Last month, we shared a new reporting requirement for closing attorneys – Financial Crime Enforcement Network’s (FinCEN) money laundering prevention rule. As of March 19th, this rule is no longer in effect. A federal district court in Texas vacated Residential Real Estate Anti‑Money Laundering (AML) Rule. Attorney Mike Shepard believes that we may hear more about this in the future, but as of right now, local attorneys have one less new statutory requirement to contend with at closings. We will continue to keep you posted on any new developments.

