U.S. District Court Strikes Down Corporate Transparency Act (CTA) as Unconstitutional: Impact to Community Associations

A U.S. District Court judge in Alabama recently ruled that the Corporate Transparency Act (CTA) is unconstitutional. The CTA, enacted on January 1, 2021, directs the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) to establish a nationwide database of beneficial ownership of certain corporations and other legal entities, including condominium, homeowner (HOA) and townhome community associations.   Read the article…………………………….

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