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Schneiderman Axed from Mortgage Investigation by Iowa AG By Rebecca E. Neely This week, Eric T. Schneiderman, New York’s Attorney General, was axed from a committee of state attorneys general who are investigating the foreclosure and mortgage abuses that greatly contributed to the economic crisis in 2008.
Iowa Attorney General Tom Miller is the leader of the committee, and was quoted as saying in the legalnewsline.com article that Schneiderman had ‘’actively worked to undermine’’ the committee’s efforts. The move might lead one to believe Miller forgot he and Schneiderman are on the same side. The register of deeds for Southern Essex County in Massachusetts, John L. O’Brien, was quoted as saying in the August 24th legalnewsline.com article, ‘’Iowa AG feels backlash for Schneiderman’s removal’’: ‘’It is a travesty of justice to have him removed when he is speaking on behalf of the American homeowners. We need more Eric Schneidermans fighting the fight.’’
damage they caused and it appears he was punished for his tough stand.’’ The players include state attorneys general, the U.S. Justice Department, Treasury Department and the new Consumer Financial Protection Bureau, as well as the five mortgage servicers – Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co., Citigroup Inc. and Ally Financial Inc. Over the past few months, Schneiderman has expressed concerns about the proposed settlement, saying, per the August 23rd nytimes.com article, ‘’Shake-Up in Mortgage Investigation,’’ he doesn’t agree with a settlement that releases banks from legal consequences regarding their mortgage activities.
Hear hear! The Iowa Citizens for Community Improvement is a grassroots based organization of people ‘’who talk, act and get things done on critical issues affecting everyday Iowans’’, per information at the organization’s website, and was quoted as saying in the legalnewsline.com article that: ‘’Schneiderman has been leading the push among all the state’s attorneys general for the strongest settlement possible. He has steadfastly refused to grant the big banks immunity for the
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Per the nytimes.com article, Danny Kanner, a spokesman for Mr. Schneiderman, was quoted as saying that Schneiderman is ‘’committed to a comprehensive resolution that will provide homeowners meaningful relief to stay in their homes, allow the housing market to begin to recover, and get our economy moving again.’’ In addition, Kanner was quoted as saying that: ‘’investigations by attorneys general cannot be shut down by efforts to settle quickly and those responsible must be held accountable.’’
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