Tuesday, May 07, 2013

NY Attorney General: Banks have no fear of law enforcement

Eric W. Dolan | Raw Story
6 May 2013


New York Attorney General Eric T. Schneiderman on Monday suggested that big banks were not afraid of skirting the law because they didn’t believe law enforcement would target them.
But he plans to change that.

Schneiderman announced a lawsuit against Wells Fargo and Bank of America earlier in the day. He alleged the two major banks repeatedly violated the terms of a mortgage settlement reached by the Department of Justice, Department of Housing and Urban Development and 49 state attorneys general last year.

“The problem is the banks have overwhelming confidence that law enforcement is not taking this seriously,” he told MSNBC host Chris Hayes. “They have overwhelming confidence that whatever the rules are, they won’t be followed up on.”

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