Pursuits
Foreclosure Accord, Stanford, J&J, Gupta, BP in Court News
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California and New York, along with Florida, agreed to join more than 40 other states in a nationwide settlement 16 months in the making that seeks to end abusive bank foreclosure practices that followed the collapse of the housing bubble, a person familiar with the matter said.
The decision by New York Attorney General Eric Schneiderman and California Attorney General Kamala Harris ensures the settlement has the backing of two officials who had been among the most outspoken in pushing for changes. The deal may be worth as much as $39 billion, according to the person, who declined to be identified because the terms haven’t been made public.