Sign Our Petition to Release Illegal Foreclosure Information
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Petition to Federal Reserve Chairman Ben
Bernanke and Comptroller of the Currency Thomas Curry:
We the undersigned find it incomprehensible
that your agencies are denying Members of Congress access to information about
illegal foreclosure practices.
Sen. Elizabeth Warren and Rep. Elijah Cummings
write that in “concealing important information about these violations,” your
agencies are hindering their ability to oversee the mortgage servicing industry
and to develop legislation to protect the public from further abuse.
We believe that not only should you turn
these records over to Sen. Warren and Rep. Cummings, but you should also
release these records to the public.
Sen. Warren and Rep. Cummings seek these
documents pursuant to their constitutional responsibility to oversee the
executive branch. Yet your agencies have tried to block these enforcement
documents might reveal “trade secrets.”
We find it completely outrageous that the Fed
and the Comptroller of the Currency are attempting to block this critical
information from Members of Congress engaged in oversight. The public also has
a right to know how these companies engaged in illegal foreclosures. Otherwise,
how can we prevent other homeowners from falling prey to these practices?
|Sen. Elizabeth Warren (D-Mass.) and Rep. Elijah
You’ve probably heard the horror stories about
unscrupulous mortgage servicing companies charging homeowners excessive fees
and, in some cases, taking their homes through illegal foreclosures.
Sen. Elizabeth Warren (D-Mass.) and Rep. Elijah
Cummings (D-Md.) recently asked two federal agencies for records that might
shed light on these practices. Sounds reasonable to us, but these agencies, led
by Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas
Curry, flat out refused to hand over the documents.
We find it incomprehensible that these federal
agencies would refuse to supply documents that detail how mortgage servicing companies
broke federal laws.
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