Stories Related to States May Sue Banks For Fraud Over Mortgage Crisis

The Huffington Post News Editors, Huffington Post
Tue, 11/03/2009 - 8:29am

States May Sue Banks For Fraud Over Mortgage Crisis

Frustrated by the banks' inability or unwillingness to stop an avalanche of foreclosures, the states are considering lawsuits over the creation and marketing of millions of bad loans as well as the dismal pace of mortgage modifications. Such cases would have been impossible until recently, because federal regulators had exclusive oversight of national banks.

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