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After much thought and preparation, we are excited to announce a joint response letter to FinCEN’s Proposed Rulemaking on Anti-Money Laundering - Request for Comment. The letter outlines our concerns and objections to the proposed regulations and emphasizes the potential impact on our members and the industry as a whole. We will continue to monitor the developments related to FinCEN’s Proposed Rulemaking and keep you informed of any updates or actions taken on our behalf.
We want to send a heartfelt thank you to Mike Belote, Cliff Costa, Matt Davis, Steve Garcia, Rose Pothier, Jennifer Felten, Ben Griffin, Debi Peters, Juliana Tu, CEA Executive Committee and EIC Executive Board (and other EIC members). We also want to send a special shout out to Nancy Silberberg for leading the charge.
We encourage our individual members to reach out to your congressional representatives and advise them that we oppose the FinCEN Proposed Rulemaking on Anti-Money Laundering Regulations which can be found on Docket No. FinCEN-2024-005 RIN 1506–AB54, 89 Federal Register 12424 of February 16, 2024. Let them know Escrow Holders/Settlement Agents SHOULD NOT be the reporting party!
Our individual voices are important!
Mickey Vandenberg, President, California Escrow Association
PJ Garcia, President, Escrow Institute of California
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