WASHINGTON, March 19 (Reuters) - Lisa Madigan, Illinois Attorney General, in prepared testimony for a Friday hearing by the U.S. House Financial Services Committee:
* Says more rigorous federal oversight of mortgage lenders is needed.
* Says federal banking overseers must give as much weight to consumer protection as to traditional safety and soundness concerns.
* Testimony was posted on the committee's web site at http://www.house.gov/apps/list/hearing/financialsvcs_dem/press0320093.shtml
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(Reporting by Rachelle Younglai; Washington desk for company news; +1 202 898 8400, washington.newsroom@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Says more rigorous federal oversight of mortgage lenders is needed.
* Says federal banking overseers must give as much weight to consumer protection as to traditional safety and soundness concerns.
* Testimony was posted on the committee's web site at http://www.house.gov/apps/list/hearing/financialsvcs_dem/press0320093.shtml
RELATED NEWS:
* US FDIC 'very concerned' about excessive pay
* US House passes tax to recoup AIG bonuses
* 'Problem' national banks stand at 182-OCC
* FBI has 566 corporate fraud probes underway
* Justice Dept wants lenders to keep documents
* Financial regulators differ on 'risk'
* FACTBOX-U.S. bank failures in 2009
(Reporting by Rachelle Younglai; Washington desk for company news; +1 202 898 8400, washington.newsroom@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.