LETTER| Elizabeth Warren Presses Eric Holder On Mortgage Settlement

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LETTER| Elizabeth Warren Presses Eric Holder On Mortgage Settlement

LETTER| Elizabeth Warren Presses Eric Holder On Mortgage Settlement

HUFFPO-

Sen. Elizabeth Warren (D-Mass.) sent a letter to Attorney General Eric Holder Wednesday questioning whether a major government settlement with the nation’s largest mortgage companies is merely a way to absolve banks of malpractice under a “timid enforcement strategy.”

The letter follows months of criticism from Warren over weak penalties imposed on banks accused of defrauding consumers and investors. She has denounced settlement strategies that allow financial firms to set aside past violations without acknowledging wrongdoing.

Wednesday’s letter addresses a settlement among the U.S. Department of Justice, the Federal Housing Administration and 49 state attorneys general over charges that major banks submitted a torrent of false claims in pursuit of government benefits. In February 2012, Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial agreed to pay $25 billion to settle allegations that they forged signatures, fabricated documents and engaged in other illegal practices during foreclosures.

[HUFFINGTON POST]

[ipaper docId=162364305 access_key=key-pso13e62gfrzcsh3yyh height=600 width=600 /]

 

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One Response to “LETTER| Elizabeth Warren Presses Eric Holder On Mortgage Settlement”

  1. Charles Reed says:

    If I were not married and Warren married I would ask for her hand in marriage! Anybody that read my rants in he last 2yrs now I brought this question up. Plus I two years ago submitted a whistle-blower claim and told the Senator about this crap. Just not wanting to be left out when we get that award!

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