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

This joint resolution would cancel a rule created by the Financial Crimes Enforcement Network (FinCEN) that was published on August 29, 2024. That rule required people involved in real estate closings to report cash purchases of residential property to FinCEN when the buyer is a certain type of legal entity or trust. If this resolution passes, that reporting requirement would no longer be in effect.

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