Federal Reserve Checks To Foreclosure Settlement Recipients BOUNCE! lol
The Federal Reserve and the Office of the Comptroller issued checks to plaintiffs who
won a class action settlement in fraudulant foreclosure practices, bounced.
Months after brokering a $9.3 billion settlement with the nation’s biggest banks, the Federal Reserve and the Office of the Comptroller of the Currency announced last week that 1.4 million checks would be sent out to struggling homeowners, many of whom have been languishing for two years without assistance.
But problems have emerged again in what has proved to be a deeply flawed review of foreclosures and the ensuing settlement. The Federal Reserve and the comptroller’s office said on Wednesday that some homeowners were greeted by startling news: their checks bounced because of insufficient funds.
Good grief.
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