U.S. Department of Homeland Security Launches “Be Your REAL ID Self” Public Awareness Campaign

U.S. Department of Homeland Security Launches “Be Your REAL ID Self” Public Awareness Campaign | site |


(Information contained in U.S. Department of Homeland Security [DHS] press release dated: January 15, 2021) Washington, D.C. – The Department of Homeland Security (DHS) has begun a new nationwide public awareness campaign, “Be Your REAL ID Self” to promote awareness of the REAL ID requirements and encourage the public to act before the October 1, 2021 full enforcement deadline. Just over 8 months remain until the October 1, 2021 REAL ID full enforcement deadline goes into effect at all federally regulated airports, federal facilities, and nuclear power plants. The Department continues to urge Americans to obtain a REAL ID-compliant card or acceptable alternative, such as a U.S. passport or passport card prior to the October 1, 2021 enforcement deadline. Passed by Congress in 2005 following a 9/11 Commission recommendation, the REAL ID A...

U.S. Department of Homeland Security Modernizes Critical Identification Requirements after Congress Passes REAL ID Modernization Act | site |



(Information contained in U.S. Department of Homeland Security [DHS] press release: December 28, 2020)

As a result of extensive state, industry, and government collaboration, Congress has passed the bipartisan REAL ID Modernization Act. The Act modernizes REAL ID requirements originally set more than 15 years ago.

“This new law marks another important step toward meeting the 9/11 Commission’s recommendations to close dangerous vulnerabilities to terrorist travel and fraud,” said Acting Secretary of Homeland Security Chad F. Wolf. “With this authority, the Department can help states better streamline the identity document issuance process before the October 1, 2021 enforcement deadline.”

After DHS issues implementing regulations as necessary, states may:

• Accept

...

The Treasury Department and IRS issue Final Regulations regarding Like-kind Exchanges of Real Property | site |


(Information contained in U.S. Internal Revenue Service [IRS] press release: November 23, 2020)

WASHINGTON – Today the Treasury Department and Internal Revenue Service issued final regulations relating to section 1031 like-kind exchanges. These final regulations address the definition of real property under section 1031 and also provide a rule addressing the receipt of personal property that is incidental to real property received in a like-kind exchange. The 2017 Tax Cuts and Jobs Act (TCJA) limited like-kind exchange treatment to exchanges of real property. As of January 1, 2018, exchanges of personal or intangible property such as vehicles, artwork, collectibles, patents, and other intellectual property generally do not qualify for nonrecognition of gain as like-kind exchanges. Also, like-kind exchange treatment applies only to exchange...

National Institutes of Health says Scientists Monitored Brains Replaying Memories in Real Time| site |



NIH says study suggests our brains use distinct firing patterns to store and replay memories.



(March 5, 2020) - - Today, the National Institutes of Health (NIH) published the following information:

In a study of epilepsy patients, researchers at the National Institutes of Health monitored the electrical activity of thousands of individual brain cells, called neurons, as patients took memory tests. They found that the firing patterns of the cells that occurred when patients learned a word pair were replayed fractions of a second before they successfully remembered the pair. The study was part of an NIH Clinical Center trial for patients with drug-resistant epilepsy whose seizures cannot be controlled with drugs. “Memory plays a crucial role in our lives. Just as musical notes are recorded as grooves on a record, it ...

U.S. Department of Homeland Security Steps Up REAL ID Education and Awareness Efforts| site |



(January 24, 2020) - - Today (January 24, 2020), the U.S. Department of Homeland Security published the following information: WASHINGTON, D.C.- The U.S. Department of Homeland Security (DHS) recently sent letters to the Governors of all states, the District of Columbia, and territories asking them to provide DHS with a monthly update of the number of REAL IDs issued by their jurisdictions. The states now report to DHS that they have collectively issued more than 95 million REAL ID-compliant driver’s licenses and ID cards (34%) out of 276 million total cards. While this is a noteworthy improvement over the 67 million REAL ID-compliant cards (27%) out of a total 249 million total cards previously reported in the fall, DHS urges the American public to get a REAL ID immediately and not wait until the deadline. Importantly, the Department has been increasing its ove...

Agencies issue Final Rule to Exempt Residential Real Estate Transactions of $400,000 or Less from Appraisal Requirements| site |


Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency (September 27, 2019) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have adopted a final rule that increases the threshold for residential real estate transactions requiring an appraisal from $250,000 to $400,000. The appraisal threshold was last changed in 1994. Given price appreciation in residential real estate transactions since that time, the change will provide burden relief without posing a threat to the safety and soundness of financial institutions. For transactions exempted from the appraisal requirement, the final rule requir...

Federal Trade Commission and Department of Justice to Hold Workshop on Competition in Real Estate Brokerage

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(April 5, 2018) - - The Federal Trade Commission and Department of Justice announced today that they will hold a joint public workshop in Washington, DC on June 5, 2018, to explore competition issues in the residential real estate brokerage industry.

Buying or selling a home is one of the biggest financial transactions most consumers make in their lives, and the residential real estate brokerage industry has seen significant change in recent years, including the emergence of new business models. The workshop will focus on developments since the publication of the FTC and DOJ’s Report on Competition in the Real Estate Brokerage Industry in 2007. Topics to be discussed include:

• existing and emerging consumer-facing platforms for accessing listings informat

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Federal Banking Agencies Issue Final Rule to Exempt Commercial Real Estate Transactions of $500,000 or Less from Appraisal Requirements

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Washington, DC - - (April 2, 2018) - - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule that increases the threshold for commercial real estate transactions requiring an appraisal from $250,000 to $500,000. The agencies originally proposed to raise the threshold, which has been in place since 1994, to $400,000, but determined that a $500,000 threshold will materially reduce regulatory burden and the number of transactions that require an appraisal. The agencies also determined that the increased threshold will not pose a threat to the safety and soundness of financial institutions. The final rule allows a financial institution to use an e...