State attorneys general challenge corporate-ownership reporting rule
Illinois’ attorney general says a 21-attorney-general coalition is suing over federal changes to Corporate Transparency Act ownership reporting.
What the record says
An October 27 announcement says Illinois Attorney General Kwame Raoul and Oregon Attorney General Dan Rayfield co-led the lawsuit.
The coalition alleges that FinCEN exceeded its authority by exempting businesses from ownership reporting and planning to delete existing records. It asks the court to declare the rule unlawful and require continued collection and maintenance of the ownership database.
Source details and supporting locations.
Practical next step
Read the Illinois attorney general’s announcement for the coalition’s allegations and requested relief.
Limits and what is not established
This is the plaintiffs’ account, not a court ruling or guidance on a business’s reporting obligations.
Sources checked October 28, 2026. Later notices may change instructions or arrangements.
Original sources
Illinois Attorney General: original information