OCC Acting Chief John Walsh responded to Rep. Grayson’s letter on systemic risk surrounding foreclosure fraud.
I rate the response as a total FAIL.
Guess what all, we are still on our own here to fight this fight so let’s bring it as hard and fast as we can.
The Congressman’s original letter is here…
Rep. Grayson Asks the Financial Stability Oversight Council to Require a Special Capital Buffer to Large Banks Due to Foreclosuregate
Posted by Foreclosure Fraud on November 2, 2010 ·
Dear Secretary Geithner and members of the Financial Stability Oversight Council, I’m writing concerning the foreclosure fraud crisis and the resulting potential need for a special capital buffer for large systemically significant institutions. I’m particularly worried about the title insurance market, and attempts to lay off title liability onto large banks without corresponding changes in … Read more
The OCC’s response letter is below…