Reply #3: What he's talking about.

[LiberalAndProud]

http://www.automatedtrader.net/real-time-dow-jones/55393/lenders-near-pacts-with-us-bank-regulators-in-foreclosure-probe

UPDATE: Lenders Near Pacts With US Bank Regulators In Foreclosure Probe

Fourteen U.S. lenders are on the verge of agreements with federal bank regulators to overhaul their handling of foreclosures and treatment of delinquent borrowers in response to allegations of abuses that emerged last fall.

Regulators including the Office of the Comptroller of the Currency, Federal Reserve and Office of Thrift Supervision could announce the agreements with the banks and thrifts as early as next week, though a date wasn't final, according to people familiar with the matter

-snip-

Two House Republicans, Reps. Spencer Bachus (R., Ala.) and Shelley Moore Capito (R., W.Va.), argued in a letter last week that the bureau overstepped its authority by getting "deeply involved" in the talks.
They pointed to a draft of a confidential document from the consumer bureau in which the bureau seems to suggest that the settlement require the largest mortgage servicers to modify a specific number of mortgages and provide borrowers relief.
On Monday, Elizabeth Warren, the Obama administration official charged with setting up the consumer bureau, defended the bureau's role in the ongoing mortgage settlement talks and added that she's "proud" to offer advice on the matter.
"To the extent that we can be helpful in holding to account servicers that have violated the law and in repairing the damage they caused, we are proud to do so," Warren wrote in a letter to the lawmakers.