Friday, September 7, 2012

Fraud

"U.S. state attorneys general are pressing four banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors this year, according to three people briefed on the matter.

U.S. Bancorp, PNC Financial Services Group Inc., SunTrust Banks Inc. and HSBC Holdings Plc have held talks with state and federal officials who investigated claims that loan servicers mishandled foreclosure documents, according to the people, who spoke on condition of anonymity because the talks are private."

Wow and who gets the settlement money--not the people that were hurt, the state gets it.

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