FinCEN anti-money laundering rule struck down in court

A federal judge in Texas has vacated FinCEN’s nationwide anti-money laundering rule that required title insurance companies to report details of residential real estate transactions involving entities or trusts. The decision, which reverses a regulation implemented in March, highlights limitations on government agencies' authority to mandate broad reporting requirements and underscores the ongoing debate between regulatory bodies and industry groups over effective anti-money laundering measures.

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