1Feb/100
New Bill to Keep Banks out of Real Estate – Real Estate
New Bill to Keep Banks out of Real Estate
Sid Cameron
This week Congress introduced a bill titled, "Community Choice in Real Estate Act," to permanently ban banking conglomerates from entering real estate brokerage or property management. This is because some of the larger banking conglomerates have requested permission from the Federal Reserve Board to sell and manage real estate. Pretty much every major organization in the real estate industry is backing the bill against banks in real estate.
To be honest, the name of the bill sounded a bit Orwellian to me. My first thought is,