The rollout of FinCEN's residential real estate reporting rule raised significant questions for the title industry, including new compliance obligations, expanded reporting requirements, and concerns about federal regulatory authority. In this session, attendees will hear directly from the attorney who represented Flowers Title Company in its successful legal challenge to the rule and gain insight into the court's reasoning for setting it aside. The discussion explores the legal arguments presented by both sides, the role of the Bank Secrecy Act and suspicious activity reporting requirements, and how the ruling compares to similar litigation brought elsewhere in the country. Beyond the courtroom, the session examines what these developments mean for title companies, escrow operations, and the future of federal reporting requirements affecting real estate transactions. Whether you're focused on compliance, operations, or industry advocacy, this session provides valuable context for one of the most significant regulatory developments affecting the title industry.
Key takeaways include:
- Understanding FinCEN's residential real estate reporting rule and its requirements
- Examining the legal arguments that led to the Flowers Title decision
- Comparing the Texas ruling to similar litigation in other jurisdictions
- Exploring the relationship between the Bank Secrecy Act, suspicious activity reporting, and real estate transactions
- Assessing the potential impact of future federal reporting and compliance requirements
Presenter:
Luke Wake, Pacific Legal Foundation
Moderator:
Leslie S. Johnson, CTIP, WFG National Title Insurance Company
Pricing:
Member: $45
Nonmember: $65
CE Credit:
1.0 Hour Escrow Credit
Intermediate level – For those with some experience on the topic and/or the title industry. May include real-world application and/or specific and detailed information.
Per Procedural Rule P-28 II I-6, TDI will not award CE credit for completing the same course more than once during a reporting period.
The information in this course is provided by TLTA for educational and reference purposes only and should not be considered legal, financial, or business advice. Users should consult their own legal counsel and subject-matter experts to ensure that any policies adopted or actions taken meet the requirements unique to their company.
Legal information provides public information, such as rules or laws, or an explanation of those laws. It is not legal advice. Legal advice recommends a specific course of action or interprets the law based on particular facts. For legal advice, please consult your attorney.