Banks Say Ohio Prosecutor Can't Sue Them As Class

Law360, New York (May 8, 2012, 6:05 PM EDT) -- Merscorp Inc., Bank of America Corp., Wells Fargo Bank NA and a slew of others argued Monday that an Ohio prosecutor doesn't have the authority to sue them on behalf of the state's 88 counties for allegedly failing to record mortgage assignments.

Prosecuting Attorney David P. Joyce of Geauga County alleged in a 2011 class action lawsuit that the banks had improperly recorded mortgages in county offices, or didn't record them at all, as they tried to avoid fees in the rush to securitize heaps of...
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