Is it any wonder that the National Assn. of REALTORS® is losing credibility? In the same week that it announces a $1.2 million effort to support the Small Business Health [Un]Fairness Act to supercede state laws regarding health care benefits, the group testifies before the FDIC to urge them to block a preemption petition:
"NAR testified Tuesday before the Federal Deposit Insurance Corp. against a petition asking the FDIC to preempt state laws to permit state banks to operate nationally under the laws of their home states.
"NAR urged the FDIC to deny the petition, sought by the Financial Services Roundtable, because it would harm the ability of states to protect their citizens. The petition would result in undue concentration of banking services and fewer choices for consumers, open the door to the mixing of banking and commerce, undermine the state banking system, and disrupt the competitive balance among financial service providers, NAR said.
" 'Because real estate is local, the issue of preemption of state and local laws applicable to lenders is of great concern to REALTORS®,' testified Pat Vredevoogd, NAR first vice president. 'NAR and its members have been deeply involved in issues relating to competition among federal banks and thrifts, state banks, and non-depository institutions because they play such an important role in helping American families buy their homes.'"
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