Make a deposit, cash a check, find a house; Realtors fight bank bid to invade their turf.(Federal Reserve Board, Department of the Treasury proposal)(Brief Article)

From: Business Insurance | Date: March 12, 2001| Author: | Copyright information

The nation's biggest financial services companies could soon get yet another way to steer customers to their most lucrative businesses.

A joint proposal by the Federal Reserve Board and the Department of the Treasury would allow financial holding companies - mostly banks with various subsidiaries - to operate real estate brokerage and management arms.

This would allow banks to get more access to personal information that could be shared with subsidiaries, including profitable asset management and advisory services.

The issue pits many of the largest banks in the ...

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