Banks Press for CFPB Waivers in Foreclosure Talks

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Banks Press for CFPB Waivers in Foreclosure Talks

Banks Press for CFPB Waivers in Foreclosure Talks

Little by little they are working their way up to freedom.

All their eggs are almost in the basket…

WSJ-

Banks are demanding that the Consumer Financial Protection Bureau relinquish the right to sue over certain flawed mortgage originations, in exchange for their participation in a proposed multibillion-dollar settlement of alleged foreclosure abuses.

The banks say their inability to secure a sufficiently broad release from the new bureau, which was sidelined in earlier discussions as it launched, would be a deal breaker. The five biggest U.S. mortgage banks, state attorneys general and Obama administration officials are pushing to finalize a deal before the end of the year that would be worth $19 billion or more.

[WALL STREET JOURNAL]

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