WKYC: Sen. Brown holding banks accountable for mortgage mess

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WKYC: Sen. Brown holding banks accountable for mortgage mess

Along with new mortgage rules issued by The Consumer Financial Protection Bureau Thursday, a local lawmaker is proposing his own legislation to protect homeowners and taxpayers.

U.S. Sen. Sherrod Brown (D-Ohio) is introducing legislation that would prevent banks from foreclosing on mortgages in the process of modification. The bill will also make sure the banks don’t deduct any of the $8.5 million settlement on their taxes.

“Because taxpayers are subsidizing these banks that have made mistakes or oil companies who have made mistakes and should be responsible for mistakes,” says Brown.

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