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Bank Regulators Should Withdraw Consent Orders on Illegal Servicing

Wednesday, April 6, 2011

National consumer, civil rights, and labor groups ask bank regulators to withdraw the proposed consent orders issued to the nation's mortgage servicers and to work with the state Attorneys General and United States Department of Justice to obtain a joint settlement that addresses illegal servicing practices in a meaningful manner. The draft consent orders that have been released to the press do not hold servicers accountable for illegal practices and do not stop avoidable foreclosures. Read the letter.

For more information: Kathleen Day at (202) 349-1871 or kathleen.day@responsiblelending.org; Ginna Green at (510) 379-5513 or ginna.green@responsiblelending.org; or Charlene Crowell at (919) 313-8523 or charlene.crowell@responsiblelending.org.