(Source: Forbes Halah Touryalai) – What’s the worse than Bank of America acting as if it deserves immunity from all its  bad foreclosure behavior? A presidential administration that agrees.President Obama’s administration is putting pressure on New York Attorney General Eric T. Schneiderman to give into a deal with big banks that would block him from bringing future mortgage investigations, Gretchen Morgenson reports in The New York Times today.

For months, Schneiderman has said he will not agree to any nationwide agreement with banks that would block individual states from investigating the mortgage-servicing industry on their own. At one point Bank of America was said to be in talks to with state and federal officials without the involvement of Schneiderman. But now the pressure is on Schneiderman to join the agreement, say ‘okay’ and move on.

Source: Forbes Halah Touryalai

8/22/2011 @ 1:09PM

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