National Progressive Groups Urge Fed Gov’t, State AG’s to Follow Schneiderman’s Lead

A number of labor, social justice and good government groups have sent out a letter to attorneys general across the country and the federal government urging them not to settle with the big banks that contributed to the foreclosure crisis.

“As settlement discussions between the Attorneys General, the federal agencies, and the mortgage servicers continue, we want to reiterate our view that pressure for an immediate settlement must not outweigh the more important need for a settlement appropriate to the vast scale of the laws broken and the harm done,” they write. “We understand that industry is pressing to limit relief and for overly broad releases; they must not be allowed to succeed. To the extent that institutions or individuals committed illegal acts, there have to be consequences for breaking the law that are in proportion to the seriousness of the violations.” Read More

National Progressive Groups Urge Fed Gov’t, State AG’s to Follow Schneiderman’s Lead