Bill · S.J.Res. 15· Senate(119-SJRES-15)
A joint resolution disapproving the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering Regulations for Residential Real Estate Transfers".
- Introduced
- 2/5/2025
- Last activity
- 2/5/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Mike Lee
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This is a joint resolution introduced in the Senate. It seeks to disapprove a final rule submitted by the Financial Crimes Enforcement Network. The rule in question is titled ``Anti-Money Laundering Regulations for Residential Real Estate Transfers''. If passed, this resolution would ensure that the rule has no force or effect.
Yes· 3 of 4
Would high-income households be better off under this?+2
Reducing anti-money laundering reporting requirements may decrease the administrative burden on high-value real estate transactions.
Would business owners be better off under this?+2
The resolution eases regulatory requirements for entities involved in real estate transfers.
Would people in cities be better off under this?+1
Removing regulatory hurdles could potentially facilitate real estate movement in urban markets.
The opposite
Does this give people more protection from unfair business practices?-3
By nullifying anti-money laundering regulations for real estate, the resolution reduces oversight intended to protect consumers from illicit financial activities.
Does this make what the government does easier for the public to see?-2
The resolution prevents the implementation of rules designed to increase transparency in residential real estate transfers.
Who it would affect, and how
Potential Positive Impacts for People
- Stopping the rule's implementation: By disapproving the rule, this resolution would prevent the ``Anti-Money Laundering Regulations for Residential Real Estate Transfers'' from having any force or effect.
Potential Negative Impacts for People
- No information provided: The text provided does not contain details regarding the specific contents or requirements of the Financial Crimes Enforcement Network's rule, so the potential negative impacts of stopping it cannot be determined from this text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+2Good For High Income Households+2Good For Urban Residents+1
- Economy And Finance
- Improves Consumer Protection-3
- Governance And Ideology
- Improves Government Transparency-2
- Social Issues And Justice
- Improves Affordable Housing+1
- 2/5/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Introduced in Senate
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.