Supreme Court Revives Law Meant to Fight Money Laundering
Published On Jan 23, 2025, 2:45 PM
The Supreme Court has reinstated the Corporate Transparency Act, a federal law that requires companies to disclose ownership information to combat money laundering, drug trafficking, and terrorism. Critics of the law argue it is overly burdensome, particularly for small businesses, alleging it constitutes an unconstitutional federal overreach. The law, initially blocked by a federal judge, will now remain in effect while litigation continues regarding its constitutionality.
Stock Forecasts
IWM
Negative
The reinstatement of the Corporate Transparency Act could negatively impact small businesses that face increased compliance costs. Companies in sectors most affected, such as small business and technology, may experience stock price pressures due to potential higher operational costs and regulatory burdens.
Related News
Chamber of Commerce CEO touts small business: 'State of American business is local'
Jan 17, 2025, 6:00 AM
U.S. Chamber of Commerce CEO Suzanne Clark delivered a "State of American Business" address that spotlighted small businesses and how all businesses have a local impact.
Treasury again delays the beneficial ownership reporting deadline for small businesses
Dec 30, 2024, 11:23 AM
A Jan. 13 deadline for businesses to report "beneficial ownership information" was delayed again following a court order.
10 charts that tell the story of markets and the economy in 2024
Dec 30, 2024, 6:00 AM
Here's why the S&P 500 is on track to rise more than 20% in two consecutive years for the first time since the late 1990s.