NY AG Targets BofA, Goldman, Others In MBS Probe

Law360, New York (May 16, 2011, 10:36 PM EDT) -- New York Attorney General Eric Schneiderman has asked major banks including, Bank of America Corp., Morgan Stanley and Goldman Sachs Group Inc., to turn over information about the securitization process as part of a probe into mortgage-backed securities.

Schneiderman will be meeting with bank executives next week to discuss the industry's mortgage practices, according to a Wall Street Journal report Monday.

The investigation means that banks already feeling the heat from federal regulators may also be hit with suits brought under New York's sweeping Martin Act...
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