21 States Sue U.S. Treasury to Fulfill Corporate Transparency Act

            On October 27, 2026, 21 state and District of Columbia attorneys general brought a lawsuit in the U.S. District in Oregon seeking to reverse the Trump administration’s elimination of beneficial ownership reporting requirements for more than 99.9% of previously covered persons, thereby reigniting a controversy over anti-money laundering and entity transparency rules.  In 2021, Congress enacted the Corporate Transparency Act (CTA) with bipartisan support. It established a Treasury database of business owners that law enforcement can use to trace dirty money, track down stolen assets, and uncover bribes and political payoffs.