NAR - "Senate Moves to Protect Consumers by Prohibiting Banks from Entering Real Estate Brokerage" (1-31-07)

In a letter circulated earlier in the week, Clinton and Allard explain that allowing banks into the real estate industry would “upend one of our nation’s most fundamental economic policies – the separation of banking and commerce - and put our economy at risk.” The letter also notes that “allowing banks into real estate hurts competition and consumers. It will result in bigger banks, higher costs and less consumer choice and service.”