News

A federal court in Texas banned enforcement of the Corporate Transparency Act across the U.S. on Tuesday, less than a month out from the measure's first deadline for tens of millions of legal entities to identify their true owners to the Financial Crimes Enforcement Network, or FinCEN. Judge Amos Mazzant of the Eastern District of Texas ruled in favor of firearms dealer Texas Top Cop Shop Inc. and five other plaintiffs in finding that the CTA, which Congress enacted as part of an annual defense-spending bill in January 2021, "violates the promises our Constitution makes to the people and the...