Issa, Cummings request delay in mortgage settlement

[DonViejo]

By Mike Lillis - 01/05/13 03:14 PM ET

The leaders of the House Oversight Committee have asked federal regulators to postpone a multibillion mortgage settlement until the lawmakers can review the details.

Behind the Office of the Comptroller of the Currency, finance regulators are reportedly nearing a deal with the nation's largest banks to settle homeowner claims of lender malfeasance surrounding the collapse of the housing market.

But in a Friday letter to those regulators, Reps. Darrell Issa (R-Calif.) and Elijah Cummings (D-Md.) said they want to know more about the deal before it's finalized.

"We would like more information about how the potential settlement amount is to be determined in light of potential wrongdoing identified to date, how such aid may be distributed and in what form, and what may happen to homeowner files that are still awaiting review," the lawmakers wrote to Comptroller of the Currency Thomas Curry and Federal Reserve Chairman Ben Bernanke.


Read more: http://thehill.com/blogs/on-the-money/banking-financial-institutions/275781-issa-cummings-seek-delay-in-mortgage-settlement#ixzz2HE0Tb7so

[leftyohiolib]

1. sounds like what they mean is stall till they can figure out how to kill it and then get the

neccessary votes

[spanone]

2. i'm for the flat 10 billion in penalties....in cash. fuck them.

whey do these people get to negotiate a deal?