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Kamala Harris, California say ‘no deal’ to big banks in foreclosure mess

Friday, September 30, 2011

imageState Attorney General Kamala Harris has pulled California from settlement talks between numerous state attorneys general and some of the country’s biggest banks accused of abusive home foreclosure practices. Harris made the announcement today in a letter to Iowa AG Tom Miller, who has been leading the so-called 50-state coalition, the LA Times says.

Noted: In so doing, she follows the lead of New York AG Eric Schneiderman, who pulled out of the talks earlier. Consumer groups and others have pressured Harris to do so, fearing a deal considered too weak, especially with the foreclosure mess worsening in California. From the LAT:

A spokesman for Schneiderman, Danny Kanner, welcomed Harris's move.

“Attorney General Schneiderman looks forward to his continued work with Attorney General Harris and his other state and federal counterparts to ensure those responsible for the mortgage crisis are held accountable and homeowners who are suffering receive meaningful relief.”

LA Times photo

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