Homeowners Could Lose Interest on Mortgage Escrow Money Under New Bank Rules — Now 10 States Are Fighting Back
Ten states sued the OCC over rules allowing some banks to decide whether to pay interest on mortgage escrow accounts.
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Why It Matters
Banks might stop paying interest on money homeowners give them to hold for taxes and insurance, but some states are fighting this rule. This shows tension between banks wanting more profit and people wanting fair treatment with their money.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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