Obama Pulls a Pocket Veto on Foreclosure Bill
"The large print giveth and the small print taketh away," as one wise troubadour put it, and luckily for struggling homeowners, President Obama took a good look at a bill that had cleared Congress and flexed his executive powers to send it back Thursday.
“The large print giveth and the small print taketh away,” as one wise troubadour put it, and luckily for struggling homeowners, President Obama took a good look at a bill that had cleared Congress and flexed his executive powers to send it back Thursday. –KA
Your support is crucial...AP via Google News:
White House press secretary Robert Gibbs said Thursday that Obama is sending a newly passed bill back to Congress to be fixed because the current version has “unintended consequences on consumer protections.” The bill would loosen the process for providing a notary’s seal to documents and allow them to be done electronically.
Obama will not sign a bill that would allow foreclosure and other documents to be accepted among multiple states. Consumer advocates and state officials had argued the legislation would make it difficult for homeowners to challenge foreclosure documents prepared in other states.
The White House said Thursday it is sending the bill back to Congress for revisions, and that the administration would work with lawmakers on it.
O. Max Gardner, a consumer lawyer in Shelby, N.C., said the bill would have made the problems with foreclosure documents worse. That’s because mortgage companies would have been able to mass-produce documents and affix a digital version of a notary’s seal rather than one on paper.
As we navigate an uncertain 2025, with a new administration questioning press freedoms, the risks are clear: our ability to report freely is under threat.
Your tax-deductible donation enables us to dig deeper, delivering fearless investigative reporting and analysis that exposes the reality beneath the headlines — without compromise.
Now is the time to take action. Stand with our courageous journalists. Donate today to protect a free press, uphold democracy and uncover the stories that need to be told.
TD Column
In a healthy party, losers get jettisoned and new leaders are given the reins.
Editorial Cartoons
Health & Wellness
The betrayal of trust by the institutions meant to protect Flint’s residents has made them cautious as they look to the future.
TD Original
Reflecting on the systems that maintain racism and separatism in America.
Wounds of War
According to Pentagon policy on “responding to civilian harm”, Defense Secretary Lloyd Austin owes Somalian drone victims an overdue apology.
Editorial Cartoons
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.