This looks like a plea bargain to pay smaller fines for the robo-signing in order to get away with the vast, as yet uncharged fraud involving securitization.Many workers saw their savings lost and state pension funds were looted by the actions of the large financial institutions. This sounds like a wink and a nod to the latter.
Big US banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that is proposed to limit part of their legal liability in return for a multibillion dollar payment.
The talks aim to settle allegations that banks including Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial seized the homes of delinquent borrowers and broke state laws by employing so-called “robosigners”, workers who signed off on foreclosure documents en masse without reviewing the paperwork.
Tuesday, September 6, 2011
Banks Offered Deal in Robosigning Law Breaking
Banks offered Deal in robosigning law breaking.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment