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H.R. 111 · 111th Congress

Community Choice in Real Estate Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

PKD KanjorskiSponsor
92 cosponsors · 59 D, 33 R
HBD Berman HBR Brown TBD Bishop MBD Bordallo KCR Calvert JCR Culberson RCD Carnahan ECD Cleaver PDD DeFazio JDD Dingell LDD Doggett CED Edwards EED Engel RGD Grijalva AGD Green RHD Hinojosa THD Holden RHD Holt BHD Higgins EJD Johnson SKD Kagen SLD Levin JLD Lewis DLD Lipinski DLR Lamborn JMR McHugh GMD Meeks JMD Matheson TMR McCotter MMD Michaud JOD Olver FPD Pallone BPD Pascrell RPR Paul TPR Poe SRD Rothman PRR Roskam JSD Schakowsky ASD Schwartz JTD Tierney LWD Woolsey DWD Wu KBR Brady JCD Courtney DKD Kucinich CMR Miller CSR Smith JAD Altmire BBR Bilbray DBR Burton BBD Braley DCD Cardoza RFR Frelinghuysen EGR Gallegly KGR Granger DKD Kildee PMD Murphy JPR Pitts PWD Welch PHD Hodes SOD Ortiz BFD Foster JKR Kingston MMR McCaul HSD Shuler BSD Sutton DHD Halvorson CMR McMorris Rodgers DNR Nunes JWR Wilson JAD Adler JGR Gresham Barrett MHD Hinchey SJD Jackson Lee KMR Marchant RAD Andrews FLR LoBiondo PTD Tonko LLR Lance JMD Murtha DPD Payne MAD Arcuri CLR Lee EMD Massa ASD Sires BCR Cassidy HWD Waxman MRR Rogers MSR Souder FWR Wolf MTR Turner CMD Murphy

42 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

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…

What it does: CRS summary · Introduced in House · Jan 6, 2009

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.)

Exempts from such prohibition: (1) activities of a bank holding company (or any affiliate) that directly relate to managing any real property owned by national banks or their affiliates; and (2) the right, power, or ability of any financial holding company to engage in any activity, or acquire or retain the shares of any company engaged in an activity authorized for financial holding companies on December 6, 2001 ("grandfather clause").

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

Latest action (Jan 6, 2009): Referred to the House Committee on Financial Services.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Jan 6, 2009

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

No recorded floor vote found.