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Disapproves and nullifies the Financial Crimes Enforcement Network’s final rule titled "Anti-Money Laundering Regulations for Residential Real Estate Transfers" (89 Fed. Reg. 70258, Aug. 29, 2024), so that the rule has no force or effect. The legislative action removes the regulatory requirements created by that specific FinCEN rule and prevents that text from applying to residential real estate transactions.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced February 5, 2025 by Mike Lee · Last progress February 5, 2025
