NAR Applauds Clinton-Allard Community Choice Bill

Published: January 31, 2007

<table width="507"><tbody><tr><td class="itemheader"><span style="FONT-WEIGHT: 900; FONT-SIZE: 14px; MARGIN-BOTTOM: 3px; PADDING-BOTTOM: 3px; COLOR: #003399; PADDING-TOP: 3px; FONT-FAMILY: Arial, Helvetica, sans-serif"><b></b></span></td></tr><!– Story –><tr><td class="blacktext" width="500">President Pat Vredevoogd Combs praised Senators Hillary Rodham Clinton (D- N.Y.) and Wayne Allard (R-Colo.) for introducing legislation that NAR believes would ensure that the nation's real estate industry remains competitive. The Community Choice in Real Estate Act, S.413, is cosponsored by senators on both sides of the aisle. In a letter circulated about the bill, Clinton and Allard explain that allowing banks into the real estate industry would &quot;upend one of our nation's most fundamental economic policies, the separation of banking and commerce, and put our economy at risk.&quot; The letter also notes that &quot;allowing banks into real estate hurts competition and consumers. It will result in bigger banks, higher costs, and less consumer choice and service.&quot; Earlier in January, Rep. Paul Kanjorski (D-Pa.) and Ken Calvert (R-Calif.) introduced the House version, H.R. 111. More than 100 House lawmakers are now cosponsors. </td></tr></tbody></table>

Last modified: January 31, 2007 at 2:42 pm | Originally published: January 31, 2007 at 2:42 pm
Printed: September 29, 2020