OCC Makes Patently False Claim That Slap-on-the-Wrist Servicing Penalties Could Hurt Banks

Looks like we have a little game of renaming the OCC over at Naked Capitalism…

Plus, it is a really good post so check it out…

OCC Makes Patently False Claim That Slap-on-the-Wrist Servicing Penalties Could Hurt Banks

It’s time we come up with a new handle for the Office of the Controller of the Currency. It is difficult to convey how shameless this regulatory-agency-turned-slut for the banking industry has become. It’s the Stage 4 disease version of where our government is heading at a rapid clip: officials masquerading as serving the public interest when they are uber lobbyists for the pet whims of their supposed charges.

So what do we call the OCC? The Office of Capital Corruption? The Office of Criminal Capitulation? I have no doubt readers will have even better ideas (and don’t be constrained by the acronym).

As we’ve written in some of our posts on the foreclosuregate settlement negotiations, the OCC has engaged in what even those of us at a remove can tell is bureaucratic warfare against the FDIC and the yet to be operational Consumer Financial Protection Bureau. For the OCC to undermine the CFPB is a twofer. First, it helps to beat back meaningful mortgage reform. Second, the CFPB has the potential to hamper the OCC’s real mission, which is to make sure that the banks come first and everyone else pounds sand. It recognizes the need to make the occasional concession to keep the pitchfork crowd at bay, but otherwise it really has no interest in making the banks toe the line. Note that the Treasury and the Fed have pretty much the same worldview, but the OCC is more shameless and bloodyminded about pursuing it.

You can check out the rest over at Naked Capitalism here…

Some of my favorites are…

OCC = Office of Banksters Servants Companions & Enablers (OBSCENE)

OCC = Office of Criminal Cheerleading

OCC = American Bankers Association



19 Responses to “OCC Makes Patently False Claim That Slap-on-the-Wrist Servicing Penalties Could Hurt Banks”
  1. l vent says:

    Maybe it is time we joined the criminals and committed some financial terrorism on them. If the laws only protect the criminals, then LET’S JOIN ‘EM. Let’s commit trillions of check fraud on them and revolt on the taxes nationwide. Time for a little vigilante financial justice. We can return the stolen wealth to ourselves. We can be our own Robin Hood’s. If CHAOS is what they want, so be it.

    • Tim Bryant says:

      Just use the MERS model. Create a shadow registry of homeownership, and when foreclosure is imminent, change ownership without notifying anybody. When they take you to court, they have no standing because you would not be a proper party. It obviously is totally legal, right? (sarcasm included). Let’s see how the courts and the feds would react to that turnabout.

      • JB says:

        Better Yet I was thinking of a shadow registry where the public can hide the sale of stocks bonds and currency. When the federal, state and local government comes looking for taxes from gains they would not have the proper party to tax or garnish wages. We could just reassign the gains to someone else. 30 bucks and your a vice president and you can assign anything you want. Welcome to America. It’s the wild west..

  2. MAGGIE MAY says:


  3. talktotennessee says:

    Before I filed suit, I filed a complaint against Wells Fargo with the OCC. I heard nothing, nothing, nothing from the OCC, absolutely no response. I filed suit, OCC sends the provervial unsigned letter from “Customer Assistance Group” months after initial filing. The letter? It says that now that I am in litigation with Wells Fargo, they are unable to review my case!
    Don’t you just love it!
    Reminds me of the Arkansaw Traveler song.
    Hillbilly: Can’t fix things because its raining.
    Traveler: Well when it stop raining, you could . . . .
    Hillbilly: Don’t need fixing if it ain’t raining!

    change the lyrics to something like this. . . . .
    Homeowner: HELP ME, bank going to take my home.
    OCC: File a Complaint with OCC.
    Homeowner: But, the sale is scheduled, I will be forced out of my home if I don’t do something now!
    OCC: If you sue, OCC can’t review or help you.
    Homeowner: But if I don’t sue, my home will be gone, I will be evicted!
    OCC letter: “Your difficulty with the bank is the subject of litigation, it is inappropriate for the Office of the Comprtroller of the Currency (OCC) to intervene in this case.
    paraphrased: (furhermore, OCC will not review the results of litigation however you may subject an appeal to this office.) unsigned. . .
    OCC – what is in a name, poof!—–Nothing!

    • MAGGIE MAY says:


    • enough already of this b-ll sh-t says:

      i am in the judicial state of florida so wells fargo has to sue me. i can start litigation but my inexperienced lawyer says fraud is hard to prove. (all i can afford cant afford 600/month for a lawyer) so when wells fargo had some one hack into my loan proccessors computer dec 2010, then take her off my cas after she called me frantic, the 2/2011 just “loose” a fedex package i have tracking # and sigee, no bid deal to wells fargo we will just send her back to the womans whos computer was hacked. this all seems like a con job to me. like they want me to leave my house. right? so i complained to the OCC. detailed letter. included names. phone #’s. everything i could to help with my investigation. all wells fargo was told to do was send me a letter from the “office of the president” recapping my dealings with them since 2009 leaving out lost paper wor, lost files, and hacked files. this letter was alie with a copy sent to the OCC. wish i had a lawyer that would sue

      • l vent says:

        I found an attorney who agreed the fraud I found in my mortgage paperwork is indeed fraud. I think it is the slap on the wrist to the fraudsters by the Judges is what is the real issue. They should not get a do over if they get caught coming to court to take someones home with phony, fraudulent documents. That case should be dismissed forever and the fraudsters held accountable.

  4. leapfrog says:

    Office of Complete Chicanery

  5. MAGGIE MAY says:


    • Stupendous Man - Defender of Liberty - Foe of Tyranny says:

      I appreciate your sense of humor.

      My feeling has been, for a long time, if you can’t maintain a sense of humor, and laugh in the face of tragic events, adversity and crisis …. Well, when you lose aspects of your humanity balance is lost, and without balance staying upright to engage in battle becomes impossible.

      And with that I now skip gleefully down the daisy chain trail.

      • MAGGIE MAY says:

        IM GLAD SOMEONE APPRECIATES ME!!! I wish you happiness:)))))))) cuz u make me happi!!!

  6. FBI records indicate property and mortgage fraud is the fastest growing white collar crime in America. Such fraud could involve someone recording a fraudulent document in the county land records office, making it look like they now own the lien on your property.

    *Florida and the U.S. are rife with corruption and fraud, because up until now, our elected officials have allowed it to thrive. This same theory can easily explain why white collar crime is a boom industry in the U.S. and all 50 states.


    • l vent says:

      ALL of these foreign multinational villains have had the whole country on the credit float for decades and we never knew it.. The United States of America is now one big giant PONZI SCHEME runaway train because of it. These foreign multinational eliteist criminals got enormously wealthy off of no more than RAMPANT FRAUD AND PURE SPECULATION, SHORT SELLING and INSIDER TRADING. They robbed America blind and they screwed ALL of us and it was INTENTIONAL…

    • l vent says:

      That is only a third degree felony? I wonder if this crime is committed a million times over if it would become a much more serious felony. I had an attorney tell me that presenting fraudulent docs to a judge in order to steal a persons home is a $250,00 fine by the judges in Cook County ,Ill for the fraudsters and the criminals get to come back to court with a do over after they “fix” the fraudulent docs. A judge in my county threw 1700 fraudclosure complaints out of court last month because the fraudtorney’s for FANNIE MAE, Fisher and Shapiro admitted to using faulty, fraudulent affadivits to house steal. When the judge asked the fraudtorney how he would fix the fraud, the fraudtorney explained with more fraud, more or less. The judge then threw out all 1700 FISHER and SHAPIRO fraudclosure complaints. My state AG’s office promptly replied to that ruling: DO NOT WORRY, BANKSTER CROOKS, YOU WILL EVENTUALLY BE ABLE TO STEAL THE PEOPLES HOMES LATER, AFTER YOU MAKE THE FRAUD LOOK MORE LEGITiMATE.

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