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C. Boyden Gray Testifies Before the House on RMBS Settlements and Congress’ Power of the Purse

Former White House Counsel C. Boyden Gray testified Thursday before the Subcommittee on Oversight and Investigations of the House Committee on Financial Services, regarding Congress’ power of the purse. Recent Justice Department mortgage settlements related to banks’  conduct during the financial crisis with respect to residential mortgage-backed securities provided the backdrop for the hearing. Several of those settlements, among other things, direct banks to make payments…

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