Congress disapproves the Financial Crimes Enforcement Network's rule on Anti-Money Laundering Regulations for Residential Real Estate Transfers.
The bill, introduced by Senator Mike Lee, seeks to disapprove the final rule submitted by the Financial Crimes Enforcement Network concerning Anti-Money Laundering Regulations for Residential Real Estate Transfers. This rule, published on August 29, 2024, is set to have no force or effect if the resolution passes. The Financial Crimes Enforcement Network, an agency under the U.S. Department of the Treasury, issued this rule to combat money laundering through residential real estate transactions.
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