Tag Archives: Fed releases Ally foreclosure review plan

The Federal Reserve released a plan between Ally Financial and third-party consultant PricewaterhouseCoopers, hired to conduct the independent foreclosure review. The release also included an action plan from Citigroup ($26.75 0.28%), updating the Fed on its implementation of consent order requirements agreed to in April 2011. The Fed also included a letter from HSBC ($40.15 -0.08%) covering how the bank plans to implement single-point-of-contact requirements under the consent order. The consent orders came after an investigation into widespread foreclosure abuses and documentation problems. The agreements include new servicing standards and […]