US Banks Are Sick and Tired of Being Served with Lawsuits

US Banks Are Sick and Tired of Being Served with Lawsuits

The nation’s top banks are tired of paying the price for crashing the economy, defrauding billions from retirement savings, and dispossessing tens of millions of people from their homes in fraudulent foreclosures across the nation. The banks are ready to move on already. Their officers and representatives are whining about the continued investigations, lawsuits, and damage to their reputation. If the banks are tired of fending off lawsuits, how must millions of Americans facing debt collection, foreclosure, or student loan collection lawsuits feel?

In February 2012, a foreclosure fraud settlement was reached between five of the top banks; Citi, Wells, BoA, Chase, and Ally/GMAC. The settlement, between these top five banks and forty-nine state attorneys general and federal housing and banking regulators, was the result of sixteen months of negotiations after the story about foreclosure fraud and robosigning (aka forgery and real estate fraud) broke in the mainstream media. What specific acts of wrongdoing were settled, thereby removing the threat of future demands, settlements, or government lawsuits? According to a FAQ document on the settlement published by HUD on March 12, 2012:

Q: What set of violations are servicers being released from?

A: The release of claims relinquishes particular state and federal claims on issues addressed by the settlement. These claims at the state level pertain to violations of servicer misconduct, such as robo-signing and other foreclosure misconduct. At the federal level, these claims include failure to abide by FHA servicing requirements and a limited origination claim release.

The release is narrowly tailored and is limited to mortgage servicing and origination claims. States and federal parties that sign on may still pursue other claims against the banks, such as securities and securitization claims. We also retain the ability to pursue financial institutions that are not part of the settlement.

Despite the banks’ grandstanding, the liability waived in the settlement does not absolve the five defendant banks from accountability for other fraudulent acts.

Rest here…

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4closureFraud.org

Comments
5 Responses to “US Banks Are Sick and Tired of Being Served with Lawsuits”
  1. Does anyone have cecilia Rodriguez, Darryl Brown notary, Janie W.Reid notary, and Jackie Miller Trustee? Please send me a copy to barry_sheffer@hotmail.com I will send you mine Thank you

  2. feduphadenough says:

    Funny –I was getting ready to serve a lawsuit on BankUnited–let’s keep up the lawsuits–sue for wrongful foreclosure, harassment, etc, –I love the malicious abuse of power or process–let’s start 100 more lawsuits–KEEP ‘EM COMIN’

    • Beverly Sheffer says:

      I am in foreclosure. My husband who has been a Mechanical engineer for 30 years broke his back and got a bone eating infection was in hospital while he was there he also enjoyed blowing an anyrism released 5 months later found contract job at Cymer 2 months later ended in Oct 2010 hasnt found job since Skank of America, BONY trying to scam us out of our house Assignment of Deed of Trust from MERS to BONY signed by Cecilia Rodriguez who at this time has the State of Texas looking for her. My Substitute of Trustee robosigned by Gabrielle Beck , notorized by Janie Reid , is trying to substitue Jackie Miller (who the hell is that?) as Trustee. So here I (the wife and caretaker 1/2 owner with husband in property) am so traumatized between my husband driving me crazy being home everyday and the realization if I DONT FIND AN ATTORNEY TO STOP THE FORECLOSURE SALE OF MY HOME BY NOVEMBER 2 2012 that I may end up being the bag lady going out everyday panhandling n bringing home ( my new cardboard box out in the hills) the goods so I tried to call Tim Mcandless but havent heard from him I woke up a little too late from this one . Anybody hear me (the song) and another song ( can I get a witness can I get a witness ?
      PLEASE if you know of an Attorney in San Diego area please write me barry_sheffer@hotmail.com Thanks Bev

  3. neidermeyer says:

    BURY THEM IN PAPER…ALWAYS DEMAND A JURY TRIAL…ALWAYS FIGHT FOR DISCOVERY…

  4. leapfrog says:

    “The nation’s top banks are tired of paying the price for crashing the economy, defrauding billions from retirement savings, and dispossessing tens of millions of people from their homes in fraudulent foreclosures across the nation. ”

    Aw, poor CROOKS. Go cry in your beer. You should be in jail.

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