Currency Comptroller Defends Settlements With Banks

Law360, New York (February 26, 2013, 5:15 PM EST) -- Following criticism from lawmakers, Comptroller of the Currency Thomas Curry on Tuesday defended his agency's decisions to settle with banks over alleged poor foreclosure practices and other abuses, saying settlements often led to a better result for victims than litigation.

According to Curry's speech, given to a meeting of the National Association of Attorneys General, all federal agencies — not just the Office of the Comptroller of the Currency — resolved the majority of their enforcement cases by consent agreement. These agreements are preferentially chosen over...
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