A joint resolution disapproving the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering Regulations for Residential Real Estate Transfers".
Latest action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · Feb 5, 2025
View full text on Congress.gov ↗ Policy area: Finance and Financial Sector
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.
Source: Congressional Research Service (CRS).
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