Twenty-one states and the District of Columbia sued the administration on Tuesday morning over its rollback of corporate ownership reporting rules established under a 2021 anti-illicit finance law. The coalition asked a federal court to overturn the August rule exempting companies from disclosing beneficial ownership data. The challenge targets the administration's push to curtail anti-corruption efforts by removing requirements for millions of firms.
US States Sue Over Corporate Ownership Rule Rollback
Twenty-one US states and the District of Columbia have sued the Trump administration over its rollback of beneficial ownership reporting requirements. The lawsuit argues the executive branch illegally gutted the 2021 Corporate Transparency Act.
