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Recommend “Reuters” - U.S. bank regulator plans separate foreclosure settlement (Email)

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Reuters

March 24, 2011

http://westlawnews.thomson.com/National_Litigation/News/2011/03_-_March/U_S__bank_regulator_plans_separate_foreclosure_settlement/

CHARLOTTE, N.C./SAN DIEGO, March 24 (Reuters) - The main regulator for the largest U.S. banks is preparing to break from state authorities and settle with lenders over their foreclosure practices, according to a source familiar with the process, dashing hopes for a comprehensive settlement.

About a dozen federal authorities and 50 state attorneys general have worked for months to reach a coordinated settlement that would let banks contain their litigation risk, help homeowners mistreated during foreclosures, and remove a cloud of uncertainty hobbling the housing market's recovery.


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