Reuters: Regulatory News: Allonhill suspended from U.S. foreclosure review

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Allonhill suspended from U.S. foreclosure review May 11th 2012, 20:11 WASHINGTON | Fri May 11, 2012 4:11pm EDT WASHINGTON May 11 (Reuters) - U.S. banking regulators have suspended the consultancy Allonhill from doing further work with banks on the foreclosure reviews they are required to do as part of an April 2011 settlement with regulators, the Comptroller of the Currency (OCC) announced on Friday. The OCC said Allonhill had been helping Aurora Bank FSB and Wells Fargo & Co review foreclosure files and has been told to cease doing so because it had previously reviewed some of the same loans for an unidentified third party. The OCC said it suspended Allonhill "to ensure the independence of the loan review process going forward."

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