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Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices, according to people briefed on discussions about the deal.
In recent weeks, Shaun Donovan, the secretary of Housing and Urban Development, and high-level Justice Department officials have been waging an intensifying campaign to try to persuade the attorney general to support the settlement, said the people briefed on the talks.
Mr. Schneiderman and top prosecutors in some other states have objected to the proposed settlement with major banks, saying it would restrict their ability to investigate and prosecute wrongdoing in a variety of areas, including the bundling of loans in mortgage securities.
via Schneiderman Is Said to Face Pressure to Back Bank Deal – NYTimes.com.
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Filed under: Action Alert!, activism, Corporations, new york, New York State Politics, News Tagged: | banks, Eric Schneiderman, mortgage, Mortgage-backed security, New York Attorney General, Obama Administration, Shaun Donovan, United States Secretary of Housing and Urban Development
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