Sunday, April 10, 2011

Banksters On Verge Of Wiggling Themselves Off The Hook As Feds Sell Out Foreclosure Fraud Victims?

From an editorial in The New York Times:
  • Americans know that banks have mistreated borrowers in many ways in foreclosure cases. Among other things, they habitually filed false court documents. There were investigations. We’ve been waiting for federal and state regulators to crack down.
  • Prepare for a disappointment. As early as this week, federal bank regulators and the nation’s big banks are expected to close a deal that is supposed to address and correct the scandalous abuses. If these agreements are anything like the draft agreement recently published by the American Banker — and we believe they will be — they will be a wrist slap, at best. At worst, they are an attempt to preclude other efforts to hold banks accountable. They are unlikely to ease the foreclosure crisis.

For more, see Banks Are Off the Hook Again.