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Tuesday, December 6, 2016

Elizabeth Warren: ‘People Want To Know Their Regulators Are Watching Out For The American Public, Not The Banks’

Here’s another example of why the big banks never wanted Elizabeth Warren (D-MA) on the Senate Banking Committee.

In a hearing Thursday, Warren questioned Mr. Daniel P. Stipano, Deputy Chief Counsel for the U.S. Comptroller, and Richard Ashton, Deputy General Counsel of the Federal Reserve, why they’ve made a decision to protect the big banks but not to alert the families who have been the victims of illegal foreclosures.

The senator and Congressman Elijah E. Cummings (D-NY) have been attempting to get details about the number and types of illegal foreclosures investigators have discovered since the financial crisis, with little help from the offices of the comptroller or the Fed. And in this hearing, the two departments’ lead counsels were even less forthcoming, only saying that they hadn’t yet made a decision about when or if families would be notified.

This week, MSNBC’s All In with Chris Hayes took a look at illegal foreclosures and the ridiculously small compensation most homeowners received after being removed from their homes unjustly by the nation’s largest financial institutions.

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