Senate’s Warren Seeks Regulator Records on Foreclosure Deal
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U.S. Senator Elizabeth Warren and Representative Elijah Cummings want bank regulators to produce documents to show what led them to reach settlements this month with 13 mortgage servicers for faulty foreclosures.
“It is critical that the OCC and the Federal Reserve disclose additional information about the scope of the harms found to establish confidence in the sufficiency and integrity of the settlement,” the lawmakers, both Democrats, wrote in a letter dated today to Fed Chairman Ben S. Bernanke and Thomas Curry, head of the Office of the Comptroller of the Currency.