Elizabeth Warren: Real accountability also requires big changes within our regulatory agencies. In 2013, the Fed and the OCC entered into a $9.3 billion settlement with more than a dozen mortgage servicers who had improperly foreclosed on thousands of homes across the country.[13] Congressman Cummings and I started asking some questions about this, and we stumbled onto a pretty amazing fact. The Fed’s Board of Governors – the ones who were nominated by the president and confirmed by the Senate – didn’t even vote on whether to accept the settlement. A recordbreaking $9.3 billion on the table, and the settlement decision was left to the Fed’s staff. Elizabeth Warren on Financial Reform