporting Rule Reinstatement

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Here are the latest developments in the ongoing Corporate Transparency Act (CTA) saga...more

Ballard Spahr LLP

Appeals Court stays small business reporting rule for many financial institutions

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The Fifth Circuit Court of Appeals has issued a stay that blocks for many financial institutions the implementation of a CFPB rule that requires the institutions to report information contained in loan applications submitted...more

BCLP

FinCEN Provides Guidance to Reporting Companies in Wake of Second Appeal to Fifth Circuit

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As previously reported, the Supreme Court has already considered on an emergency basis whether to stay Corporate Transparency Act (“CTA”) enforcement deadlines. In that case, McHenry v. Texas Top Cop Shop, Inc., No. 24A653,...more

Neal, Gerber & Eisenberg LLP

DOJ Seeks to Reinstate Corporate Transparency Act

On February 5, 2025, the Department of Justice (DOJ) filed a notice of appeal and motion for stay of the injunction against enforcement of the Corporate Transparency Act (CTA) issued by the Eastern District of Texas in Smith...more

Holtzman Vogel Baran Torchinsky & Josefiak

In-Compliance: Holtzman Vogel's January 2025 Round-Up

Supreme Court Lifts Fifth Circuit’s Corporate Transparency Act Injunction; Second District Court Enjoins Beneficial Ownership Reporting Rule and Requirements Remain Fluid - On January 23, 2025, the U.S. Supreme Court...more

IR Global

Beneficial Ownership Reporting – To File or Not to File?

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Considering conflicting rulings, businesses remain understandably confused about whether to file their mandated Beneficial Ownership Reports with FinCen. As of this writing, the answer remains that businesses may file but are...more

King & Spalding

CTA Compliance Stay Continues Despite Supreme Court Lifting Nationwide Injunction; FinCEN Recognizes Separate District Court Stay...

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On January 23, 2025, the U.S. Supreme Court granted the government’s motion to lift the nationwide injunction against enforcement of the Corporate Transparency Act (CTA) in Texas Top Cop Shop v. McHenry (formerly, Texas Top...more

Holland & Knight LLP

Supreme Court Stays CTA Injunction in Texas Top Cop Shop Case, but CTA Reporting Still on Hold

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In the Texas Top Cop Shop case, the U.S. District Court for the Eastern District of Texas on Dec. 3, 2024, issued an injunction that deferred all reporting requirements under the Corporate Transparency Act (CTA). (See Holland...more

Morrison & Foerster LLP

The Ping-Pong Continues – But CTA Is Still on Hold

On January 23, 2025, the U.S. Supreme Court granted the federal government’s motion to stay the nationwide injunction blocking the Corporate Transparency Act’s (CTA) enforcement, issued by the federal district court of the...more

Cozen O'Connor

A CTA Injunction Remains Despite Supreme Court Stay

Cozen O'Connor on

On January 23, 2025, the U.S. Supreme Court stayed the injunction issued by the Fifth Circuit Court of Appeals in the case of Texas Top Cop Shop, Inc. v. Garland, et al. Case No. 4:24-cv-478 (E.D. Tex.) (Texas Top Cop Case)....more

Moore & Van Allen PLLC

Corporate Transparency Act Reporting Obligations Remain Paused Despite Supreme Court Order

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On January 23, 2025, the United States Supreme Court ruled on McHenry v. Texas Top Cop Shop, Inc., granting the Government’s application to stay the injunction of the Corporate Transparency Act (“CTA”) initially ordered by...more

Husch Blackwell LLP

Nationwide Injunction Halts Enforcement of the Corporate Transparency Act -

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As of the posting of this article, reporting companies nationwide do not need to comply with the Corporate Transparency Act’s (CTA) revised beneficial owner information (BOI) reporting deadlines, though the situation may...more

Cole Schotz

CTA Update: Companies Not Required To File Under The CTA, Despite Supreme Court Stay

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Despite a Supreme Court order issued on January 23, 2025, as of January 24, 2025, FinCEN has stated they are not requiring companies to file under the CTA. On January 23, 2025, the U.S. Supreme Court, in an unsigned order,...more

Hinshaw & Culbertson LLP

UPDATE: SCOTUS Stayed a CTA Injunction Under the "Texas Top Cop Shop" Action, BUT the CTA is Still NOT Back in Effect

In the latest twist on the back-and-forth CTA battle, on January 23, 2025, the Supreme Court of the United States (SCOTUS) once again stayed (i.e., suspended the effect of) the nationwide preliminary injunction against...more

Wiley Rein LLP

CTA Update: Supreme Court Temporarily Lifts Injunction, but Requirements Remain Blocked

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On January 23, 2025, the U.S. Supreme Court issued a ruling that appears to settle – for now – a nearly two-month-long legal battle over the Corporate Transparency Act (CTA), which began with a nationwide preliminary...more

BCLP

SCOTUS Stays Nationwide Injunction of the CTA; But Different District Court Nationwide Stay of Reporting Deadline Still in Effect...

BCLP on

As previously reported, on December 31, 2024, the government filed an application in the Supreme Court of the United States to stay or narrow the Fifth Circuit’s preliminary nationwide injunction halting the Corporate...more

Proskauer Rose LLP

Round and Round We Go: Corporate Transparency Act Remains Stayed for Now, Despite U.S. Supreme Court Ruling

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On January 23, 2025, the U.S. Supreme Court ruled that the federal government may enforce the Corporate Transparency Act (“CTA”) while the Fifth Circuit continues to review a constitutional challenge to the law. Previously,...more

Allen Matkins

The CTA Is Dealt Another Blow

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As has been widely reported, U.S. District Court Judge Amos L. Mazzant in early December of last year preliminarily enjoined the CTA and its implementing regulations.  Texas Top Cop Shop, Inc. v. Garland, 2024 WL 5049220...more

Holland & Knight LLP

CTA: Government's Emergency Application to Supreme Court to Impose Stay – What's Next?

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As reported by Holland & Knight on Dec. 27, 2024, companies and individuals impacted by the Corporate Transparency Act (the CTA) reasonably could have believed there was a respite from the "off again, on again, off again"...more

Jaburg Wilk

CTA Filing Requirement Halted Again

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“In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in...more

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