House Dem Questions Fed, OCC On $9.3B Foreclosure Deals

Law360, New York (February 19, 2013, 4:50 PM EST) -- Rep. Maxine Waters, D-Calif., on Tuesday sought more information from the Federal Reserve and the Office of the Comptroller of the Currency about why they replaced a foreclosure review process with a series of settlements with large banks that has totaled more than $9.3 billion.

In a letter, Waters, the ranking Democrat on the House Financial Services Committee, said the settlement information the Fed and OCC have so far made public regarding their settlements with now 13 banks leave many questions unanswered about why the two...
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