The Administration set up a public website to track progress on reducing these payment errors and hold leaders accountable and called for action against government contractors for failing to report significant overpayments received on government contracts in a timely way.
But he could truly have replied that it has more often been Brazil than Argentina that has offended against the spirit of Mercosur with unilateral action, most recently in tightening rules on payment for imports.
"Borrowers will not be required to execute a waiver of any legal claims they may have against their servicer as a condition for receiving payment, " the OCC said, leaving the door open for more legal action.
Since virtually every securities class action settles after surviving a motion to dismiss, the risk of non-payment is presumably much lower for plaintiff attorneys and courts might consider lowering or eliminating the multiplier on billable hours the firms rack up after that.