Pub. L. 111-8, div. D, tit. VI, sec. 624
Pub. L. 111-8, div. D, tit. VI, sec. 624
Sec. 624. Notwithstanding any other provision of law, for fiscal year 2009 and each fiscal year thereafter, neither the Board of Governors of the Federal Reserve System nor the Secretary of the Treasury may determine, by rule, regulation, order, or otherwise, for purposes of section 4(k) of the Bank Holding Company Act of 1956, or section 5136A of the Revised Statutes of the United States, that real estate brokerage activity or real estate management activity is an activity that is financial in nature, is incidental to any financial activity, or is complementary to a financial activity. For purposes of this section, “real estate brokerage activity” shall mean “real estate brokerage”, and “real estate management activity” shall mean “property management”, as those terms were understood by the Board of Governors of the Federal Reserve System prior to March 11, 2000.