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

2/21/2025, 1:17 PM

Summary of Bill SJRES 15

Bill 119 SJRes 15 is a joint resolution that aims to disapprove of a rule submitted by the Financial Crimes Enforcement Network (FinCEN) regarding Anti-Money Laundering Regulations for Residential Real Estate Transfers. The rule in question was put forth by FinCEN to address concerns about money laundering and illicit financial activities in the real estate market.

The resolution seeks to reject this rule, arguing that it may impose unnecessary burdens on individuals involved in residential real estate transactions. Supporters of the resolution believe that the rule could hinder the ability of individuals to buy and sell property, potentially impacting the housing market.

Opponents of the resolution, however, argue that the rule is necessary to combat money laundering and other financial crimes in the real estate sector. They believe that the rule will help to increase transparency and accountability in real estate transactions, ultimately benefiting the overall integrity of the market. Overall, the resolution has sparked debate among lawmakers and stakeholders about the balance between preventing financial crimes and ensuring a smooth and efficient real estate market. The outcome of this resolution will have implications for how the US government approaches anti-money laundering regulations in the real estate sector.

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Current Status of Bill SJRES 15

Bill SJRES 15 is currently in the status of Bill Introduced since February 5, 2025. Bill SJRES 15 was introduced during Congress 119 and was introduced to the Senate on February 5, 2025.  Bill SJRES 15's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of February 5, 2025

Bipartisan Support of Bill SJRES 15

Total Number of Sponsors
4
Democrat Sponsors
0
Republican Sponsors
4
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill SJRES 15

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill SJRES 15

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

Sponsors and Cosponsors of SJRES 15

R
Mike Lee
Utah(Republican)

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