September 18, 2025

In This Issue:

FedNow Will Raise Transaction Limit to $10 Million Effective Nov. 1
ICYMI: FTC Abandons Non-Compete Rule and Simultaneously Initiates Targeted FTC Noncompete Enforcement Action
New Seller Impersonation Fraud Law Pursued by TLTA Will Be Effective Jan. 1, 2026. New Law Barring Certain Foreign Nationals From Buying Land Went Into Effect Sept. 1.
TDI Compliance Reminder: Agent's TS-1 Due by Sept. 30

FedNow Will Raise Transaction Limit to $10 Million Effective Nov. 1

Federal Reserve | Sept. 16, 2025

Federal Reserve Financial Services (FRFS) will increase the FedNow Service network transaction limit from $1 million to $10 million in response to growing commercial demand, effective November 2025. The increased limit will enable financial institutions and businesses to support higher-value use cases and reflects an increasing need for speed and certainty in the modern payments ecosystem.

Learn more »

ICYMI: FTC Abandons Non-Compete Rule and Simultaneously Initiates Targeted FTC Noncompete Enforcement Action

National Law Review | Sept. 10, 2025

On September 4, 2025, the FTC announced an enforcement action and proposed settlement with Gateway Pet Memorial Services (the “Company”), a pet cremation company, over the Company’s overuse of post-employment non-competes with certain terms it found concerning. At nearly the same time, the FTC withdrew its appeals pending in the Fifth and Eleventh Circuits of district court rulings issued last year, which enjoined the FTC from enforcing its final rule banning most non-competes nationwide.

In an accompanying statement, Chair Andrew Ferguson, joined by Commissioner Melissa Holyoak, emphasized their dissent to the non-compete final rule (issued by the FTC during the previous administration), and signaled that, going forward, the FTC will step away from broad rulemaking in this area and instead pursue a “steady stream” of enforcement actions to define, case by case, the boundaries of lawful non-compete agreements under the FTC Act and the Sherman Act.

This enforcement action and the FTC’s decision to withdraw its appeals of the lower court rulings enjoining its non-compete final rule reflect a shift from broad rulemaking to a case-by-case enforcement approach to delineate the boundaries of lawful versus unlawful non-compete agreements.

Read more »

New Seller Impersonation Fraud Bill Pursued by TLTA Will Be Effective Jan. 1, 2026. New Law Barring Certain Foreign Nationals From Buying Land Went Into Effect Sept. 1.

TLTA | Sept. 18, 2025

Seller Impersonation Fraud Law Pursued by TLTA Will Be Effective Jan 1, 2026.

Among the bills approved by lawmakers before the second special session concluded earlier this month is SB 16, which was expanded to create a new, specific offense for seller impersonation fraud.

In recent years, seller impersonation fraud has plagued the title industry and resulted in claims including full policy loses. We extend our industry's sincerest gratitude to SB 16's author, Sen. West, along with his senate coauthors and the bill's House sponsors, including Rep. Dyson. Their leadership on this important new criminal statute that TLTA advocated for will encourage prosecution of seller impersonation fraud and ultimately help stop this growing threat.

SB 16 has been signed by Gov. Abbott and will be effective Jan. 1, 2026.

Foreign Ownership Law Effective Sept. 1

Senate Bill 17, which prohibits people, companies and government-linked entities from China, Iran, North Korea and Russia from acquiring most types of real estate in Texas, became law Sept. 1. This new law is the result of a multi-session conversation among lawmakers on how to address the politically volatile topic of foreign ownership of U.S. land.

TLTA's Advocacy Team is grateful to report that we successfully worked with legislators to include in the new law these title industry protections:

No policing by title agents
Notice in Real Property Records
“Savings Clause” to preserve title

Learn more in TLTA's 89th Regular Session Report »

Contentious Second Special Session Concluded Earlier This Month

The 89th Texas Legislature's second special session, 89(2), ended earlier this month. Congressional redistricting and camp safety were among the bills that passed, but the much debated property tax reform proposal, SB 10, died after the House and Senate could not reach agreement on the terms for limiting growth of local government property tax collections year over year. We expect to see this issue revived in a future session.

Compliance Reminder: Agent's TS-1 Due by Sept. 30

TLTA | Sept. 1, 2025

Form T-S1, Title Agent's Unencumbered Assets Certification, must be submitted annually to TDI between Sept. 1 and Sept. 30 of each year.

Please submit your TS-1 by Monday, Sept. 30 to [email protected]