MBA Coalition Letter on New Final Rule on FinCEN Reporting Extension
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The listed organizations and companies identified above write to advise of significant concerns regarding the application of the new Final Rule (89 Fed. Reg. 70,258) to non judicial foreclosure sales, mandating substantial new information collection and reporting and imposing significant new legal liability on small businesses nationwide. Given the final form for the report was only released in December, our coalition will undoubtedly continue to share feedback as companies think through the implications of these new regulations.
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