REPORT: The Major Banks Are About To Strike A Big, $20 Billion Foreclosure Settlement

kamala harrisCalifornia AG Kamala Harris is not on board

Photo: kamalaharris.org

The big banks are all up nicely, in part, perhaps, because of a Fox Business report about how they’re about to sign a foreclosure-gate settlement with the DoJ and most states attorneys general.A $20 billion settlement, which would go in part to some kind of victim “fund” could be hammered out in a matter of days.

Here’s the thing though: The last news from this front was that California had dropped out of talks, and so without California, it’s hard to imagine that any deal would involve the finality.

It’s also not clear that New York would be on board.

And of course, this is only one slice of the legal problems facing the banks: Notably this has nothing to do with the FHFA lawsuits on behalf of Fannie and Freddy.

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