U.S. Sens, Mark Warner and Tim Kaine joined Sen. Ron Wyden and nine other senators in urging the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) to examine the protections for consumers facing tax liens and foreclosure in light of consumer abuses revealed in recent media reports.
A letter from Warner, Kaine, Wyden, and Sens. Jeff Merkley, Ed Markey, Bernie Sanders, Elizabeth Warren, Robert Menendez, Christopher Murphy, Bill Nelson, Richard Blumenthal, and Mark Begich requests that DOJ and CFPB examine state and local tax lien programs and provide best practices for state and local governments, and to look at existing federal oversight and consumer protections. Additionally, the letter makes the same request regarding third-party vendors hired during foreclosure processes. The letter requests a response by October 31, 2013.
The Washington Post recently published startling details of a 10-month investigation into the District of Columbia’s tax lien sales program. The stories detail numerous instances of seniors, veterans and individuals with disabilities losing their homes to third-party investors over trivial tax debts. Additionally, recent story in the New York Times reported on the aggressive and questionable tactics being employed by some banks and their subcontractors when homeowners are – and even sometimes, in fact, are not – behind on their mortgage payments.
The text of the letter can be found here:
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Chris Graham
