This Week
  • Heritage Packaging in Victor has a reputation for solving problems for customers.

  • Medical intervention is critical for patients suffering from congestive heart failure.

  • Sydor Instruments has acquired a company that will double the Chili firm's sales.

  • Christopher Liucci, G&W's top local executive, thrives on challenge.

  • Anne Gabel, 27, owns MJ Gabel Diamond and Jewelry Buyers.

  • The world's best women golfers will pay a final visit to Rochester.

Attorney general to sue pair of big banks

Rochester Business Journal
May 6, 2013

The state attorney general said Monday he plans to sue Bank of America Corp. and Wells Fargo & Co. for repeatedly violating terms of the National Mortgage.
 
The 2012 settlement requires Bank of America, Wells Fargo, JPMorgan Chase & Co., Citigroup Inc. and Ally Financial Inc./GMAC Inc. to improve customer service practices by complying with new mortgage servicing rules.

The five are the largest mortgage-servicing banks in the country, Attorney General Eric Schneiderman said in a statement. His office has documented 339 violations of the standards by Bank of America and Wells Fargo since last October.

“The five mortgage servicers that signed the National Mortgage Settlement are legally required to take specific, rigorous and enforceable steps to protect homeowners,” Schneiderman said.

“Wells Fargo and Bank of America have flagrantly violated those obligations, putting hundreds of homeowners across New York at greater risk of foreclosure.”
 
(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google