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The Justice Department's Housing Settlements: Millions of Consumer Relief Funds Disbursed With No Guarantees of Helping Homeowners
Senate Committee on Homeland Security and Governmental Affairs
Senate Committee on Homeland Security and Governmental Affairs
Abstract
The Senate Committee on Homeland Security and Governmental Affairs issued a Majority Staff report looking into the lack of transparency regarding the settlement negotiations between the banks involved in the 2008 financial crisis and the Department of Justice (DOJ). The report finds that the DOJ has not specified that the $13.5 billion it earmarked for consumer relief will only aid homeowners, and that there is no oversight for how these funds are spent. Furthermore, the report finds that the DOJ may be ignoring Congress's purse power, and there may be political issues with the entities selected to receive this funding.
Date
2016-05-18
Document Type
Senate Majority Staff Report
Serial Number
Document Length
102 pages
Congress
114
Relation
DOI
Keywords
Staff Reports
PAP Major Code
20: Government Operations
PAP Minor Code
2002: Government Efficiency, General Regulatory Policy and Bureaucratic Oversight