The Treasury Department announced on March 2nd that it does not intend to enforce any penalties or fines against either U.S. citizens or domestic reporting companies and their beneficial owners under the Corporate...more
On Tuesday, February 18, 2025, a Federal district judge in Texas lifted the nationwide preliminary injunction issued in Smith v. U.S. Dept. of Treasury, which means that the Corporate Transparency Act (“CTA”) and its...more
On March 11, 2024, the U.S. Department of Justice filed a notice of appeal with the Eleventh Circuit to appeal the decision by the U.S. District Court for the Northern District of Alabama (Northeastern Division) that held...more
On March 1, 2024, the U.S. District Court for the Northern District of Alabama (Northeastern Division) held that the Corporate Transparency Act (the “CTA”) is unconstitutional. See National Small Business United v. Yellen,...more
On October 20, 2020, the FDIC issued an interim final rule (the “Interim Final Rule”) to provide banks temporary relief from the Part 363 audit and reporting requirements. Due to participation in various government stimulus...more
At the onset of the pandemic, many financial institutions offered credit accommodations, such as short-term deferrals and other loan modifications, to borrowers in response to the significant adverse impact caused by...more
8/26/2020
/ Borrowers ,
Commercial Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
FDIC ,
Federal Reserve ,
FFIEC ,
Financial Institutions ,
Loan Modifications ,
Loans ,
NCUA ,
New Guidance ,
OCC ,
Retail