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Consultant Paid More Than $900 Million in Foreclosure Review

A prominent Washington consulting firm run by a former top U.S. banking regulator was paid $927.5 million to conduct a review of foreclosure files, according to a letter sent by Promontory Financial Group to the Senate Banking Committee. The disclosure comes as lawmakers on Capitol Hill and New York’s top banking regulator push regulators to more closely scrutinize the relationship between consulting firms and banks, amid concerns that the consultants are not truly independent.

via Consultant Paid More Than $900 Million in Foreclosure Review – MoneyBeat – WSJ.

 

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