Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This resolution uses the Congressional Review Act to overturn a federal agency rule. If both houses approve the joint resolution and the President signs it (or Congress overrides a veto), the named FinCEN rule is nullified and has no force. The act also bars the agency from issuing a new rule that is substantially the same unless Congress passes new law authorizing it. CRA disapproval must be done within a limited time after the agency submitted the rule to Congress.
Anti-Money Laundering Regulations for Residential Real Estate Transfers (89 Fed. Reg. 70258, August 29, 2024).
Financial Crimes Enforcement Network (FinCEN)
Under the Congressional Review Act, disapproval joint resolutions are handled under expedited procedures in the Senate that prevent filibusters and allow passage by a simple majority; the resolution still requires the President's signature or a veto override to become law.
This joint resolution would disapprove and nullify the Financial Crimes Enforcement Network (FinCEN) final rule titled "Anti‑Money Laundering Regulations for Residential Real Estate Transfers" (89 Fed.
Reg. 70258, Aug. 29, 2024).
If enacted, the rule would be declared to have no force or effect.
Narrow and administratively simple, which helps; nevertheless requires both chambers and executive approval, and is politically charged as a regulatory rollback.
Relative to its intended legislative type, this bill is a concise, technically clear Congressional Review Act–style disapproval that accomplishes its immediate legal purpose with minimal text.
Progressives emphasize AML and anti‑corruption benefits of the rule.
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives emphasize AML and anti‑corruption benefits of the rule.
Likely opposes the resolution because the FinCEN rule is intended to reduce money laundering and illicit finance through residential real estate.
Views the resolution as rolling back federal anti‑corruption and transparency measures that protect public integrity and national security.
Views the underlying AML goal as reasonable but has pragmatic concerns about implementation, scope, and compliance costs.
Prefers modifying or clarifying the rule rather than blanket disapproval, seeking a balance between enforcement and minimizing burdens on legitimate transactions.
Likely supports the resolution as a necessary check on federal overreach and regulatory burden.
Sees the FinCEN rule as an expansive, intrusive regulation that interferes with private property transactions and state roles in real estate.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow and administratively simple, which helps; nevertheless requires both chambers and executive approval, and is politically charged as a regulatory rollback.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize AML and anti‑corruption benefits of the rule.
Narrow and administratively simple, which helps; nevertheless requires both chambers and executive approval, and is politically charged as…
Relative to its intended legislative type, this bill is a concise, technically clear Congressional Review Act–style disapproval that accomplishes its immediate legal purpose with minimal text.
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.