A joint resolution disapproving the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering Regulations for Residential Real Estate Transfers".
About This Bill
Committee
Latest Action · February 5, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This joint resolution nullifies the final rule issued by the Financial Crimes Enforcement Network (FinCEN) titled Anti-Money Laundering Regulations for Residential Real Estate Transfers and published on August 29, 2024. This rule requires persons involved in real estate closings and settlements to report to FinCEN any non-financed (i.e., cash) transfers of residential property to certain legal entities and trusts.
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