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Treasury scraps reporting rule for U.S. small business owners

Summary by CNBC

The Treasury Department issued a rule that significantly waters down the number of businesses that must report information about their owners.

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Conservative Review

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As Trump Administration Moves To Void Settlement With Small Business, Documents Shed Light on Kafkaesque Nightmare to Which it Was Subjected

In November 2024, the Biden administration’s Consumer Financial Protection Bureau (CFPB) fined Townstone Financial, a small mortgage company in Chicago, Ill., $105,000 for statements the company’s owner had made about crime in the city. The police “are the only ones between that [area] turning into a real war zone and keeping it kind of where it’s at,” Barry Sturner said in 2016.The post As Trump Administration Moves To Void Settlement With Smal…

2 days ago

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InSight Crime

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How Trump’s Anti-Money Laundering Rollback Could Help LatAm Criminals

How Trump’s Anti-Money Laundering Rollback Could Help LatAm Criminals Experts say that the administration of President Donald Trump may be making it easier for criminals to get away with money laundering and bribery by abandoning the enforcement of laws that crack down on shell companies and corporate graft.The Trump administration has said it will largely stop enforcing two key laws in the United States: the Corporate Transparency Act (CTA), wh…

2 days ago

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Denver Gazette

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US Treasury lifts reporting requirement for US firms in anti-money laundering law

WASHINGTON (Reuters) - The U.S. Treasury on Wednesday published an interim final rule that removes a requirement for U.S. companies, citizens and other entities to report beneficial ownership information under an anti-money laundering law, narrowing the scope to foreign entities.

2 days ago

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CNBC

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Treasury scraps reporting rule for U.S. small business owners

The Treasury Department issued a rule that significantly waters down the number of businesses that must report information about their owners.

3 days ago·United States

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PilieroMazza PLLC.

SBA's 180-Day Recertification Rule: Clarifying the Meaning of “Offer” in Size Determinations | PilieroMazza, Law Firm, Government Contracts Attorney

In a recent decision by the U.S. Small Business Administration (SBA) Office of Hearings and Appeals (OHA), the Size Appeal of Secise, LLC, SBA No. SIZ-6337 (Feb. 19, 2025) clarified an important exception to the general rule for determining a firm’s size status. The ruling addressed the meaning of “offer” under the SBA’s 180-day rule, a key factor in determining whether a firm remains eligible for a small business set-aside contract following a …

1 day ago

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Repairer Driven News

U.S. Treasury publishes interim final rule on Corporate Transparency Act

The U.S. Treasury Department announced Wednesday that it has published an interim final rule that removes requirements for U.S. companies and persons to report beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act, according to a press release. “It is important to rein in burdensome regulations to the benefit of hard-working American taxpayers and small businesses,” said …

1 day ago

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