For your Memorial Day pleasure. Here’s how the banking industry treats military veterans:
Two mortgage servicing companies have agreed to settle federal complaints that they wrongfully foreclosed on the homes of at least 178 military service members and to set aside a minimum of $22 million to compensate those victims.
The companies were accused of knowingly and repeatedly violating the Servicemembers Civil Relief Act, a federal law that extends an array of financial and legal protections to military personnel. Specifically, the companies were accused of ignoring a provision of the law that required them to get court orders before foreclosing on active-duty service members.
According to Thomas E. Perez, assistant attorney general for the Justice Department’s civil rights division, the Countrywide settlement is “easily the largest amount ever recovered“ by the Justice Department for violations of the civil relief act.
Saxon was accused of illegally foreclosing on approximately 18 service members, “some of whom were severely injured in the line of duty or suffer from post-traumatic stress disorder,” according to Mr. Perez. — NYTimes
Didn’t anybody in the chain of command raise an objection to this? Not one single paper-pusher, supervisor, regional director, attorney, etc., pause long enough to observe that something was terribly amiss here? Evidently not — just a corporate ethic working that allows no questions and no judgment, just profits.
These are the same captains of industry who decry “job busting government regulation.” This is what they do even when somebody’s watching — imagine their antics if they were turned loose the way free market-worshiping libertarians and conservatives advocate. Medieval World, anybody?
Enjoy your hot dogs and beer, America.