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McClatchy: Obama To Veto Bill Over Fear It Will Cause More Foreclosures

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Tags: Banks, Barack Obama, Foreclosure, Legislation, Veto

President Barack Obama will veto a bill that he fears could be misused to force more homeowners into foreclosure.

Originally the measure, which makes it easier for notarized documents to be accepted across state lines, was thought to be non-controversial and passed with bipartisan support in Congress. However, White House Press Secretary Robert Gibbs said Thursday that there are now concerns that its language could cause "unintended consequences" damaging to consumers, especially homeowners.

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