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Apr 18, 2012

Economy: Economic News, Policy & Analysis - The Washington Post: Joseph Smith Jr., monitor of banks after mortgage settlement, faces a daunting task

Economy: Economic News, Policy & Analysis - The Washington Post
Economy News: Get the latest headlines and in-depth coverage of economic news, policy, analysis and more from The Washington Post.
Joseph Smith Jr., monitor of banks after mortgage settlement, faces a daunting task
Apr 18th 2012, 11:00

The headlines, press conferences and presidential praise that accompanied the February announcement of a $25 billion legal settlement over egregious foreclosure practices have long since subsided.

But for one veteran banking regulator in a newly leased, 18th-floor office in downtown Raleigh, N.C., the work is only beginning. He recently resigned as North Carolina's banking commissioner to become the "monitor" overseeing the landmark agreement between government officials and five of the nation's largest banks.

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