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Bank of America Corporation Message Board

  • madmoneycramer madmoneycramer May 7, 2013 5:59 AM Flag

    New York to sue BofA, Wells Fargo over mortgage practices


    New York to sue BofA, Wells Fargo over mortgage practices
    New York Attorney General Eric Schneiderman said on Monday he plans to sue Bank of America Corp and Wells Fargo and Co for violating the terms of a settlement designed to end mortgage servicing abuses

    Sentiment: Strong Sell

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    • I just heard an interview with New Yorks Attorney General CNBC and he's something else. He used an example of a couple who has a mortgage for "35" years and now trying to get a reduction. He then said there's a little over 300 complaints and there could be thousands, but he doesn't have any proof of that number. Your right, he's after political gains like everyone else in political offices.

    • That is a laugh. A nuisance, but the NY AG has no authority to do that. It has to go through the administrator according to the terms of the settlement. If anyone thought Schneiderman wasn't out for political gain, this is the proof. He is wasting NY taxpayer dollars to keep his name in the news.

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