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A joint resolution disapproving the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering Regulations for Residential Real Estate Transfers".
Disapproving the rule submitted by the Financial Crimes Enforcement Network relating to ``Anti-Money Laundering Regulations for Residential Real Estate Transfers''.
Summary
This joint resolution disapproves a final rule issued by the Financial Crimes Enforcement Network (FinCEN) on August 29, 2024, that established anti-money laundering regulations for residential real estate transfers. The resolution declares that the rule shall have no force or effect, meaning it invalidates the regulation. If passed by Congress, the rule would be repealed and would not apply to residential real estate transactions.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Lee, Mike [R-UT] (R-UT)
Actions (2)
- Feb 5, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Feb 5, 2025 Introduced in Senate
Similar bills (6)
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Full text
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”.
Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, 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. <all>
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