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S. 98 108th Congress Senate

Community Choice in Real Estate Act of 2003

Official title: A bill to amend the Bank Holding Company Act of 1956, and the Revised Statutes of the United States, to prohibit financial holding companies and national banks… Show full official titleShow less

Official title: A bill to amend the Bank Holding Company Act of 1956, and the Revised Statutes of the United States, to prohibit financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities, and for other purposes.

Introduced: February 24, 2004 See on congress.gov
Finance and Financial Sector Bank holding companiesCommerceHousing and Community DevelopmentReal estate businessSubsidiary corporations
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 7, 2003
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR 1/09/2003 S152)
Jan 7, 2003
Sponsor introductory remarks on measure. (CR 1/9/2003 S151-152)
Jan 7, 2003
Introduced in Senate
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 Latest action January 7, 2003

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR 1/09/2003 S152)

 Plain-English summary Congressional Research Service
Community Choice in Real Estate Act of 2003 - 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 activities of a bank holding company (or any affiliate) that directly relate to managing any real property owned by national banks or their affiliates.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Durbin, Richard J.
Illinois · Feb 24, 2004
Cite this page click to expand
APA
U.S. Congress. (2026). S. 98: Community Choice in Real Estate Act of 2003. 108th Congress. Open America. https://openamerica.io/bill/108-S-98/
MLA
"S. 98: Community Choice in Real Estate Act of 2003." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-S-98/.
Bluebook (legal)
S. 98, 108th Cong. (2026), https://openamerica.io/bill/108-S-98/.
Markdown link
[S. 98: Community Choice in Real Estate Act of 2003](https://openamerica.io/bill/108-S-98/)
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