The National Association of Realtors has launched a massive grassroots political push to persuade the U.S. Congress to permanently bar big banks from entering real estate brokerage, leasing and property management. NAR has sent out its largest “Call for Action” e-mail alert to 900,000 of its members asking them to get in touch with their Congressional representatives.

The Senate Banking Committee Chairman Sen. Richard Shelby (R-Ala.) has included language in the Senate Appropriations Committee’s Transportation/Treasury bill that would permanently bar banks from entering the real estate brokerage, leasing and property management businesses.

The bill was reported by the full Senate Appropriations Committee last week and is awaiting Senate floor consideration.

The House also took action on the banks in real estate issue last week and passed its Appropriations bill that includes a one-year prohibition on banks getting into real estate, which is what the industry successfully pushed through the last two years.

Once the Senate passes its bill, the House and Senate versions will have to go to conference committee to work out differences.

NAR is asking Realtors to go to the NAR Action Center for instructions and talking points for letters to Congress.

The NAR also is running ads in inside-the-beltway publications to rally Congress.


Send tips or a Letter to the Editor to or call (510) 658-9252, ext. 133.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription