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Jurisdictional Updates 12-09-21

Federal – Proposed Rulemaking under the Bank Secrecy Act

The Department of the Treasury Financial Crimes Enforcement Network (FinCEN) issued advance notice of proposed rulemaking on potential requirements under the Bank Secrecy Act for persons involved in real estate transactions to collect, report and retain information. 

FinCEN, Advance notice of proposed rulemaking, RIN 1506-AB54