From the Center
AllSides Media Bias Rating: Center
President Donald Trump has celebrated the Treasury Department's announcement that it will not enforce fines under the Corporate Transparency Act, an anti-money laundering law that aims to increase transparency around the ownership of certain business entities.
Newsweek has contacted the Treasury Department for comment via email.
Why It Matters
The Corporate Transparency Act, passed by Congress in January 2021, took effect on January 1, 2024, under the Joe Biden administration. The suspension of the law marks the latest rollback of initiatives implemented by the previous administration during Trump's second term in office.
Check for Bias
The AI-powered AllSides Bias Checker instantly reveals the bias of a news article. Tap the button to use.
AllSides Picks
Bias
A ‘War’ or an ‘Operation’? Examining Media Bias in Coverage of Iran
Emanuel Macuixtle
May 28th, 2026
Headline Roundup
Second New World Screwworm Case Found in Texas Raises Concerns for Livestock
June 7th, 2026
Headline Roundup
Judge Blocks Trump Immigration and Asylum Policies, Orders Processing to Resume
June 6th, 2026
