State AGs to Announce Probe on Foreclosures - FOX Business
Tweet
Share
E-mailGet Alerts JPM Hot Sheet
Join SI Premium – FREE
According to a report from FOX Business Network's Charles Gasparino, several dozen state attorney generals will announce a probe of the banking industry's mortgage foreclosure process on Wednesday.
The move will likely target every major bank in the country and will look into whether the firms followed procedures when foreclosing properties where mortgages were defaulted.
After becoming the target of scrutiny from state AGs, banks such as JPMorgan Chase & Co. (NYSE: JPM) and Bank of America Corp. (NYSE: BAC) have announced moratoriums on foreclosures.
Other banks such as Citigroup Inc. (NYSE: C) and Wells Fargo (NYSE: WFC) are likely to face similar probes from state AGs.
The move will likely target every major bank in the country and will look into whether the firms followed procedures when foreclosing properties where mortgages were defaulted.
After becoming the target of scrutiny from state AGs, banks such as JPMorgan Chase & Co. (NYSE: JPM) and Bank of America Corp. (NYSE: BAC) have announced moratoriums on foreclosures.
Other banks such as Citigroup Inc. (NYSE: C) and Wells Fargo (NYSE: WFC) are likely to face similar probes from state AGs.
Are you missing key trading opportunities? Upgrade to StreetInsider Premium and get a step ahead of the market - FREE TRIAL!
Create E-mail Alert Related Categories
Insiders' BlogRelated Entities
Charles Gasparino, JPMorgan, Citi, Bank of AmericaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
