Tuesday, January 10, 2012

Federal regulators, state AGs and banks to meet this week

Federal agencies, state attorneys general and bank attorneys are set to gather in Washington, D.C., this week to again try to hammer out details of a potential multi-billion-dollar settlement with the country's largest mortgage servicers, according to a person familiar with the matter.

The deal is close but not imminent, the person said. A number of small issues remain on all sides, and a deal would need numerous levels of approval.

The settlement, would resolve potential government action over improper foreclosure practices, including "robo-signing" at Bank of America, Wells Fargo, and three other mortgage servicers. The dollar figure would likely fall in the range of $20 billion to $25 billion, according to multiple reports.


Anonymous said...

Where can I sign up to pay a fine that represents .000000001% of the damage I caused?

Bruce said...


Get a driver's license.