H.R. 111, The Community Choice in Real Estate Act
- This item is from the 111th Congress (2009-2010) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
Version saved on March 4, 2009, 19:34:30, by webmaster:
H.R. 111 would amend the Bank Holding Company Act of 1956 and the Revised Statutes of the United States to prohibit financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities.
Detailed Summary
Community Choice in Real Estate Act - Amends the Bank Holding Company Act of 1956 and the Revised Statutes of the United States to prohibit the Board of Governors of the Federal Reserve System and the Secretary of the Treasury, respectively, from determining that real estate brokerage activity or real estate management activity is financial in nature, is incidental to any financial activity, or is complementary to a financial activity. (In effect, prohibits financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities.)
Status of the Legislation
Latest Major Action: 1/6/2009: Referred to House committee. Status: Referred to the House Committee on Financial Services.
Points in Favor
(Log in to edit the wiki and be the first to show why the bill should pass!)
Points Against
(Log in to edit the wiki and be the first to show why the bill should not pass!)
Cost per :
Learn More
RSS Feeds for This Bill
Keep yourself updated on user contributions and debates about this bill! (Learn more about RSS.)
Visitor Comments
nmg
October 21, 2009, 10:39pm (report abuse)I would like to buy a foreclosed house directly from a bank without non-productive intermediaries like realtors. I would like to avoid paying hefty commissions for services I don't want or need.