NY suing Wells Fargo in mortgage crisis settlement - DC News FOX 5 DC WTTG

NY suing Wells Fargo in mortgage crisis settlement

Posted: Updated:
By MICHAEL GORMLEY
Associated Press

ALBANY, N.Y. (AP) - New York's attorney general says he's suing Wells Fargo to force compliance with terms of last year's national mortgage case settlement.

Attorney General Eric Schneiderman also says he's dropping a similar action against Bank of America, which has agreed to reform its lending system.

The settlement of charges of improper lending practices sets standards that prohibit lenders from pursuing foreclosures while negotiating loan modifications. The standards require the banks to acknowledge refinancing applications in writing within three business days, notify borrowers of any missing documents within five days and make decisions on complete applications within 30 days.

Schneiderman said Tuesday the settlement has brought relief to thousands of New York homeowners during the housing crisis and recession.

Wells Fargo says it remains committed to the national settlement.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Your MoneyMore>>

  • Beware what your 'Digital Shadow' says about you

    Beware what your 'Digital Shadow' says about you

    Wednesday, April 23 2014 11:00 PM EDT2014-04-24 03:00:19 GMT

    To promote a video game called "Watch Dogs," the game's maker has launched a website called Digital Shadow to data-mine your Facebook account. When given permission, digital shadow analyzes all the public information about you and your friends available on the social network to create a file detailing everything from your most-used words to your annual salary to your personality.

    To promote a video game called "Watch Dogs," the game's maker has launched a website called Digital Shadow to data-mine your Facebook account. When given permission, digital shadow analyzes all the public information about you and your friends available on the social network to create a file detailing everything from your most-used words to your annual salary to your personality.


  • Insurer warns of 'cybergeddon' scenario

    Insurer warns of 'cybergeddon' scenario

    Wednesday, April 23 2014 10:32 PM EDT2014-04-24 02:32:34 GMT
    Most people can't go a day without the Internet. Reasons for using it are nearly limitless: social media, shopping, work, communication, finance, everything. Securing passwords and personal information is an ongoing concern.Now a new report says it's not you who needs to step up cyber security. Instead, organizations storing information need to step up their response to cyber risks to avoid a global disaster on the scale of the 2008 financial crisis.
    Most people can't go a day without the Internet. Reasons for using it are nearly limitless: social media, shopping, work, communication, finance, everything. Securing passwords and personal information is an ongoing concern.Now a new report says it's not you who needs to step up cyber security. Instead, organizations storing information need to step up their response to cyber risks to avoid a global disaster on the scale of the 2008 financial crisis.
  • Cough syrup popular in celebrities' 'sizzurp' cocktails pulled from market

    Cough syrup popular in celebrities' 'sizzurp' cocktails pulled from market

    Wednesday, April 23 2014 10:14 PM EDT2014-04-24 02:14:22 GMT
    A prescription cough syrup that some celebrities like to mix with soda and hard candy is being pulled from the market, TMZ reported and confirmed by pharmaceutical company Actavis. The cough syrup-soda concoction is often called "sizzurp." Lil Wayne sings about "Me and my drink." Bieber reportedly loves it. Soulja Boy recently posted a photo of several bottles of the Actavis-branded syrup on his Instagram account.
    A prescription cough syrup that some celebrities like to mix with soda and hard candy is being pulled from the market, TMZ reported and confirmed by pharmaceutical company Actavis. The cough syrup-soda concoction is often called "sizzurp." Lil Wayne sings about "Me and my drink." Bieber reportedly loves it. Soulja Boy recently posted a photo of several bottles of the Actavis-branded syrup on his Instagram account.
Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices