New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America Corp, Wells Fargo and Co and other banks violated the terms of a settlement designed to end mortgage servicing abuses.
Schneiderman - who has said he plans to sue Bank of America and Wells Fargo for failing to live up to their obligations under the deal - said other states had found similar problems.
"Several other states have identified similar recurring deficiencies by the participating servicers," Schneiderman said in a letter dated May 23 to the monitor for the settlement, former North Carolina Banking Commissioner Joseph Smith. The letter was obtained by Reuters on Friday.
The $25 billion settlement was brokered last year between five banks and 49 state attorneys general. The other banks are JPMorgan Chase & Co, Citigroup Inc, and Ally Financial Inc. The banks agreed to provide relief to homeowners and comply with a set of servicing standards to atone for foreclosure misconduct.
The board game Monopoly has always taught some important economic lessons: The benefits of owning real...
Before Sayuri Tsuchitani became an entrepreneur, she spent two decades on her feet: cutting, coloring and...
For his work chairing the US Federal Reserve, Alan Greenspan, who has died aged 100, was...
Soaring gasoline prices, triggered by the U.S. war with Iran, have pushed inflation to its highest...
