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Financial Crime - Regulation - lawsuits against US residential real estate rule

MLex Summary: Lawsuits filed by the owner of a title insurance company, and by a property owner and an attorney, say the risk of money laundering through residential real estate is too low to justify a rule issued by the US Treasury Department’s Financial Crimes Enforcement Network requiring certain industry professionals report about certain transfers of residential real estate to a legal entity or trust that don’t require external financing.

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