0
0
0
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of 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 HJRES 55
Bill 119 hjres 55 is a piece of legislation 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 is outlined in chapter 8 of title 5, United States Code.
The purpose of the rule is to combat money laundering in the residential real estate market by requiring certain individuals involved in real estate transactions to disclose their identities. This is intended to prevent criminals from using real estate transactions to launder illicit funds.
However, some members of Congress believe that the rule is overly burdensome and could have negative consequences for the real estate industry. They argue that the rule could deter legitimate buyers and sellers from participating in real estate transactions, ultimately harming the market. As a result, Bill 119 hjres 55 seeks to disapprove of the rule submitted by FinCEN. If passed, this legislation would prevent the rule from going into effect, effectively nullifying its impact on the residential real estate market. Overall, Bill 119 hjres 55 represents a debate between the need to combat money laundering in the real estate sector and concerns about the potential negative effects of the proposed rule. It will be up to Congress to decide whether to approve or disapprove of the rule submitted by FinCEN.
The purpose of the rule is to combat money laundering in the residential real estate market by requiring certain individuals involved in real estate transactions to disclose their identities. This is intended to prevent criminals from using real estate transactions to launder illicit funds.
However, some members of Congress believe that the rule is overly burdensome and could have negative consequences for the real estate industry. They argue that the rule could deter legitimate buyers and sellers from participating in real estate transactions, ultimately harming the market. As a result, Bill 119 hjres 55 seeks to disapprove of the rule submitted by FinCEN. If passed, this legislation would prevent the rule from going into effect, effectively nullifying its impact on the residential real estate market. Overall, Bill 119 hjres 55 represents a debate between the need to combat money laundering in the real estate sector and concerns about the potential negative effects of the proposed rule. It will be up to Congress to decide whether to approve or disapprove of the rule submitted by FinCEN.
Congressional Summary of HJRES 55
This joint resolution nullifies the final rule issued by the Financial Crimes Enforcement Network (FinCEN) titled Anti-Money Laundering Regulations for Residential Real Estate Transfers and published on August 29, 2024. This rule requires persons involved in real estate closings and settlements to report to FinCEN any non-financed (i.e., cash) transfers of residential property to certain legal entities and trusts.
Current Status of Bill HJRES 55
Bill HJRES 55 is currently in the status of Bill Introduced since February 12, 2025. Bill HJRES 55 was introduced during Congress 119 and was introduced to the House on February 12, 2025. Bill HJRES 55's most recent activity was Referred to the House Committee on Financial Services. as of February 12, 2025
Bipartisan Support of Bill HJRES 55
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HJRES 55
Primary Policy Focus
Finance and Financial SectorComments
Sponsors and Cosponsors of HJRES 55
Latest Bills
Farm, Food, and National Security Act of 2026
Bill HR 7567May 5, 2026
YODA
Bill HR 8652May 5, 2026
Advancing Safe Medications for Moms and Babies Act of 2026
Bill HR 8651May 5, 2026
Proposing an amendment to the Constitution of the United States to protect United States citizenship.
Bill HJRES 172May 5, 2026
To provide assisted living assistance through Medicaid and low-income housing tax credit.
Bill HR 8662May 5, 2026
Proposing an amendment to the Constitution of the United States to provide for term limits for justices of the Supreme Court.
Bill HJRES 174May 5, 2026
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Consumer Financial Protection Circular 2024-02: Deceptive Marketing Practices About the Speed or Cost of Sending a Remittance Transfer".
Bill HJRES 175May 5, 2026
Resolution memorializing law enforcement officers killed in the line of duty.
Bill HRES 1252May 5, 2026
Recognizing the roles and contributions of elementary and secondary school teachers in building and enhancing the civic, cultural, and economic well-being of the United States.
Bill HRES 1254May 5, 2026
Expressing the sense of the House of Representatives that public servants should be commended for their dedication and continued service to the United States, including their commitment to defending the Constitution and delivering essential services to United States citizens, and in doing so, supporting the United States economy, during Public Service Recognition Week and throughout the year.
Bill HRES 1253May 5, 2026
A joint resolution disapproving the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering Regulations for Residential Real Estate Transfers".
Bill SJRES 15February 21, 2025