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

Senate Joint Resolution

S.J.Res. 15

119th Congress

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

In Committee

Introduced:Feb 5, 2025

Primary Sponsor

Sponsor information unavailable

Cosponsors

0

Quick Stats

Summary

This joint resolution would block a rule created by the Financial Crimes Enforcement Network that requires certain anti-money laundering checks for residential real estate purchases. If passed, the resolution would prevent this rule from taking effect, meaning the new reporting requirements for real estate transactions would not be enforced.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Introduced2/5/2025

StatusRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

ChamberSenate

Data from Congress.gov

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Vote Prediction

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 block a rule created by the Financial Crimes Enforcement Network that requires certain anti-money laundering checks for residential real estate purchases. If passed, the resolution would prevent this rule from taking effect, meaning

Community Breakdown

Pass

0%

Fail

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0 predictions

This joint resolution would block a rule created by the Financial Crimes Enforcement Network that requires certain anti-money laundering checks for residential real estate purchases. If passed, the resolution would prevent this rule from taking effect, meaning the new reporting requirements for real estate transactions would not be enforced.

Bill Number: 15
Introduced: 2/5/2025
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: 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 Number: 15
Sponsor: No sponsor
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced: 2/5/2025
Summary: This joint resolution would block a rule created by the Financial Crimes Enforcement Network that requires certain anti-money laundering checks for residential real estate purchases. If passed, the resolution would prevent this rule from taking effect, meaning the new reporting requirements for real

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This joint resolution would block a rule created by the Financial Crimes Enforcement Network that requires certain anti-money laundering checks for residential real estate purchases. If passed, the resolution would prevent this rule from taking effect, meaning the new reporting requirements for real estate transactions would not be enforced.

Last updated: 3/3/2026

Key Points

Main provisions of the bill

The resolution uses congressional authority to disapprove a federal rule about money laundering regulations in residential real estate sales.
The rule being blocked was published by the Financial Crimes Enforcement Network in August 2024 and aimed to prevent criminals from using home purchases to hide illegal money.
If this resolution passes both chambers of Congress and is signed into law, the anti-money laundering rule would have no legal effect.
The resolution has been referred to the Senate Committee on Banking, Housing, and Urban Affairs for consideration.
This type of resolution is filed under the Congressional Review Act, which allows Congress to overturn recently issued federal regulations.

How This Impacts Americans

Potential effects on citizens and communities

This resolution would primarily affect real estate professionals, title companies, and people buying or selling homes, as they would not be subject to the new anti-money laundering reporting requirements. Law enforcement agencies investigating financial crimes would also be impacted, as they would not receive the additional information about real estate transactions that the rule was designed to provide. The resolution could affect efforts to track and prevent the use of residential real estate purchases for money laundering purposes.

Policy Areas

No policy areas assigned yet.

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

15, 119th Congress (2025). "A joint resolution disapproving the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering Regulations for Residential Real Estate Transfers".". Source: Voter's Right Platform. https://votersright.org/bills/119-sjres-15

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