A federal court judge in Alabama ruled the Corporate Transparency Act (CTA) was beyond Congress’s power, potentially throwing the effectiveness of the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) beneficial ownership information (BOI) registry into doubt.
U.S. District Judge Liles Burke of the Northern District of Alabama ruled Friday in the case of the National Small Business Association (NSBA) v. Janet Yellen, arguing the CTA was unconstitutional.
