PHH Phh Corp

U.S. House Oversight and Government Reform Committee Chairman Darrell Issa (R., Calif.) Thursday agreed to allow a vote on whether the panel should subpoena documents from five mortgage-servicing companies.

At a hearing on the Consumer Financial Protection Bureau, the panel's top Democrat, Elijah Cummings of Maryland, offered a motion to subpoena Wells Fargo & Co. (WFC), MetLife Inc. (MET), PHH Mortgage, a unit of PHH Corp. (PHH), SunTrust Banks Inc. (STI) and U.S. Bancorp (USB).

After heated debate and voicing concerns that the motion wasn't germane to the hearing on the consumer-watchdog agency, Issa ultimately agreed to make time for a vote on the motion.

Cummings has pressed Issa to take more steps to investigate alleged mortgage foreclosure abuses for several months.

"The foreclosure crisis has had devastating consequences for communities across the country and continues to threaten our nation's economic recovery, drain state and local budgets, and displace families," said Cummings. "The banks have admitted wrongdoing, and yet they are now refusing to provide Congress with documents that are critical to our investigation," he said.

   -By Maya Jackson Randall, Dow Jones Newswires; 202-862-6687; 

maya.jackson-randall@dowjones.com

Phh (NYSE:PHH)
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Phh (NYSE:PHH)
過去 株価チャート
から 9 2023 まで 9 2024