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MA AG Coakley Sues Major US Banks Over Foreclosures

Source: Boston Globe

Posted on 01 Dec 2011

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Massachusetts Attorney General Martha Coakley said today that she has filed suit against five major US banks for allegations related to mortgage fraud and unlawful property seizures. Coakley said she will hold a press conference at 1 p.m. EST  today to detail the suit against Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co, Citi, and Ally Financial. The lawsuit seeks accountability for the banks’ alleged unlawful and deceptive conduct in the foreclosure process.

Coakley's office said the lawsuit was filed after more than a year of negotiations with the banks involving all 50 states.