New York AG settles part of the MERS lawsuit With 5 Banks

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New York AG settles part of the MERS lawsuit With 5 Banks

New York AG settles part of the MERS lawsuit With 5 Banks

Wall Street Journal-

Five of the nation’s biggest banks have agreed to pay New York a total of $25 million to settle claims brought by New York State Attorney General Eric Schneiderman regarding their use of a private national mortgage electronic system.

The agreement, filed in federal court Tuesday, resolves certain monetary claims by the New York attorney general against Ally Financial Inc., Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co. and Wells Fargo & Co.

The agreement preserves the New York attorney general’s right to sue for damages suffered by consumers …

[WALL STREET JOURNAL]

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