Calif. AG Gives Thumbs Down To Latest Version Of Nationwide F'closure Fraud Settlement; Says New Deal Still Falls Short For Golden State Homeowners

In Sacramento, California, The Sacramento Bee reports:

• Calling it "inadequate for California," the state is rejecting the latest settlement proposal between states and major U.S. banks over lending abuses that fueled the foreclosure crisis.



• California Attorney General Kamala Harris pulled out of nationwide talks with the banks in October, saying the proposed $25 billion deal gave too much immunity to lenders and didn't provide enough relief for homeowners in a state hard hit by the mortgage meltdown.



• On Wednesday, Harris' office said a new version of the settlement plan still falls short of those goals. "At this point, this deal does not suffice for California," said spokesman Shum Preston.

For more, see California attorney general rejects foreclosure settlement.