FinCEN

We are closely monitoring the recent decision by the U.S. District Court for the Eastern District of Texas that vacated the FinCEN Anti-Money Laundering rule. We understand this development creates significant questions for our industry regarding current and future obligations. We will communicate any changes to our procedures as new information becomes available.

Lighthouse Title and affiliated operations have been instructed that collecting information pursuant to the rule, at this time, is optional but preferred. In the event the rule is reinstated in short order, the collection of information now could prevent delays and interruptions in future closings.

Thank you for your patience as we work through this fluid situation. Your cooperation and understanding are greatly appreciated during this period of uncertainty.

Further information on the FinCEN Residential Real Estate Rule, you can visit the FinCEN Website

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Treasury that protects the financial system from criminal abuse, including money laundering and terrorist financing. Its core mission is to promote transparency and integrity across financial institutions.

FinCEN plays a vital role in shaping the regulatory landscape for banks, fintechs, and other financial service providers. By collecting and analyzing financial data, FinCEN helps design and enforce laws that businesses and consumers must follow to reduce the risk and impact of financial crime.

As the primary enforcer of the Bank Secrecy Act and related legislation, FinCEN ensures that institutions remain compliant and vigilant in detecting suspicious activity.

Want to dive deeper into FinCEN? Schedule a continued education class with us to stayed informed!