A controversial regulation proposed in 2001 by the Federal Reserve and Treasury would permit banks to engage in real estate brokerage and property management. NAR is committed to assuring homebuyers and consumers that banks will not enter the real estate brokerage business. Large banking conglomer- ates push this proposal so they can steer consumers toward their proprietary products and services. However, NAR continues to be successful in encouraging a bipartisan majority of the House and more than 20 Senators to sponsor legislation that would put a permanent ban on banks entering the real estate business. In 2006, for the third 3rd year, the U.S. Senate Appropriations Committee approved a permanent prohibition. NAR encourages the House and Senate to keep the permanent ban language in any final appropriations bill. Recent rulings by the Office of the Comptroller of the Currency (OCC) have threatened to expand the powers of national banks to develop real estate. NAR urges Congress to block the OCC actions and send a message to regulators that banks have no place in the real estate business. NAR supports federal legislation that would narrow the loophole that allows retail and commercial firms to own industrial loan companies.