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aid press release – contact the distributor directly with any inquiries.
/PRNewswire/ – The American Land Title Association (ALTA) issued a statement following FinCEN’s announcement that it will delay the reporting requirements of the Anti‑Money Laundering Regulations for Residential Real Estate Transfers Rule.
“FinCEN’s postponement acknowledges the legitimate concerns raised by ALTA members and Congress regarding implementation,” said ALTA CEO Chris Morton. “The rule imposes enormous financial and compliance burdens on the small businesses that make up 90 % of the title insurance sector. This delay gives ALTA additional time to collaborate with FinCEN to revise the costly rule that heavily impacts title companies.”
About ALTA
Founded in 1907, ALTA is a national trade association representing more than 6,000 title insurance companies, title and settlement agents, independent abstracters, title searchers, and real‑estate attorneys.
Contact: Megan Hernandez
Office: 202‑261‑0315
Email: [email protected]
View the original release and download multimedia: https://www.prnewswire.com/news-releases/alta-commends-fincens-postponement-of-residential-real-estate-transfer-rule-302571691.html
