Eric Holder sides with banks against state AGs in Foreclosure Fraud and Robo-Signing settlement talks

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Eric Holder sides with banks against state AGs in Foreclosure Fraud and Robo-Signing settlement talks

Eric Holder sides with banks against state AGs in Foreclosure Fraud and Robo-Signing settlement talks

Fox Business-

The Obama Administration has finally found something it can agree on with the nation’s big banks: The need for the 50 state attorneys general to finally reach a deal to end the year-long investigation into faulty mortgage foreclosure practices and reach a long-awaited settlement, the FOX Business Network has learned.

People at the big banks say the Obama Administration is prodding the state AGs, led by Iowa’s Tom Miller, to agree on a deal that is currently on the table that calls for fines and revised mortgage foreclosure practices — but also limits banks’ liability on legal action.

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5 Responses to “Eric Holder sides with banks against state AGs in Foreclosure Fraud and Robo-Signing settlement talks”

  1. Mary says:

    The headline should read, “AG Holder Protects Covington & Burling Cronies from Extensive Legal Claims”

    Holder was a partner at Covington & Burling, the White Shoe law firm that represents MERS.

    MERS was the energizer bunny for mbs fraud.

    The firm wrote the legal opinion that justified MERS business model to the lending and title industries in 2006. Holder and his top DOJ lieutenants were employed at Covington & Burling during that period.

    Holder is not siding with the banks. He is using the State AG’s, and the power of his office to push for a global settlement that protects MERS and C&B from massive claims.

    He is dangling the carrot of global settlement to fill states’ depleted coffers to exempt himself, Covington & Burling partners and MERS from settling claims far in excess of $20B.

    Eric Holder is using his office to benefit his cronies.

    He is unfit to serve as nation’s highest law enforcement officer.

    The State AG’s are being played. Holder needs to resign.

    The truth must be told and the guilty punished.

  2. McGruff says:

    Release all white collar criminals being held in jails.

    How can we justify their prison sentences after allowing Wall Street to walk?

  3. Erick says:

    Obama’s behavior shows a pattern of putting the least amount of effort into everything he does. He wants his AG to give the banks free rein to steam-roll home owners who are victims of fraud by lenders.

  4. Get Real says:

    So if this becomes a settlement what was filed. Fraud? My Homeowners Title Insurance policy states I’m protected for life in the event of fraud. Will this mean I can collect on the insurance?

  5. Gloria Tyler-Mallery says:

    SHAME on Holder, Harris and others that refuse to come to the aid of the millions of homeowners. They better start listening to the people, that have had enough of the dirty politics. If Holder can’t do the right thing “Get the hell out of the way!”

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