Obama Will Not Sign Foreclosure-friendly Bill

Thursday, 07 Oct 2010 01:33 PM

 

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WASHINGTON - U.S. President Barack Obama will not sign a bill that could make it easier for lenders to foreclose on homeowners, the White House said on Thursday.

"The Interstate Recognition of Notarizations Act of 2010 was designed to remove impediments to interstate commerce. While we share this goal, we believe it is necessary to have further deliberations about the intended and unintended impact of this bill on consumer protections, including those for mortgages, before this bill can be finalized," White House communications director Dan Pfeiffer said in a blog posting.

(Reporting by Ross Colvin)

© 2014 Thomson/Reuters. All rights reserved.

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