The U.S. Supreme Court has agreed to reinstate a federal anti-money laundering law at the federal government’s request while legal challenges continue in a lower court.
The court issued an emergency stay, temporarily blocking a federal judge’s injunction against the Corporate Transparency Act (CTA). This law mandates that millions of business entities disclose personal information about their owners to combat money laundering and financial crimes. Notably, Justice Ketanji Brown Jackson was the lone dissenter in the ruling.
The Biden-era Justice Department petitioned the Supreme Court late last month, urging it to uphold the CTA while the case plays out. The justices ruled just three days after President Trump’s inauguration, though Trump’s administration had previously opposed the law during his first term.Read More Below
