Massachusetts Attorney General Cites ‘Lost Confidence’ in Banks, May Sue – Bloomberg

via Massachusetts Attorney General Cites ‘Lost Confidence’ in Banks, May Sue – Bloomberg

.Massachusetts Attorney General Martha Coakley said she may sue major banks after she “lost confidence” that they will reach an adequate agreement to resolve disputes over foreclosure practices.

Attorneys general from all 50 states last year announced a probe of the foreclosure practices of banks following reports that faulty documents were used to seize homes. Since then, attorneys general and federal officials have been negotiating a settlement with the five largest mortgage servicers in the U.S. — Bank of America Corp. (BAC), JPMorgan Chase & Co. (JPM), Citigroup Inc. (C), Wells Fargo & Co. (WFC) and Ally Financial Inc.

 

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