Bill · H.J.Res. 55· House(119-HJRES-55)
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".
- Introduced
- 2/12/2025
- Last activity
- 2/12/2025 — Referred to the House Committee on Financial Services.
- Sponsored by
- Andrew Clyde
- Cosponsors
- - 1 - 0
- Introduced
- In Committee
What this bill would do
This joint resolution aims to overturn a specific rule from the Financial Crimes Enforcement Network. The rule in question involves "Anti-Money Laundering Regulations for Residential Real Estate Transfers." By passing this resolution, Congress would express its disapproval of that rule. If approved, the rule would have no force or effect.
Yes
Would people with substantial wealth be better off under this?+3
The removal of these regulations reduces the reporting requirements often associated with high-value property acquisitions.
The opposite
Does this give people more protection from unfair business practices?-4
The resolution removes anti-money laundering regulations intended to increase transparency in residential real estate transfers.
Does this make what the government does easier for the public to see?-3
The resolution strikes down a rule designed to increase the transparency of high-value residential real estate transactions.
Does this make housing cost less?-1
The removal of oversight in real estate transfers may reduce the transparency required to address housing market inequities.
Who it would affect, and how
Potential Positive Impacts for People
- Elimination of the Rule: If this resolution passes, the "Anti-Money Laundering Regulations for Residential Real Estate Transfers" would have no force or effect, which would remove the regulations established in 89 Fed. Reg. 70258.
Potential Negative Impacts for People
- No information provided: The provided text does not contain details regarding the specific content of the rule or the potential negative consequences of its removal.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Improves Consumer Protection-4
- Demographic And Interest Groups
- Good For High Net Worth Individuals+3
- Governance And Ideology
- Improves Government Transparency-3
- Social Issues And Justice
- Improves Affordable Housing-1
- 9/9/2025
- 1 Cosponsor added.
- 2/12/2025
- Referred to the House Committee on Financial Services.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Pete SessionsRepublican · Texas