Obama to Pocket Veto Foreclosure Bill
ABC News reports:
ABC News has learned that President Obama will not sign – or “pocket veto” -- a bill that sailed through Congress that consumer groups warn would make it easier for banks to foreclose on homeowners.
The purpose of the “Interstate Recognition of Notarizations (IRON) Act -- written by Rep. Robert Aderholt, R-Al., and currently sitting on the president’s proverbial desk -- is to streamline the recognition of notarizations across state lines. Aderholt said in a statement that the legislation “will help businesses around the nation by eliminating the confusion which arises when states refuse to acknowledge the integrity of documents notarized out-of-state. This issue continues to be a problem for businesses and individuals who engage in business across state lines.”
The bill passed the House in April and sailed through the Senate without debate at the end of September, as Congress adjourned for the Fall recess.
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