Federal oversight of lenders found lax compared with state
Lack of action to stop high-risk loans linked to nationwide crisis
Two Treasury Department agencies, the Office of the Comptroller of the Currency and the Office of Thrift Supervision, oversee federally chartered banks. Complaint records show those two federal agencies regularly handled consumer complaints by letting the banks investigate them, without interviewing complainants or the accused themselves, according to documents and interviews with dozens of complainants.
The state subpoenaed witnesses, questioned ...
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With the Bush administration overseeing loan-makers by having the crooks investigate any complaints about themselves, we see where the dis-functionality of a very pro-business administration violates the people. The high costs of a "free" market.