The Washington Report covers legislative and regulatory policy activities, and is compiled by NAR's Advocacy Group policy staff. To receive this content via email, subscribe to NAR's Member's Edge newsletter.
The Financial Crimes Enforcement Network (FinCEN), an agency within the U.S. Treasury charged with combatting money laundering and financing of terrorism, has renewed the Geographic Targeting Orders (GTOs) that impose data collection and reporting requirements on title companies involved in certain residential real estate transactions, effective November 12, 2019, through May 9, 2020.
NAR continues to be one of the most vocal supporters of the Department of Labor rulemaking that expanded access to association health plans (AHPs) for independent contractors.
BIG WIN!! NAR expressed concerns to the FHA about HUD’s policies regarding commissions and the conflict with NAR MLS policy. Changes are coming December 1.
The Association Health Plans Toolkit has been updated to include data from the 2019 Health Insurance Survey and model legislation that may serve as a template for building united state legislative efforts to codify provisions enabling independent contractors to join AHPs.
The “Terrorism Risk Insurance Program Reauthorization Act of 2019,” approved by the House Financial Services Committee, would reauthorize the Terrorism Risk Insurance Program (TRIP) for seven years.
The anti-money laundering (AML) legislation is designed to stop the formation of anonymous shell companies created under state law that are often used by bad actors to launder money or to commit other illicit financial crimes.
NAR published a joint op-ed to counter a growing narrative that the Federal government has expanded its exposure to risky mortgages.
CFPB Director Kraninger provided her semi-annual report to Congress to discuss current updates and developments at the Bureau. She also provided some insight on the qualified mortgage (QM) patch, stating that the Bureau is working on a plan as the transition to end the QM patch is forthcoming.
The Terrorism Risk Insurance Program (TRIP) expires at the end of 2020 unless Congress reauthorizes it.
The DC Circuit Court of Appeals upheld the FCC’s decision but found that the FCC had overstepped its authority when it banned states from enacting their own net neutrality rules.