Thank you for sharing!

Your article was successfully shared with the contacts you provided.

<p>WASHINGTON – A few days before Congress adjourned for the Christmas holiday, Sen. Wayne Allard (R-Colo.), a member of the Senate Banking Committee, introduced Senate Bill 1839 that would block amend the Bank Holding Company Act of 1956 and block financial holding companies and national banks from participating in real estate brokerage or management activities. Sen. Richard Shelby (R-Ala.), also a member of the Senate Banking Committee, along with Sens. Russ Feingold (D-Wis.) and Hillary Rodham Clinton (D-N.Y.) co-sponsored the measure. S.B. 1839 is linked to House Bill 3424 – Community Choice in Real Estate Act of 2001 – that was introduced by Reps. Paul Kanjorski (D-Pa.) and Steve LaTourette (R-Ohio), both members of the House Financial Services Committee, and Ken Calvert (R-Calif.), and The Federal Reserve Board and the Treasury wrote the proposed rule as part of the Gramm-Leach-Bliley Act. Supporters of the bills argue that Congress never intended to allow banks to participate in real estate services. – [email protected]</p>

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.