Federal regulators were accused by some states of thwarting their efforts to prevent the financial crisis.
In January 2010 testimony before the Financial Crisis Inquiry Commission, state and local officials talked about how the practices of mortgage lenders -- and the response from their regulators -- contributed to the financial crisis.
Among those to testify were Illinois Attorney General Lisa Madigan, Texas State Securities Board Commissioner Denise Voight Crawford and Miami Mortgage Fraud Task Force Chairman Glenn Thobold. U.S. Attorney John W. Suthers and Financial Crisis Inquiry Commission members also testified.
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