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California will become the first state to write into law much of the national mortgage settlement negotiated this year with the nation’s top five banks, and expand it to all mortgages, if state lawmakers approve wide-ranging legislation on Monday.
Majority Democrats say they have the votes to send the homeowner protection package to Gov. Jerry Brown despite opposition from business and lending organizations.
The Assembly approved the legislation on a 53-25 vote, and the Senate was preparing to take up the debate.
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