Should Banks Be Allowed To Engage In Real Estate Development?

The Las Vegas real estate market has had its ups and downs the last few years. A saturation of newly constructed homes put a bind on the market. There are many condo projects not meeting completion dates and losing funding.

Now the OCC is allowing banks to participate in the selling and purchasing of real estate. In 2005 rulings allowed the OCC to expand bank powers to allow them to engage in real estate development.

Now NAR contends that these decisions do not serve consumers or businesses well and breach the separation of banking and commerce.