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Office of the Comptroller of the Currency

GAO: U.S. Foreclosure Review Could Have Generated Higher Payments

"A comprehensive review of major banks' foreclosure files could have delivered an additional $1.5 billion in cash to consumers if it wasn't halted last year, a federal watchdog has found.

"The Government Accountability Office, in a report being released Tuesday, evaluated federal bank regulators' decision last year to cancel a prolonged review of foreclosure-processing and loan-assistance mistakes. A draft of the GAO report was reviewed by The Wall Street Journal.

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