@PATAX Yes, those are definitely comparable.  A political promise and a term that courts have been applying for decades, if not centuries.  NAFTA is old wine in new bottles now called USMCA (sung to the tune by the Village People, a favorite campaign song).  Willful is the same old word that it has always been.  

Why are existing companies not grandfathered?  Because the whole idea is to let banks off the hook.  Granny's Antiques may have filed an LLC in 1980.  But Granny might have died in 2023 and her estate sold it (including the trade name)  to Dmitry Rybolovlev, who saw a chance to launder money with some of the inventory.  How is PNC Bank supposed to know that?  There's no record of the sale anywhere.