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Tag Archives: Citi

ABA chief says Weill ‘misguided’ in wanting big banks broken up

Who would have expected this reaction? The head of the American Bankers Association is disappointed and dismayed by the about-face Citigroup chairman emeritus Sandy Weill has done on breaking up the nation’s big banks. Push the pause button on such thinking, Frank Keating, ABA president & CEO, urges. Weill, often described as godfather to the too-big-to-fail movement, announced on CNBC ...

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State grabs $7.7M of foreclosure settlement

The mortgage foreclosure fiasco has turned out to be a bonanza of sorts for Mississippi state government. Mississippi’s general fund will receive a $7.7 cash infusion from the national legal settlement state Attorney General Jim Hood and 48 other attorneys general negotiated with giant mortgage servicers Bank of America, Citi, Chase, GMAC and Wells Fargo. The financial companies were forced ...

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Fewer than 5,000 Mississippi foreclosed homeowners to get financial settlements

About 4,235 Mississippi homebuyers whose homes were foreclosed on may be eligible for cash payments under a national settlement reached with five giant banks for fraudulent foreclosure practices, Attorney General Jim Hood’s office said. The national foreclosure fraud settlement provides an estimated $47.1 million in direct relief to Mississippi homeowners and addresses future mortgage loan servicing practices, Hood said soon ...

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Some states to use foreclosure settlement money to patch budgets

Seeing a chance to plug budget holes in their states, three governors are laying claim to portions of a recent $25 billion mortgage foreclosure settlement to be paid by five of the nation’s largest banks. Where authority for use of the money rests is not entirely clear. Some media reports say U.S., Attorney General Eric Holder and the 49 attorneys ...

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