Obama Will ‘Pocket Veto’ Bill Seen As Cover For Bank Foreclosures

Via The Huffington Post‘s Arthur Delaney.

“ABC News has learned that President Obama will not sign – or ‘pocket veto’ — a bill that sailed through Congress that consumer groups warn would make it easier for banks to foreclose on homeowners.” More details:

On Thursday morning, White House officials held meetings to review the legislation, with the president ultimately deciding that however well-intentioned the bill may have been, it might create too much potential for harm to homeowners at a time of economic tough times, and in the wake of a major controversy over waves of questionable foreclosures by Bank of America, JPMorgan and other big lenders. …

Max Gardner, a foreclosure defense attorney, said the timing of the bill was suspicious, considering fraudulent notarization of bogus foreclosure affidavits is at the heart of a scandal that has prompted the nation’s largest banks to pause foreclosures in 23 states.