BofA (BAC), Wells (WFC) May Be Sued by NY AG for Violating $25B Foreclosure Settlement
Tweet
Share
E-mailGet Alerts BAC Hot Sheet
Join SI Premium – FREE
Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) are on watch Monday as New York might sue the pair over breaching terms associated with a $25 billion foreclosure settlement.
Bloomberg reports today that New York Attorney General Eric Schneiderman documented 339 violations of the settlement since last October. Specific allegations weren't listed, but there will be a press conference later on Monday.
The settlement was entered into by five of the largest U.S. banks with 49 U.S. states and the federal government.
Neither of the banks issued a comment. Both are trading higher on the session.
Bloomberg reports today that New York Attorney General Eric Schneiderman documented 339 violations of the settlement since last October. Specific allegations weren't listed, but there will be a press conference later on Monday.
The settlement was entered into by five of the largest U.S. banks with 49 U.S. states and the federal government.
Neither of the banks issued a comment. Both are trading higher on the session.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- SEC accuses ex-BofA senior banker Satsky of insider trading - Bloomberg
- BofA maintains underperform ratings on six BDC stocks
- BofA tracks building products sales momentum in second quarter
Create E-mail Alert Related Categories
Insiders' Blog, LitigationRelated Entities
Wells FargoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
