And rightly so. Absolving the banks from further litigation in the robosigning and securitization scandal for such a paltry sum would be like getting away with murder.
For more, see here:
If banks are released from liability regarding documentation practices, some industry officials believe they would be able to evade state lawsuits directed at how they bundled the loans into securities.
The attorneys-general of New York, Delaware, Massachusetts and Nevada are probing such securitization matters, and have already indicated to the other states that they did not agree with the counterproposal.
Catherine Cortez Masto, Nevada’s legal officer, last week charged Bank of America’s Countrywide unit with failing to properly transfer mortgages into the trusts that issued securities to investors, and for fraudulently pursuing home seizures anyway. New York’s Eric Schneiderman has indicated his office has reached similar findings.
