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Elizabeth Warren Split Emerges with State GOP

It seems that the debate on procedural errors in the practice of home foreclosures will not stop in the near future. After the Fed announced about their findings that no procedural errors yesterday, now it’s turn of republican party who expressed their opinions. In the congress, the republican party highlights the threat of large fines against the banks, and also questioned about the importance of protecting homeowners. There is debate in congress. On Wednesday, Republican leaders sent a letter to finance ministers questioned about the fines issue to financial institutions.

Congressional Republicans Set Sights On Homeowners, Elizabeth Warren As Split Emerges with State GOP Leaders

After that Elizabeth Warren, a Special Advisor to the Secretary of the Treasury on the Financial Consumer Protection Bureau, met with several GOP leaders and some state attorneys to discuss solutions for this problem. “We Want To remedy That losses have occurred as a result of those problems,” said John Suthers, Colorado’s Attorney General.
During the meeting, some GOP leaders of the Republican party, questioned the interests of the firm headed by Warren in this issue. Republicans are hard-working against the establishment of the bureau. “We questioned whether Ms. Warren has any authority that would play a role, because he was not the head of the bureau,” said Neugebauer, a member of the republican party.

It looks there are really different views among members of the party republic with state lawyers. If the republican party to defend the interests of financial institutions. So the lawyers on the contrary, they were questioned about the fate of homeowners. “The servicers himself admits there is a very serious problem in the process of foreclosure,” Suthers said, when asked whether a fine of $ 20 billion to financial institutions are too big. “That’s a good starting point,” he continued.
There is no one know about how long this problem will end. Keep a cool head, and eliminate the personal or specific groups interests, to take a wise decision. The decision is not detrimental to financial institutions and homeowners.

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Posted by on Mar 12 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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