We have some pretty stringent laws on the books to combat racketeering in this country. It would be nice if our leaders would consider enforcing them one of these days:
Banks aren’t living up to pledges they made as part of a $26-billion settlement of government investigations into mortgage servicing and foreclosure abuses, according to an advocacy group’s survey of California housing counselors and lawyers.The survey, the ninth in a series conducted by the California Reinvestment Coalition, also found that providers of mortgage customer service are violating consumer-protection provisions in the California Homeowner Bill of Rights, the package of foreclosure-prevention laws sponsored last year by state Atty. Gen. Kamala Harris [...]
Most big servicers are national banks regulated by the Office of the Comptroller of the Currency. An OCC spokesman said he hadn’t seen the survey and couldn’t comment.
But let's make it easier for low-income home buyers to get swindled. That'll solve everything.
It's not my usual M.O. to argue for reducing the size of the federal government, but the OCC is easily the single most corrupt and incompetent agency in Washington, and it needs to go away at once. So, for that matter, does the Attorney General of the United States---and maybe also too, the Attorney General's boss.
---Baron V
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