On Jan. 3, the Federal Reserve Board and the Department of the Treasury (Treasury) issued for public comment their (agencies) joint proposal that would permit Financial Holding Companies (FHCs) and financial subsidiaries of national banks to engage in real estate brokerage and real estate management. Extensive comments were received and, at the request of a number of interested persons, the comment period was extended from March 2 through May 1, 2001. This topic originally was covered in my June 20, 2001 and Jan. 16, 2002 columns for The New York Law Journal.
Background
