PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Friday, December 2, 2011

Massachusetts Sues Banks For Deceptive Foreclosures

Attorney General Martha Coakley at a Boston news conference Thursday (AP)

The CEO of one of the five financial firms sued Thursday by Massachusetts for illegal and deceptive foreclosure practices is saying he’s disappointed by the lawsuit.

John Stumpf, of Wells Fargo, told CNBC that his firm had been negotiating with other state attorneys general to reach an agreement on home foreclosures.

But Massachusetts Attorney General Martha Coakley said that it was time to launch the first major legal action against Wells Fargo, Bank of America, JP Morgan Chase, Citigroup and GMAC. She said it’s been more than a year since states began investigating deceptive and sloppy foreclosure practices by banks.

“They’ve had more than a year to show they’ve understood their role, and the need to show their accountability for this economic mess,” Coakley said. “And they’ve failed to do so. That’s why we are filing suit.”

Guest:

  • David McLaughlin, reporter for Bloomberg News

Please follow our community rules when engaging in comment discussion on this site.
Spotlight

Throughout the week, Here & Now is looking at the impact a raise in the minimum wage would have on states, the federal government and workers.

Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

A Candid Conversation With Public Radio’s Diane Rehm

The radio show host discusses her husband's illness and their often fraught marriage.

The Average Millennial Is Nothing Like The Stereotypes

Data shows that the average 29-year-old did not graduate from a four-year university and is living in a suburb.

Examining The Call For Increasing The Minimum Wage

Here & Now looks at the impact a raise would have on states, the federal government and workers themselves.

April 29 17 Comments

What’s A Delegate? And Why Do We Even Have Them In The First Place?

Here & Now's Robin Young speaks with Richard Pacelle, professor of political science at the University of Tennessee, to find some answers.