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Issue of Interest: Real Estate Brokerage

ABA Media Contact: Jonathan Snowling
(202) 663-5468                                                                     Last updated: Sept. 29, 2005
E-mail: jsnowlin@aba.com                                             Last reviewed: Sept. 28, 2005

A 1999 law authorized the Federal Reserve and Treasury Department to define permissible activities for financial holding companies. Those agencies have recently proposed allowing banks, to engage in real estate brokerage and management. The banking industry supports this proposal, which will increase competition, provide consumers more choice, and enable banks to round out their services.

Press Releases

• TBD

Background Information and Surveys

• Real Estate Survey
• The Truth About Real Estate Brokerage 
• Backgrounder
• States that Permit Real Estate Brokerage

Letters and Petitions

• Letter to Senate Members Opposing Real Estate Bill from ABA, ACB ICBA, and the Financial Services Roundtable (Dec. 19, 2001)
• Letter to House Members Opposing Real Estate Bill from ABA, ACB ICBA, and the Financial Services Roundtable  (Dec. 19, 2001)
• ABA President's Letter to Bankers (May 15, 2001)
• State Associations Comment Letter to Congress (May 14, 2001)
• ABA Comment Letter to Agencies on Real Estate Brokerage (Apr. 30,2001)
• ABA Memo to House of Representatives (Mar. 16, 2001)
• Joint Memo From ABA, ACB CBA & the Rountable to Congress (Feb.16, 2001)

Testimony

• Testimony of James E Smith (July 24, 2002) pdf
• Testimony, James Smith, President, ABA (May 23, 2002) pdf
• ABA Testimony before the House Judiciary Committee Subcommittee on Commercial and Administrative Law (May 16, 2002) pdf
• ABA Testimony on Real Estate Brokerage (May 2, 2001)
• Conference of State Bank Supervisors chart

Speeches

• ABA President's Speech to Realtors at Inman Real Estate Conference, San Francisco, Calif. (July 24, 2001) pdf