NU Online News Service, Feb. 19, 2004, 2:39 p.m. EST – Real estate agents are asking the government to protect them from national banks.[@@]
The Office of the Comptroller of the Currency recently adopted a regulation that exempts national banks from complying with state lending laws.
The National Association of Realtors, Washington, has asked the OCC to block federally chartered banks from entering real estate brokerage and property management unless the OCC rescinds the preemption regulation.
Thousands of association members have filed formal complaints opposing the OCC preemption regulation, the association says.
State banking officials, state attorneys general and many consumer groups also oppose the regulation, the association says.