Now we know what that plea by Goldman Sachs to “end robo-signing” was all about. It wasn’t just the New York banking regulator, but the Federal Reserve which sanctioned Goldman over their foreclosure practices today. The Federal Reserve on Thursday sanctioned Goldman Sachs GS -3.08% over deficient practices involving residential mortgage loan servicing and foreclosure [...]

Right now on C-SPAN3, the House Financial Services Committee is holding a series of hearings on foreclosure fraud. The three panels today are divvied up among regulators, bankers, and homeowner advocates and academics. The current panel includes Phyllis Caldwell, the chief of the Homeownership Preservation Office at the Treasury Department; Elizabeth Duke, of the Federal [...]

It does appear that Elizabeth Warren has the inside track to getting the position as director of the Consumer Financial Protection Bureau. We know that bureau, as part of the Dodd-Frank bill, lives inside the Federal Reserve, albeit with an independent budget and a (mostly) independent rulemaking authority. However, at the outset, the bureau comes [...]