Waters, Whitehouse, Wyden, Warren and Reed File Two Amicus Briefs Affirming Constitutionality of Corporate Transparency Act, Congressional Lawmaking
Washington, DC,
February 24, 2025
Briefs urge the 4th and 5th Circuits to affirm the years-long lawmaking process of the Corporate Transparency Act as a legitimate exercise of congressional authorities Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Senators Sheldon Whitehouse (D-RI), Ron Wyden (D-OR), Elizabeth Warren (D-MA), and Jack Reed (D-RI) filed two amicus curiae —or “friend of the court”—briefs on the constitutionality of the bipartisan Corporate Transparency Act (CTA), the 2021 law considered the most important anti-money laundering law passed in two decades. The members filed briefs in Texas Top Cop Shop v. Bondi, a case at the U.S. Court of Appeals for the 5th Circuit, and Community Associations Institute v. Treasury, a case at the U.S. Court of Appeals for the 4th Circuit. In January 2025, the members filed a similar amicus brief in Firestone v. Yellen, a case at the U.S. Court of Appeals for the 9th Circuit. The members first filed an amicus brief defending the CTA in April 2024 in National Small Business United v. Yellen, a case at the U.S. Court of Appeals for the 11th Circuit. “Anonymous shell corporations harm the United States’ national security, foreign affairs, foreign and interstate commerce, and tax interests. Such shell companies often operate in multiple layers to hide their true owners and violations of key sanctions, money-laundering, and tax laws. Allowing illicit money to be hidden through corporate forms also undermines public safety and law enforcement efficacy on a national and international scale,” wrote the members. Waters, an original cosponsor of the CTA, shepherded the bill into law while serving as Chairwoman of the House Financial Services Committee. As influential members of the Senate Banking Committee, Reed and Warren played instrumental roles in shaping the legislation. Whitehouse was the original sponsor of the TITLE Act, the precursor to the Corporate Transparency Act, alongside Senator Chuck Grassley (R-IA). Wyden was the original Senate sponsor of the CTA alongside Senators Marco Rubio (R-FL) and Whitehouse. ### |