Plain English
GovGreed Synthesis ·
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.
Market Impact Map
Action Timeline
2025-02-05
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2025-02-05
Introduced in Senate
Full Bill Text
119 SJ 15 IS: Disapproving the rule submitted by the Financial Crimes Enforcement Network relating to “Anti-Money Laundering Regulations for Residential Real Estate Transfers”. U.S. Senate 2025-02-05 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IIA 119th CONGRESS 1st Session S. J. RES. 15 IN THE SENATE OF THE UNITED STATES February 5, 2025 Mr. Lee introduced the following joint resolution; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs JOINT RESOLUTION Disapproving the rule submitted by the Financial Crimes Enforcement Network relating to Anti-Money Laundering Regulations for Residential Real Estate Transfers . That Congress disapproves the final rule submitted by the Financial Crimes Enforcement Network relating to Anti-Money Laundering Regulations for Residential Real Estate Transfers (89 Fed. Reg. 70258 (August 29, 2024)), and such rule shall have no force or effect.
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