Figuresreleasedyesterday, however, from financialdataproviderMoneyfactsshowedBanks were failing to pass on interest rate cutstomortgage borrowers despite making severe cuts in savingsrates.
On July 5th a congressional committee on investigations headed by Darrell Issa, a Republican from California, released details of a sleazy mortgage-assistance programme provided to politicians and others perceived to be influential by Countrywide, a failed mortgage lender acquired during the crisis by Bank of America.