Minnesota AG: No releases for banks in the absence of thorough investigation

September 13, 2011 | By | Reply More

Lori Swanson, the Minnesota Attorney General has stepped up to tell the banks that they should not be released for their conduct over the past 10 years in the absence of a meaningful investigation. This account was published at Huffpo:

As government officials work to settle claims that the nation’s biggest banks illegally foreclosed on American homeowners, Minnesota Attorney General Lori Swanson has joined a group of law enforcers pushing for a narrow deal that would leave banks exposed to potential legal action in the future.

In a letter obtained by The Huffington Post, Swanson said any settlement with the group of banks over mortgage practices should exclude a release from claims over the creation of mortgage-linked securities. Swanson’s support for a narrow settlement unites her with New York Attorney General Eric Schneiderman and attorneys general from three other states, who have said the banks’ alleged wrongdoing hasn’t been investigated thoroughly enough to merit a broader release from legal liability.

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Category: Fraud

About the Author ()

Erich Vieth is an attorney focusing on consumer law litigation and appellate practice. He is also a working musician and a writer, having founded Dangerous Intersection in 2006. Erich lives in the Shaw Neighborhood of St. Louis, Missouri, where he lives half-time with his two extraordinary daughters.

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