A joint resolution disapproving the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering Regulations for Residential Real Estate Transfers".

Bill: 119-sjres-15
Sponsor: full_name: Sen. Lee, Mike [R-UT]
Introduced: 2025-02-05
Policy area: Finance and Financial Sector
Latest action: action_date: 2025-02-05
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2025-02-05
action_desc: Introduced in Senate
text: <p>This joint resolution nullifies the final rule issued by the Financial Crimes Enforcement Network (FinCEN) titled <em>Anti-Money Laundering Regulations for Residential Real Estate Transfers </em>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.</p>

tv_txt: 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.