Representative Henry A. Waxman 30th District of California

Contact: Karen Lightfoot (202) 225-3976

Rep. Waxman joins California Democratic Congressional Delegation Urging Bank Investigations

Related Documents Letter to Investigate Banks California Housing Cases

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Washington, Oct 5 - Rep. Waxman and California Democratic Congressional Delegation (CDCD) members sent a letter to Attorney General Holder, Federal Reserve Chair Bernanke, and Comptroller of the Currency Dugan requesting investigations into systemic wrongdoing by financial institutions in their handling of delinquent mortgages, mortgage modifications, and foreclosures. Delegation members have received thousands of complaints from their constituents, which appear to outline a clear pattern of misconduct on the part of lenders and servicers. Recent press accounts have also reinforced the view that these institutions are routinely failing to respond in a timely manner, misplacing requested documents, and misleading both borrowers and the government about loan modifications, forbearances, and other housing related applications.