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Sink calls for Saxon to resign after Herald investigation

Chief Ftinancial Office Alex Sink today called for the resignation of Don Saxon, Commissioner of the office of Financial Regulation, and issued the following statement in response to the Miami Herald investigation into the state regulation of mortgage brokers:

“The Office of Financial Regulation has a duty to protect Floridians from those who would prey upon them.  I am outraged by the facts presented in today’s Miami Herald article on mortgage broker licensing.

"As one of four members of the Financial Services Commission, I am calling for the Commissioner of the Office of Financial Regulation to step down and for the immediate launch of a thorough investigation to identify why the people of Florida were not better protected.  The Governor and Cabinet must also issue an Emergency Order directing the Office of Financial Regulation to stop issuing or renewing mortgage broker licenses to felons, pending further instruction.

Floridians depend on the state to protect them from criminals, and it is inexcusable that state regulators were asleep at the switch.”