New York AG to sue Wells Fargo and Bank of America

NEW YORK, May 6 (Reuters) – New York Attorney General Eric Schneiderman on Monday said he plans to sue Bank of America Corp and Wells Fargo and Co over their mortgage practices.

The New York Attorney General plans to sue Wells Fargo & Co on Wednesday over failures to comply with the terms of the billion national mortgage settlement, according to a person familiar with.

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New York To Sue Wells Fargo And Bank of America Business & Finance The attorney general of New York said that he has plans about suing the major lenders that are Wells Fargo and Bank of America for violating mortgage settlement of $25bn.

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NY AG to sue BofA, Wells Fargo over mortgage settlement. It was supposed to speed mortgage relief to homeowners in need and provide $2,000 payments to borrowers who lost their homes to foreclosure. JPMorgan Chase & Co, Citigroup Inc and Ally Financial Inc were the other banks in the settlement.

It said it wouldn’t undertake any new investments. Singapore’s central bank says it’s conducting a “thorough review of various transactions as well as fund flows” through its banking system..

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Wells. AG and HSBC Holdings Plc, have yet to resolve significant probes. Wells Fargo set aside funds for the settlement before midyear, it said in a statement. Shares of the bank pared earlier.

For the big banks, there seems to be no end to the legal mayhem. New York Attorney General (AG) Eric Schneiderman is planning to sue Wells Fargo & Company (WFC – Free Report) and Bank of America.

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New York Attorney General Eric Schneiderman on Monday said he plans to sue Bank of America Corp and Wells Fargo & Co. for violating the National Mortgage Settlement brokered last year between the.

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