Industry News

Real estate marches on Washington

Realtors meet Congress, dedicate 'green' office building

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Thousands of Realtors are headed to Congressional offices today to discuss their dislike of federal preemption of state banking regulations, their desire to block banks from providing real estate brokerage services, their belief that the nation needs more affordable housing and their need for small business health insurance plans. The march on Capitol Hill is an annual event as part of the National Association of Realtors' annual midyear governance meetings and trade expo being held in Washington, D.C. this week. One of NAR's top priorities is to urge Congress to use its oversight powers to bridle what NAR called "excessive, overly zealous federal regulators." The Office of the Comptroller of the Currency in February ruled that federal regulations preempted state banking laws, including some that protect borrowers from predatory lending. Jerry Giovaniello, NAR SVP of government affairs, told Realtors in a briefing that Congress needs to limit "activist regulators" who support the ...