Hard-Hit Borrowers Need Max Relief From Housing Deals: Sen.

Law360, New York (January 16, 2013, 6:52 PM EST) -- Senate Banking Committee member Sherrod Brown, D-Ohio, urged the Federal Reserve and Office of the Comptroller of the Currency on Tuesday to ensure that the bulk of two recent multibillion-dollar mortgage servicing settlements go to homeowners in most need of assistance.

Brown said in a letter that the two regulators should make sure the $8.5 billion in direct cash payments and other homeowner assistance that Bank of America Corp., Citigroup Inc. and eight other banks agreed to pay on Jan. 7 should not be divided equally...
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