The Treasury Department announced that it has suspended enforcement of the Corporate Transparency Act (CTA) against domestic businesses and American citizens. As a result of this announcement, the Treasury will not issue fines or penalties to those who violate the CTA’s reporting requirements. The CTA was developed in 2021 as Read More
The Consumer Financial Protection Bureau announced that it dropped its lawsuit against Zelle, Wells Fargo, and other major banks that alleged the companies of failing to protect consumers from widespread fraud. In its dropped lawsuit, the CFPB claimed that hundreds of thousands of consumers filed fraud complaints to Wells Fargo, Read More
The Senate Banking Committee voted in favor of President Donald Trump’s nomination of Jonathan McKernan to lead the Consumer Financial protection Bureau. The Senate Banking Committee voted 13-11 to advance McKernan’s nomination as Director of the CFPB, moving it to the full Senate for confirmation. McKernan would lead the beleaguered Read More
