I want to know on a bank-by-bank basis the number of families that were illegally foreclosed on.
Elizabeth Warren
The Public Record
Elizabeth Ann Warren is an American attorney, academic, and politician serving as the senior United States senator from Massachusetts since 2013. A member of the Democratic Party, she has been a prominent advocate for consumer protection, economic equality, and corporate regulation. Warren gained national recognition for her work in establishing the Consumer Financial Protection Bureau and has focused on issues such as student debt relief and healthcare reform during her tenure in the Senate.
Does it really identify the law breaking that went on and appropriately hold these banks accountable?
Does that mean, then, that what you found tells us whether or not the illegal practices of the banks occurred in 1 percent of the cases or occurred in 90 percent of the cases?
I think you have probably all seen this one-page agreement that lists all of the things that the banks did wrong
the whole point of this review was to bring some justice, to give these families some compensation for what happened.
People want to know that their regulators are watching out for the American public, not for the banks.
So unless someone throws a rock through the window with this information tied to it, you will not release it, is that what you are saying?
the people who broke the law are the same people now who have determined who will be compensated from that law breaking.
But the question is not getting cash to them, $300. The question is getting the right amount of cash to the right people, the people who are the victims of illegal activities of the banks, is that right?
Over the last few months, Congressman Elijah Cummings and I have requested documents from your agencies regarding the basic data and the processes of the Independent Foreclosure Review.
I think I will stop there, Mr. Chairman, since it is clear that we do not have the information we need to determine the numbers on which the OCC has based--and the Fed--has based this settlement.
the particular instance we are talking about here involved four million families, and it involved people who lost their homes, whose lives were turned upside down.





