Federal Court in Texas Vacates New FinCEN Anti-Money Laundering Rule. We expect that order will likely be appealed. What happened? On March 19th a federal district court in Texas vacated FinCEN’s Residential Real Estate Anti-Money Laundering rule. This is the third lawsuit that sought to have the rule overturned. FinCEN prevailed in the two other …
At John Bethell Title, we often adapt to last-minute changes and still ensure your closing occurs on time. Beginning March 1, complying with new FinCEN anti-money laundering requirements may make some previously routine last-minute changes delay closings. Under the FinCEN rules, a reportable transaction is a cash sale in which the buyer is an entity, …
Beginning March 1, 2026, title companies must collect and report identity and banking information about buyers and sellers to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) when entities and trusts buy one- to four-family residential properties without traditional financing. Transactions where an entity buyer uses a non-traditional lender are also reportable. These new …
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