AG Brown sues to block the federal administration’s gutting of the Corporate Transparency Act

AG Brown sues to block the federal administration’s gutting of the Corporate Transparency Act FOR IMMEDIATE RELEASE: Oct 27 2026 atgAshleyGross Tue, 10/27/2026 - 12:22 Attorney General Nick Brown has joined a coalition of 20 states in a lawsuit to stop the federal administration from gutting a law that helps banking regulators and law enforcement investigate shell companies and crack down on financial crime. The law, the Corporate Transparency Act, requires corporations and limited liability companies to disclose to the federal government who actually owns and controls them. That matters because criminals often hide their money in shell companies—entities that exist on paper to obscure a company’s ownership. Now the United States Treasury Department’s Financial Crimes Enforcement Network, known as FinCEN, has exempted 99.9% of corporations from the law, making it nearly useless. “The administration is sending a loud message to financial criminals that the federal government doesn’t care what they do,” Brown said. “Our office will fight this unlawful attempt to let corporations hide assets, dodge taxes, and evade scrutiny.” Congress passed the Corporate Transparency Act with biparti

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