White House

Obama to 'Pocket Veto' Foreclosure Bill

President Obama will “pocket veto” a bill that passed through Congress that could have made it easier for banks to foreclose on homeowners. The “Interstate Recognition of Notarizations (IRON) Act” was supposed to make it easier for states to recognize documents notarized in other states; however, the bill passed through Congress with almost no debate, and so it fell to consumer groups to point out that it could have the unintended consequence of making it easier for banks to remove homeowners from their homes. The pocket veto is when the president refuses to sign a bill, and Congress must be adjourned for a pocket veto to take effect.