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HJRES. 55 · 119th Congress

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".

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Bill details

Introduced: 2/12/2025
Status: Referred to the House Committee on Financial Services.
Bill ID: 119hjres55
Latest action: Referred to the House Committee on Financial Services.

Summary

Introduced in House

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.

Source: BILLSUM · Summary date: 2/12/2025

District impact notes

1 notes
NEUTRAL
3/16/2026

This bill seeks to nullify a rule that requires reporting of cash transfers in residential real estate transactions to combat money laundering. • Changes to this reporting requirement could affect local real estate practices and the transparency of financial transactions. • Local real estate professionals and buyers may experience shifts in how transactions are conducted if the rule is nullified. • There may be concerns about balancing the need for financial transparency with the potential burden on individuals and businesses involved in real estate transactions. AI-generated from official bill summary and plain-English note; verify with official text.

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Summary source label: BILLSUM
Congress.gov bill →GovInfo bill text (BILLS) →GovInfo summaries (BILLSUM) →OurCongress methodology →
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About this data

Non-partisan by design
OurCongress provides plain-English context without endorsements, political interpretation, or advocacy.
Official sources
Data is sourced from official government records (e.g., Congress.gov, GovInfo, Clerk of the House, and the U.S. Senate).
AI-generated text
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Last updated: 3/16/2026Source: BILLSUMBill: 119hjres55Learn more →