Davis Polk AML/BSA head Dan Stipano was quoted in Law360 discussing the Corporate Transparency Act, which the Treasury Department said it would not enforce on U.S. businesses.

“Corporate America hated it,” Dan said. “The rule was both complicated and ambiguous, which made it very hard to apply.”

“There was this undercurrent of unhappiness with it because of the complexity, because of the burdensome-ness of it, because of its intrusiveness,” he continued.

“New FinCEN Rule Is ‘Game Changer’ For Real Estate Investors,” Law360 Real Estate Authority (March 26, 2025) (subscription required)

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