Foreclosure Monitor May Be Required in a Bank Deal, Jepsen Says
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A third-party monitor may be required as part of any settlement of a probe by 50 state attorneys general to ensure that banks comply with foreclosure practices, Connecticut Attorney General George Jepsen said.
A settlement should include a mechanism to supervise bank practices, Jepsen said yesterday in a phone interview. Jepsen, who succeeded Richard Blumenthal as attorney general, said the framework for any deal is months away. The third-party monitor could be a law firm, he said.