In this press conference on December 1, 2011, Massachusetts Attorney General Martha Coakley announced that the commonwealth had filed a lawsuit against five major banks for engaging in unfair and deceptive practices in foreclosure, Attorney General Martha Coakley announces today she has filed a lawsuit against five of the nation’s largest banks.
Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC), JP Morgan Chase (NYSE: JPM), Citi (NYSE: C) and Ally Financial are among Coakley’s targets in a lawsuit she is set to announce in a news conference Thursday at 1 p.m.
The lawsuit also names Mortgage Electronic Registration System Inc. and its parent, MERSCORP Inc., as defendants.
Bank of America is the largest bank in Massachusetts by deposits at the end of 2010, according to BBJ research.
According to a news release emailed earlier today, “The AG’s lawsuit seeks accountability for the banks’ unlawful and deceptive conduct in the foreclosure process, including unlawful foreclosures, false documentation and robo-signing, MERS [mortgage electronic registration systems], and deceptive practices related to loan modifications.”
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