Regulatory & Compliance Updates: Oct. 16, 2024

FinCEN Renews Real Estate Geographic Targeting Orders
On October 15, the Financial Crimes Enforcement Network (FinCEN) announced the renewal of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in non-financed purchases of residential real estate effective beginning October 16, 2024, and ending on April 14, 2025. 

​America’s Credit Unions Challenges CFPB’s 2022 Exam Manual Update
On October 14, America’s Credit Unions challenged the Consumer Financial Protection Bureau’s (CFPB) 2022 lawsuit over Exam Manual updates which would create substantial burden and costs by filing an amici curae brief with the United States Court of Appeals for the Fifth District.

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