CHICAGO — As the sun sets on 2024, we’re taking one last look at the most popular news and feature stories posted on AmericanDrycleaner.com, based on our readership views.
We listed No. 10 through No. 6 in Part 1 of this feature, and today, we’ll conclude by counting down the top five spots for 2024.
(Click on the heading to read the story. If the Top 10 story was part of a larger series, we have provided additional links so you can easily read the entire article.)
Counting down from No. 5, our top stories from 2024 were:
5. EPA Enacts Ban on Perc
In December, the Environmental Protection Agency (EPA) announced the ban of a solvent used in many U.S. drycleaning plants. Through the efforts of drycleaning industry groups, however, cleaners will have a few years to come into compliance.
The ban announced on Dec. 9 affects perchloroethylene, also known as PCE or perc, along with trichloroethylene (TCE). The EPA’s intention to sunset these two solvents was first announced in June 2023, when the agency opened the discussion to the public. Through the efforts of groups such as the Drycleaning & Laundry Institute (DLI) and the National Cleaners Association (NCA), however, dry cleaners will have a longer timeline than many other industries to eliminate perc from their processes.
4. Federal Court Blocks Beneficial Ownership Reporting Requirements
Also in December, Judge Amos Mazzant of the U.S. District Court for the Eastern District of Texas issued a nationwide temporary injunction that blocked the enforcement of the Beneficial Ownership Information (BOI) reporting requirements of the federal Corporate Transparency Act (CTA).
The law, which would affect almost all drycleaning company owners, required most companies to file what is called a BOI report with a federal agency called the Financial Crimes Enforcement Network (FinCEN) by Jan. 1, 2025. Businesses having to file under the CTA included every corporation and LLC, as well as any other entity that is created by the filing of a document with the Secretary of State or similar office.
FinCEN has suspended enforcing its mandatory BOI reporting requirements while the court order remains in force but notes that businesses may continue to voluntarily submit reports.
3. What Dry Cleaners Should Know About New Reporting Requirements, Part 1 — Part 2 — Conclusion
The federal government passed the Corporate Transparency Act (CTA), which went into effect on January 1, 2024. It requires most small businesses to file what is called a Beneficial Ownership Information, or BOI, report with a federal agency called the Financial Crimes Enforcement Network, better known as FinCEN.
The act is an effort by the federal government to combat money laundering and other financial crimes. However, as has been reported, its mandatory reporting requirements have been suspended.
2. DLI to Offer Slate of Courses in 2024
In January, the Drycleaning & Laundry Institute’s School of Drycleaning Technology announced a full slate of courses for 2024. The offerings included both on-site and virtual courses, as well as self-study classes.
While valuable for those new to the industry, long-term, experienced drycleaning staff members could also take away some new techniques at the school, the organization said, stating that “the way it’s always been done” might not be the most efficient or safest way to process garments.
1. $5.5B Payment Card Settlement Could Benefit Many Dry Cleaners
In December 2023, the claim submission process started for the largest private antitrust class-action settlement in U.S. history. Millions of business owners nationwide were expected to submit claims to get their portion of the court-approved $5.54 billion settlement.
The class-action suit included U.S. businesses that accepted Visa and/or Mastercard credit or debit cards between Jan. 1, 2004, and Jan. 25, 2019, and who did not previously opt-out. On March 15, 2023, the Court of Appeals for the Second Circuit unanimously upheld the district court’s order giving final approval to the $5.54 billion settlement on behalf of U.S. merchants in the “In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation” class action lawsuit.
For the first part of this list, click HERE.
Have a question or comment? E-mail our editor Dave Davis at [email protected].
