The Fed is reportedly holding up a $10B deal between 14 large banks and the Office of the...

|By:, SA News Editor

The Fed is reportedly holding up a $10B deal between 14 large banks and the Office of the Comptroller of the Currency to settle abusive foreclosure practices in 2009-2010. While the banks and the OCC want to finalize the agreement ahead of the start of earnings season this week, the Fed is unhappy about the way payments to consumers under the settlement would be determined. Smaller banks also oppose the deal.