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Bracing for a Sea of Change in Mortgage Servicing

Bracing for a Sea of Change in Mortgage Servicing

With Hensarling relinquishing the chairmanship of the House Financial Services Committee, news outlets suggest that Rep. Maxine Waters (D-California) could take the role, if Democrats gain control of the lower chamber. That would be a change in management with real possible consequences for the financial services industry. Just this past October, Waters introduced the Megabank Accountability and Consequences Act, which would empower federal regulators like the Federal Reserve and FDIC to break up banks with records of customer abuse.

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