Kamala Harris (D-CA Attorney General) a key player in settlement over mortgage crisis

[TomCADem]

Source: LA Times

California Atty. Gen. Kamala Harris has emerged as a key player in pursuing a nationwide settlement with major U.S. banks accused of wrongful foreclosures and is facing increased pressure from consumer groups seeking help for homeowners devastated by the mortgage crisis.

Harris, who was in closed-door talks with banks Friday, has been negotiating with the five largest mortgage servicers for months as part of a coalition of attorneys general and federal agencies seeking to a hammer out a deal surrounding allegations that banks committed widespread foreclosure errors.

Those involved in the talks see Harris' involvement in any settlement as crucial because of California's size and because so many home repossessions are concentrated in the Golden State.

The importance placed on California puts Harris in a significant position to hold banks accountable for improper foreclosures. She has been the subject of increased pressure from advocates who say she has not done enough to battle banks' efforts to get off lightly.


Read more: http://www.latimes.com/business/la-fi-0924-harris-mortgage-probe-20110924,0,1152055.story

[zalinda]

1. And watch them get away with paying a pittance

How about those people who got their homes ripped out from underneath them, but couldn't afford a lawyer to fight it? Will they get anything? Or will these banks pay a small 'penalty' to the government, and now the case is closed?

zalinda

[sulphurdunn]

2. "allegations that banks

committed widespread foreclosure "ERRORS" Journalism. You gotta love it. :rofl:

[EFerrari]

3. If she slow walks this any slower

we'll have to put a historical marker on her.

[sulphurdunn]

4. Yea,

you might not want to mess with financial institutions that own their regulators and have a no deductible, no premium, full coverage, public insurance policy against financial loss? No wonder the bankers drink champagne on the balcony while laughing at the suckers way down on the street.

[annm4peace]

5. She is under alot of pressure

please call her office with support. We need to keep these DA's strong.