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Saturday, September 08, 2012


s b scheinman

Re Sovern & CFPB
I am an aggressive activist for fairness,justice,protection of the individual and The Rule of Law. It takes a while to recognize that the half full-half empty glass moral also applies to the issue of who is really on the "side of the angels. Mr Sovern would do the policy and the agency he defends more good by recognizing and admitting striking weaknesses and failures, just as the President is fairly criticized for negotiating with himself.
Of all the despicable strategies implemented by BIG Banks, the use of abusive, deceitful, illegalities of their "Mortgage Servicers" may represent the worst most destructive to homeowners without the resources to defend against corrupt attorneys and judiciary and with no one one their side.
What ever happened to the CFPB's PR claims that all would be "audited and exposed under new regulatory guidelines" A massive audit manual were published but never implimented. It is really worse because the CFBP has totally failed to take on the inciduous legal tactics claiming preemption of such efforts as well as by states attorney by the Federal agency totally co-opted by those Big Banks, the Comptroller of the Currency., which insists it has SOLE authority to regulate those institutions and the fraud perpitrated
Pre-emption is a huge lie The phoney legal opinion crafted by inhouse Comptroller lawyers is a big lie. BUT every state has been threatened by Federal lawsuits AGAINST permitting them to take actions to protect millions of homeowners. Mortgage servicing is NOT even banking. It is a contractual activity for a fee. Where did the CFPB go? Into the woods and far away, picking the ripe fruit (check-cashing?) and issuing a huge stream of press but never using the pitbull approach needed to defeat lawyers by the hundreds and bank executive decisionmaking which early-on decided to pay the pitiful petty-cash fines while NEVER CHANGING the fraudulent practices which permeate their culture of contempt for the American family and its institutions.
Mr Cordray, you should be ashamed. Mr Sovern, there is a BIGGER story to tell than the trash Washington Times
Stanley Scheinman, Westport Ct

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