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US Supreme Court revives Corporate Transparency Act to regulate money-laundering

JURIST

The US Supreme Court issued a temporary nationwide stay Thursday that revived the Corporate Transparency Act , which regulates money laundering by requiring small businesses to register with the United States Treasury Department’s Financial Crimes Enforcement Network.

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US Supreme Court rules that federal government can be liable under Fair Credit Reporting Act

JURIST

In a unanimous slip opinion, the US Supreme Court ruled on Thursday that the Fair Credit Reporting Act (FCRA) waives sovereign immunity and that the federal government can be liable for incorrect debt reporting that damages credit scores. The federal government plays a central role in the distribution and use of this data.

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Can I Register a Disparaging Trademark?

L4SB

appeared first on Law 4 Small Business, P.C. The post Can I Register a Disparaging Trademark?

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Justices to consider tribal immunity from bankruptcy process

SCOTUSBlog

Second, courts will read federal statutes to abrogate that immunity only when they speak to the point “unequivocal[ly].” The Band’s argument is simple: the statute never mentions Indian tribes. Because it doesn’t mention Indian tribes, the Band contends that the statute does not unequivocally extend to them.

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Pandemic Fraud Cases So Far Top $1B

The Crime Report

About 50 agents in a Small Business Administration office are sorting through two million potentially fraudulent loan applications. The federal government has already charged 1,500 people with defrauding pandemic-aid programs, and more than 450 people have been convicted so far.

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Biz Groups Call Corp. Transparency Act Unconstitutional

Law 360

government has failed to show how the Corporate Transparency Act meets narrow exceptions to the Fourth Amendment's search warrant requirements, a group of small businesses told a Michigan federal court Friday in contending that the statute is unconstitutional.

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Bankruptcy Related Changes Under CARES Act and Consolidated Appropriations Act

Diane Drain

In Chapter 7 filings, the CARES Act also amended the definition of “income” to exclude coronavirus-related payments from the federal government. As originally enacted, a business’s debts must be less than $2,725,625 in order to be eligible to file a case under Subchapter V. This debt limit was increased to $7.5