Justice Appropriator Commends Attorney General For Targeting Predatory Mortgage Lenders

WASHINGTON, Jan. 27, 2012 /PRNewswire-USNewswire/ -- Congressman Chaka Fattah (D-PA), the senior Democrat on the House Appropriations Subcommittee on Commerce, Justice, Science and related agencies, which oversees funding for the U.S. Department of Justice, issues this statement:

"Attorney General Eric Holder has moved aggressively today to assure justice for millions of manipulated and swindled Americans pursuing the dream of home ownership -- and to bring to justice the mortgage lenders that violated the law and common decency with their unscrupulous predatory practices.

"It's no secret that I've been critical of the Department of Justice and its timid approach towards consumers during the mortgage crisis. I'm pleased the Department under the leadership of Mr. Holder has decided - in the interest of consumers - to pursue an aggressive campaign to bring to justice those responsible for this debacle. 

"This economic atrocity cannot go unanswered. The Attorney General is to be commended for meeting this serious and wide-spread financial disenfranchisement with experienced prosecutors forming the Residential Mortgage-Backed Securities Working Group.

"As I wrote to the Attorney General when he began his investigation into mortgage fraud and manipulation, 'Institutions and even individuals must be held accountable for their participation in the economic meltdown.'

"I look forward to continue leading the effort in Congress and through the House Appropriations Committee to fund and support the Attorney General's initiative."

SOURCE Office of Congressman Chaka Fattah