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Schneiderman Removed from National Foreclosure Settlement Committee

Wednesday, August 24, 2011

WNYC

New York Attorney General Eric Schneiderman was removed from the executive committee negotiating a nationwide foreclosure settlement with U.S. banks on Tuesday.

Iowa Attorney General Tom Miller said Schneiderman was off the committee effective immediately because New York had worked to “undermined” the group’s efforts.

Schneiderman opposes any settlement that would result in the halting of criminal and civil investigations of fraudulent business practices by the banks that he has been pursuing separately.

He said he is committed to a comprehensive solution that provides homeowners “meaningful relief” and allows the housing market to recover, but that “ongoing investigations by attorneys general cannot be shut down by efforts to settle quickly and those responsible must be held accountable.”

The U.S. Justice Department and Miller have been leading 50-state talks aimed at helping homeowners through changes in foreclosure practices, setting terms for loan servicing and enacting debt reductions.

Disclosure: Schneiderman’s father, Irwin Schneiderman, is a member of the WNYC Board of Trustees and has been a long-time donor to the station.

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Comments [3]

Grace Leland from California

What possible reason has President Obama got for supporting the removal of Eric Schneiderman? Was he threatened? What's the purpose of initiating a settlement with the banks before completing an investigation? Unless you have something to hide or you're on the take I don't see any other reasonable explanation for this "inappropriate" behavior. I am grossly disappointed in Obama. Hats off to Eric Schneiderman, thank God people like you exist.

Aug. 25 2011 10:51 PM
Alfa 59

This is nothing but Bankers and Wall Street
Mogals in interfering with the legal process that would result in Criminal Prosecutions and Civil Investigations due to Fraudulent business practices by the banks upon the Homeowners. Where's the White House??
Their Silence is Deafing!!!!!!!!

Aug. 24 2011 09:06 PM
kruhl from New York

Schneiderman is the only one on that committee with balls. Hes got my vote. Dont give in to those scheisters.

Aug. 24 2011 08:00 PM

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