FinCEN defends anti-money laundering rule in FNF lawsuit
FNF challenges FinCEN's residential real estate cash-transaction reporting rule as arbitrary and harmful, while defendants assert statutory authority and reasoned rulemaking.
Judge backs FinCEN real estate AML rule in FNF lawsuit
A magistrate judge found FinCEN's rule requiring detailed reporting on all-cash home purchases lawful under the Bank Secrecy Act, citing law-enforcement benefits over compliance costs.
FinCEN anti-money laundering rule struck down in court
The court vacated FinCEN's rule on reporting cash real estate transactions, restoring previous regulations and eliminating compliance burdens for the industry.
