NY to sue Wells Fargo, strike deal with Bank of America over mortgages-sources

Reuters

WASHINGTON, Oct 1 (Reuters) - The New York Attorney Generalplans to sue Wells Fargo on Wednesday over failures tocomply with the terms of the $26 billion National MortgageSettlement, according to a person familiar with matter.

At the same time, Bank of America confirmed it hasseparately struck an agreement with New York Attorney GeneralEric Schneiderman over similar types of alleged complianceproblems.

Separately, a committee of 14 other states and federalauthorities monitoring the settlement are also expected toannounce agreements with both Bank of America and Wells Fargo toaddress similar compliance concerns over loan modifications andother issues, people familiar with the matter told Reuters.

Rates

View Comments (0)