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S. 98 · 108th Congress

Community Choice in Real Estate Act of 2003

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

WAR AllardSponsor
27 cosponsors · 13 D, 14 R

Community Choice in Real Estate Act of 2003 - 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…

What it does: CRS summary · Introduced in Senate · Jan 7, 2003
Community Choice in Real Estate Act of 2003 - 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.)

Exempts from such prohibition activities of a bank holding company (or any affiliate) that directly relate to managing any real property owned by national banks or their affiliates.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Community Choice in Real Estate Act of 2003

Latest action (Jan 7, 2003): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR 1/09/2003 S152)

Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jan 7, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.