Subpoenas issued to financial firms in expanded probe

January 28, 2012 by legitgov

Subpoenas issued to financial firms in expanded probe 27 Jan 2012 The Justice Department issued civil subpoenas to 11 financial institutions as part of a new effort to investigate misconduct in the packaging and sale of home loans to investors, Attorney General Eric Holder said on Friday. Holder declined to provide specifics, including the names of the firms. The Obama administration has received heat from left-leaning activist groups that believe a separate effort to investigate misconduct in processing foreclosures and servicing home loans may not be rigorous enough to extract a meaningful settlement.