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New York State files suit against Wells Fargo for failure to meet settlement terms

Accuses the bank of dragging its feet in assisting struggling homeowners

The state of New York has suited Bank Wells Fargo & Co. for failing to commit to terms they agreed to in a $25 billion settlement to aid struggling homeowners. New York Attorney General Eric Schneiderman has accused the bank of that failing to help struggling homeowners by intentionally delaying the negotiation of mortgage term modifications.

AG Schneiderman filed suit in a Washington federal court again both Wells Fargo and Bank of America, with a motion to enforce the terms of change that both previously agreed to. Bank of America is in the process of changing its policies to match the agreement in reaction to pressure.

Executive Editor

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Chris DiMarco

Chris DiMarco, Executive Editor of InsideCounsel magazine, has a background in multimedia production with previous involvement in projects in which he developed and created content...

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