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, …
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