Dems Take Aim At $25B Deal On Flawed Foreclosures

Law360, New York (November 7, 2011, 3:45 PM EST) -- Liberals in Congress are on the offensive over reports that state attorneys general are nearing a deal with the country's five biggest mortgage lenders over reckless and improper foreclosures, saying Friday that the reported $25 billion settlement isn't enough.

Ripping “immunity for Wall Street banks,” the Congressional Progressive Caucus said the settlement — which attorneys general in New York, Delaware, Massachusetts and California have already criticized as insufficient — lets the banks off the hook too easily.

“[A] $25 billion settlement pales in comparison to the...
To view the full article, register now.