Realtors Continue to Resist Bank Entry into Real Estate; Forces Align Against House Bill to Authorize Expansion
June 16, 2005
The authors of the Gramm-Leach Bliley Act told current lawmakers this week that the legislation was not designed to prohibit federally-chartered banks from engaging in real estate brokerage and related activities. But at the same time the matter was being debated in the House Financial Services Committee, a House appropriations panel was approving legislation that would again bar the Treasury Department from implementing rules to let banks into the real estate business. …