Yana Britan Tanck

BCLP

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CTA and Corporate Governance: A Quick Guide for Situations Where CTA Comes into Play

The Corporate Transparency Act (“CTA”) was enacted by The U.S. Congress in January 2021 as a way to protect the United States financial system from being used for money laundering and other illicit activities....more

8/5/2024 / Anti-Money Laundering , Beneficial Owner , Compliance , Corporate Counsel , Corporate Governance , Corporate Transparency Act , Financial Crimes , FinCEN , Regulatory Requirements , Reporting Requirements

CFPB Applies Consumer Credit Card Protections to Buy Now, Pay Later Plans

Buy Now, Pay Later (“BNPL”) payments are often presented by retailers and BNPL lenders to consumers as an alternative to traditional credit card payments. After close scrutiny of industry practices for several years, the...more

6/4/2024 / Buy Now Pay Later (BNPL) , Compliance , Consumer Financial Products , Consumer Financial Protection Bureau (CFPB) , Consumer Lenders , Credit Cards , Final Rules , Financial Services Industry , Retailers , Truth in Lending Act (TILA)

FinCEN Updates CTA FAQs for the First Time in Three Months - Includes Clarity About Reporting Requirements for Beneficial Owners

On April 18, 2024, the Financial Crimes Enforcement Network (FinCEN) published an updated set of Frequently Asked Questions (FAQs) pertaining to the Beneficial Ownership Information (BOI) Reporting Rule under the Corporate...more

4/26/2024 / Beneficial Owner , Compliance , Corporate Transparency Act , Exceptions , FinCEN , Guidance Update , Natural Person Requirement , Reporting Requirements , Securities and Exchange Commission (SEC)

Navigating the Corporate Transparency Act Maze

With the Corporate Transparency Act (CTA) now in effect, it is crucial for privately held mid-sized and large companies to look into and re-examine their corporate structures to ensure compliance with the new law. While the...more

1/29/2024 / Beneficial Owner , Compliance , Corporate Transparency Act , Exemptions , FinCEN , Holding Companies , Reporting Requirements , Subsidiaries

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