In the News
Ellen Seidman in Pro Publica | 'The Regulators Who Saw Crisis Coming'
September 25, 2008
Ellen Seidman, former director of the
Treasury’s Office of Thrift Supervision, testified in that capacity
before the House Committee on Banking and Financial Services on
February 8, 2000 that her office had warned repeatedly of the risks of
subprime lending: “Subprime lending, which involves
lending to borrowers who have a significantly higher risk of default
based on their credit repayment history, has been the subject of
intensive OTS scrutiny by our policy and supervisory staff for several
years. We started sounding warnings about risks arising from this
lending activity as early as June 1998.” LINK
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