U.S. Department of the Treasury, Office of Inspector General

Gust Selects FinCEN REPORT as the Exclusive Provider for Beneficial Ownership Reporting Required by the Corporate Transparency Act

Retrieved on:

Thursday, November 9, 2023

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ATLANTA, Nov. 9, 2023 /PRNewswire/ -- FinCEN REPORT, an online beneficial ownership reporting solution, has partnered with Gust, an online resource that helps entrepreneurs start, run, and fundraise for companies, to provide their community with a comprehensive tool for uploading and managing beneficial ownership information (BOI) as required by the Corporate Transparency Act (CTA). Gust is the world's largest community of entrepreneurs and early-stage investors from 192 countries—and many of Gust's startups in the U.S. will be affected by the CTA beginning January 1, 2024.

Key Points:

FinCEN REPORT's software will help thousands of startup businesses in the Gust community comply with the Corporate Transparency Act.
ATLANTA, Nov. 9, 2023 /PRNewswire/ -- FinCEN REPORT, an online beneficial ownership reporting solution, has partnered with Gust, an online resource that helps entrepreneurs start, run, and fundraise for companies, to provide their community with a comprehensive tool for uploading and managing beneficial ownership information (BOI) as required by the Corporate Transparency Act (CTA).
Additionally, founder and CEO of FinCEN REPORT, Jonathan B. Wilson, will speak to the Gust community via webinar on November 16, 2023, to discuss the BOI reporting requirements of the CTA.
Congress passed the CTA in 2020—requiring the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) to build a beneficial ownership registry.

NAIC Data Call to Provide Robust Look at Property Insurance Availability, Affordability

Retrieved on:

Thursday, November 2, 2023

Property, Insurance, Treasury, FIO, Committee, Data collection, Commissioner, Multimedia, NAIC, Federated Insurance Company of Canada, U.S. Department of the Treasury, Office of Inspector General, Property and casualty insurance guaranty funds, Use of Free and Open-Source Software (FOSS) in the U.S. Department of Defense, National Association of Insurance Commissioners, Investment, National Association

Work on the template for the ZIP-code-level data state insurance regulators will request from insurers is continuing under the direction of the Property and Casualty Insurance (C) Committee, chaired by Alan McClain, Commissioner of the Arkansas Insurance Department.

Key Points:

Work on the template for the ZIP-code-level data state insurance regulators will request from insurers is continuing under the direction of the Property and Casualty Insurance (C) Committee, chaired by Alan McClain, Commissioner of the Arkansas Insurance Department.
The NAIC has been engaged in ongoing discussions regarding the data call with members of the insurance industry and state insurance regulators, as well as the U.S. Department of the Treasury's Federal Insurance Office (FIO).
State insurance regulators have been working to add granular data on availability and affordability of property coverage for consumers to the robust financial data on solvency and investments we already have.
This is part of our long-term, robust data collection strategy to help regulators nimbly respond to inquiries related to their property markets.

Local nonprofits to help more Michiganders make ends meet through MI Nonprofit Relief Fund

Retrieved on:

Thursday, November 2, 2023

LANSING, Mich., Nov. 2, 2023 /PRNewswire/ -- The Michigan Nonprofit Association (MNA) has announced the list of 1,373 nonprofit award winners of the MI Nonprofit Relief Fund, a vital lifeline for Michigan's charitable organizations grappling with the adverse impacts of the COVID-19 pandemic. The fund, announced in February of 2023 and totaling $35 million, is dedicated to assisting small charitable nonprofit organizations that have been tirelessly serving their communities in these challenging times.

Key Points:

"The Michigan Nonprofit Relief Fund will support nearly 1,400 nonprofits across the state so they can continue to provide their critical services.
Michigan-based nonprofits applied to the MI Nonprofit Relief Fund in the spring of 2023.
The MI Nonprofit Relief Fund is awarding one-time grant funds ranging from $5,000 to $25,000 to nonprofits in areas most affected by COVID-19, especially those underserved and underrepresented populations.
For more information about the MI Nonprofit Relief Fund, including details about all grantees, visit www.mnaonline.org/policy/nonprofit-relief-fund .

Harvard Business Services Chooses FinCEN REPORT's Beneficial Ownership Reporting Software to Keep Clients in Compliance with the Corporate Transparency Act

Retrieved on:

Tuesday, October 24, 2023

Financial Crimes Enforcement Network, Delaware General Corporation Law, Treasury, CNBC, Venture capital, Congress, CTA, Crime, Software, Interview, DGCL, Citadel LLC, BOI, U.S. Department of the Treasury, Office of Inspector General, Privacy Office of the U.S. Department of Homeland Security, Cryptocurrency

According to a CNBC report from 2023, more than 60% of Fortune 500 companies are incorporated in Delaware. Many Venture Capital firms use Delaware corporations exclusively, due to the stability, flexibility and fairness of the Delaware General Corporation Law (DGCL), and tens of thousands of independent entrepreneurs choose to form their LLCs in Delaware. The CTA will affect more than 30 million businesses in the U.S. --which includes thousands of companies formed with Harvard Business Services. FinCEN REPORT's software will ensure that Harvard Business Services' clients are able to easily upload and file their BOI while maintaining data privacy.

Key Points:

FinCEN REPORT will help thousands of Delaware LLCs and corporations working with Harvard Business Services to file beneficial ownership information required by the Corporate Transparency Act.
FinCEN REPORT's software will ensure that Harvard Business Services' clients are able to easily upload and file their BOI while maintaining data privacy.
"Harvard Business Services is excited to partner with FinCEN Report," said Michael Bell, President of Harvard Business Services.
With FinCEN REPORT, Harvard Business Services and many other registered agents can ensure that their clients comply with the Corporate Transparency Act.

United Bank Awarded $9 Million Capital Magnet Fund Award by US Department of Treasury

Retrieved on:

Friday, October 13, 2023

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ATMORE, Ala., Oct. 13, 2023 /PRNewswire/ -- (OTCQX:UBAB) -United Bank announced today the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) has awarded it a $9 million Capital Magnet Fund award for 2023, the fourth such award received since 2017.

Key Points:

ATMORE, Ala., Oct. 13, 2023 /PRNewswire/ -- (OTCQX:UBAB) -United Bank announced today the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) has awarded it a $9 million Capital Magnet Fund award for 2023, the fourth such award received since 2017.
The award reflects United Bank's commitment to bringing badly needed affordable housing to communities across Alabama, Florida, and surrounding states.
United Bank has been awarded a $9 million Capital Magnet Fund award by the US Department of Treasury for 2023.
The Capital Magnet Fund offers competitively awarded grants to CDFIs and nonprofit affordable housing organizations to finance affordable housing solutions and community revitalization efforts that benefit individuals and families with lower incomes and low-income communities nationwide.

FTC Staff Submit Comment Supporting Proposed Amendments to Regulations Implementing the Mental Health Parity and Addiction Equity Act

Retrieved on:

Monday, October 2, 2023

Staff in the Federal Trade Commission’s Bureau of Consumer Protection have submitted a comment to the U.S. Department of the Treasury, U.S. Department of Labor, and U.S. Department of Health and Human Services supporting proposed amendments to regulations implementing the Mental Health Parity and Addiction Equity Act.

Key Points:

Staff in the Federal Trade Commission’s Bureau of Consumer Protection have submitted a comment to the U.S. Department of the Treasury, U.S. Department of Labor, and U.S. Department of Health and Human Services supporting proposed amendments to regulations implementing the Mental Health Parity and Addiction Equity Act.
The comment further details how the FTC has used additional enforcement tools included in the 2018 Opioid Addiction Recovery Fraud Prevention Act (OARFPA) to combat SUD treatment scams.
The comment noted that the proposed amendments strike the right balance between leaving intact previous enforcement systems while promoting better insurance coverage for SUD treatment.
Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.

FTC Staff Submit Comment Supporting Proposed Amendments to Regulations Implementing the Mental Health Parity and Addiction Equity Act

Retrieved on:

Monday, October 2, 2023

Staff in the Federal Trade Commission’s Bureau of Consumer Protection have submitted a comment to the U.S. Department of the Treasury, U.S. Department of Labor, and U.S. Department of Health and Human Services supporting proposed amendments to regulations implementing the Mental Health Parity and Addiction Equity Act.

Key Points:

Staff in the Federal Trade Commission’s Bureau of Consumer Protection have submitted a comment to the U.S. Department of the Treasury, U.S. Department of Labor, and U.S. Department of Health and Human Services supporting proposed amendments to regulations implementing the Mental Health Parity and Addiction Equity Act.
The comment further details how the FTC has used additional enforcement tools included in the 2018 Opioid Addiction Recovery Fraud Prevention Act (OARFPA) to combat SUD treatment scams.
The comment noted that the proposed amendments strike the right balance between leaving intact previous enforcement systems while promoting better insurance coverage for SUD treatment.
Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.

FirstPathway Community Development Awarded $50 million in New Markets Tax Credits

Retrieved on:

Wednesday, September 27, 2023

Employment, U.S. Department of Defense Strategy for Operating in Cyberspace, Community Development Financial Institutions Fund, New Markets Tax Credit Program, FPCD, NMTC, EB-5, Organization, Treasury, U.S. Department of the Treasury, Office of Inspector General, Investment, CDFI, Economic development, Community development financial institution, Community development, Federation, Renewable energy

MILWAUKEE, Sept. 27, 2023 /PRNewswire/ -- The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund announced today that it awarded FirstPathway Community Development (FPCD) $50 million in New Markets Tax Credits (NMTCs).

Key Points:

MILWAUKEE, Sept. 27, 2023 /PRNewswire/ -- The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund announced today that it awarded FirstPathway Community Development (FPCD) $50 million in New Markets Tax Credits (NMTCs).
New Markets Tax Credits permit taxpayers to receive a credit against federal income taxes for making equity investments on qualified low-income community investments.
The funding also helps preserve and create jobs while bringing community facilities and new businesses into neighborhoods that desperately need them.
FirstPathway Community Development is an equal opportunity provider.

Deleno IFC: Making a Splash at TOKEN2049 Singapore, Igniting Market Excitement

Retrieved on:

Thursday, September 21, 2023

Social responsibility, U.S. Department of the Treasury, Office of Inspector General, U.S. Department of Defense Strategy for Operating in Cyberspace, Digital asset, Innovative Forces for Union and Solidarity, Risk management, Research, Financial Crimes Enforcement Network, Treasury, Ethics, Ecosystem, Social, Mining

In this summit, Deleno IFC, a highly anticipated project, made its dazzling debut and immediately garnered significant market attention.

Key Points:

In this summit, Deleno IFC, a highly anticipated project, made its dazzling debut and immediately garnered significant market attention.
As one of the platinum sponsors and exhibitors, Deleno IFC showcased its cutting-edge position in the financial sector.
At the TOKEN2049 summit, Deleno IFC shared its latest research findings and investment insights, offering participants a deep understanding of market trends.
As TOKEN2049 Singapore continues, Deleno IFC will continue to play a leading role in financial innovation and sustainable development, contributing more value to the future of finance.

FinCEN REPORT Launches Filing Service That Supports New Corporate Transparency Act Requirements & U.S. Anti-Money Laundering Efforts

Retrieved on:

Wednesday, September 20, 2023

White House, U.S. Department of the Treasury, Office of Inspector General, Interview, Crime, Privacy Office of the U.S. Department of Homeland Security, Financial Crimes Enforcement Network, CTA, Corporate transparency, Treasury, Congress, Department of the Treasury, Collection, Illegal drug trade, Conference, Cryptocurrency, Drug

ATLANTA, Sept. 20, 2023 /PRNewswire/ -- FinCEN REPORT has launched its patent-pending filing tool to help beneficial owners file and comply with the new legal requirements under the Corporate Transparency Act (CTA). This secure online solution, security certified by Breachlock, allows business owners to easily submit their beneficial ownership information while maintaining data privacy.

Key Points:

With more than 30 million small business owners impacted by the new Corporate Transparency Act on January 1, 2024, FinCEN REPORT launches a new, secure, and affordable filing solution that concurrently helps combat financial crimes.
ATLANTA, Sept. 20, 2023 /PRNewswire/ -- FinCEN REPORT has launched its patent-pending filing tool to help beneficial owners file and comply with the new legal requirements under the Corporate Transparency Act (CTA).
"The Corporate Transparency Act is a law that will eliminate corporate anonymity in the U.S., empowering law enforcement to fight the money laundering that facilitates human trafficking and drug smuggling," said Jonathan B. Wilson, CEO and Founder of FinCEN REPORT.
To learn more about how FinCEN REPORT is making it easy for business owners to successfully abide by the new CTA requirements, please visit https://fincenreport.com/ .