"The rule requires title firms to report specific details on all-cash home purchase transactions. These include the names, addresses, dates of birth, citizenship status and ID numbers of all people involved including minors, payment details and information about trusts and entities that are purchasing the property. In its most recent filing, FNF claims the FinCEN's rule treats an estimated 800,000 to 850,000 lawful, non-financed home sales each year as suspicious' and relevant to a possible violation of law,'"
"FNF argues that the magistrate judge's report erred in all of its evaluations of the firm's claims, including the claims that FinCEN lacks statutory authority to impose this rule and that the report wrongly allows a rule whose costs outweigh its benefits. FinCEN had choices. It could have targeted actual indicia of criminality, such as transactions involving felons. It could have asked Congress to expand the geographic and temporal limits on GTOs, the filing states."
FNF filed a lawsuit in May 2025 naming FinCEN director Andrea Gacki and Treasury Secretary Scott Bessent as defendants, challenging a FinCEN rule requiring title firms to report extensive data on all-cash home purchases. The rule mandates names, addresses, dates of birth, citizenship status, ID numbers including minors, payment details, and trust and entity information. FNF asserts the rule treats an estimated 800,000–850,000 lawful, non-financed sales annually as suspicious and compels reporting of over one hundred data points per transaction at an estimated $500 million annual cost without demonstrated benefit. FNF contends the rule is arbitrary, exceeds statutory authority, and violates the major questions doctrine.
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