NY Times | Attorney General of N.Y. Is Said to Face Pressure on Bank Foreclosure Deal

Attorney General of N.Y. Is Said to Face Pressure on Bank Foreclosure Deal

Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices, according to people briefed on discussions about the deal.

In recent weeks, Shaun Donovan, the secretary of Housing and Urban Development, and high-level Justice Department officials have been waging an intensifying campaign to try to persuade the attorney general to support the settlement, said the people briefed on the talks.

Mr. Schneiderman and top prosecutors in some other states have objected to the proposed settlement with major banks, saying it would restrict their ability to investigate and prosecute wrongdoing in a variety of areas, including the bundling of loans in mortgage securities.

But Mr. Donovan and others in the administration have been contacting not only Mr. Schneiderman but his allies, including consumer groups and advocates for borrowers, seeking help to secure the attorney general’s participation in the deal, these people said. One recipient described the calls from Mr. Donovan, but asked not to be identified for fear of retaliation.

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6 Responses to “NY Times | Attorney General of N.Y. Is Said to Face Pressure on Bank Foreclosure Deal”
  1. pamelag says:

    GMObama! i wonder if they serve GMO while entertaining ? fracked water? selling their souls for pennies. sad for them. don’t worry, their $ is cursed

  2. kravitz says:

    How We Can Really Help Families
    Shaun Donovan
    U.S. Secretary for Housing and Urban Development
    October 17, 2010

    “No one should lose their home as a result of a bank mistake. No one. That is why the Obama Administration has a comprehensive review of the situation underway and will respond with the full force of the law where problems are found. “

  3. marilyn lane says:

    President Obama doesn’t care how he trashes our property rights
    under the fifth and fourteenth amendments as long as his friends
    at the Banks and on Wallstreet get rich.

    Lets vote President Obama out.

  4. Eric Roth says:

    So where is the “hope” or “change” from the corrupt Bush-Bernanke administration? Why is Obama so consistently pro-Wall Street, pro-secrecy, and anti-transparency and anti-Main Street?

    Disgusting, disappointing, and dismal fail to catch the situation.

    Give the GOP credit: they are who they say they are- they openly favor Wall Street. Perhaps it’s better to have a GOP administration so there is less confusion about the government’s priorities.

    • rictic says:

      It’s fairly simple really, it’s because Obama was bought and paid for by the same Elite mafia style “families” that have been buying the Presidency for the past 30 years or more…

  5. Mario Kenny says:

    Obama how very disappointing

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