PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Feb 12, 2025
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.
People & committees
Rep. Clyde, Andrew S. [R-GA-9] · R–GA
Legislative record
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Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
Source last updated: Dec 6, 2025. Consult Congress.gov for the current record.
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PlainBill explanation
Based on the full Introduced in House · 2025-02-12 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
This joint resolution proposes to cancel a federal rule addressing money laundering in residential real estate transfers. If enacted, it would make that rule legally ineffective. The supplied text does not describe the rule’s requirements or identify which people or businesses must comply.
That Congress disapproves the rule submitted by the Financial Crimes Enforcement Network relating to Anti-Money Laundering Regulations for Residential Real Estate Transfers (89 Fed. Reg. 70258 (August 29, 2024)), and such rule shall have no force or effect.
The proposed disapproval specifically targets the Financial Crimes Enforcement Network rule published in the Federal Register on August 29, 2024, at volume 89, page 70258. The resolution would give that rule “no force or effect.”
the rule submitted by the Financial Crimes Enforcement Network relating to Anti-Money Laundering Regulations for Residential Real Estate Transfers (89 Fed. Reg. 70258 (August 29, 2024)), and such rule shall have no force or effect.
The supplied actions snapshot, updated December 6, 2025, records introduction in the House and referral to the House Committee on Financial Services on February 12, 2025.
Source snapshot updated 2025-12-06T06:59:02Z. 2025-02-12: Referred to the House Committee on Financial Services. 2025-02-12: Introduced in House
A closer look
Reviewed version: Introduced in House · 2025-02-12. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision or policy attached to appropriations was identified in the complete supplied introduced text. This conclusion is limited to that version.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for particular recipients or places was identified in the complete supplied introduced text. This conclusion does not establish what other versions or accompanying materials contain.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
None identified in the reviewed text
No materially narrow carve-out, special exemption, or preferential treatment was identified in the complete supplied introduced text. This conclusion is limited to that version; the underlying rule is not supplied.
Full text preserved for this analysis. Legislative record snapshot: Dec 6, 2025. How PlainBill uses AI