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    Late last year, as the fallout from the fake account scandal at Wells Fargo was still in full force, rumors began to circulate that the bank could be facing another regulatory smackdown due to reportedly failing to meet its requirements under the Community Reinvestment Act. And Tuesday, the other shoe dropped, as the bank disclosed that it did indeed fail to meet its CRA requirements.

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Congressman Cummings calls for hearing on mortgage servicing complaints

In a letter to Chairman Darrel Issa, Congressman Elijah Cummings requested that the Committee hold a hearing with current acting Federal Housing Finance Agency Director Ed DeMarco and the Inspector General of the FHFA Steve Linick.

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Cummings asked that representatives from Bank of America (BAC), CitiMortgage (C), Provident and Wells Fargo (WFC) also be invited to the hearing. These mortgage servicers were spotlighted by the Inspector General’s report as failing to report monthly on the escalated cases they receive.

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()sent a letter()

mhopkins@housingwire.com

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