The Supreme Court has allowed the Biden administration to enforce the Corporate Transparency Act, a 2021 law aimed at curbing money laundering and other financial crimes by requiring owners of small businesses to register personal information. The decision comes after a federal judge in Texas blocked the law, but the Supreme Court's action allows enforcement while the case continues.
with an arm of the Treasury Department charged with fighting money laundering and other financial crimes .
The justices granted an emergency plea made by the Justice Department in the waning days of the Biden administration to allow enforcement of the Corporate Transparency Act, enacted in 2021 to crack down on the illicit use of anonymous shell companies.Owners and part-owners of an estimated 32.6 million small businesses must register personal information with Treasury's Financial Crimes Enforcement Network, or FinCEN. The information includes photo IDs and home addresses.
It’s unclear whether the Trump administration will devote much effort to enforcing the registration requirement, which has beenby Republican-led states and lawmakers, as well as conservative and business interest groups. The registration requirement was blocked by a federal judge in Texas, who ruled that Congress lacked the authority to pass the corporate transparency law in the first place. It was kept on hold by a panel of the 5th U.S. Circuit Court of Appeals pending its review of the judge's ruling.
The Supreme Court action allows enforcement of the registration requirement while the Texas case winds through the courts.Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Corporate Transparency Act Money Laundering Financial Crimes Supreme Court Biden Administration
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