Banks Disagree Over Plan On Principal Reduction

Wednesday, April 14, 2010

At least one big bank is expressing reservations about the Obama administration's plan to address rising foreclosures. Officials have been encouraging banks to go beyond what they've done so farand reduce the principal on home loans that are "underwater." David Lowman of JPMorgan Chase told lawmakers that principal reductions could cost the industry up to $900 billion. WNYC's Ilya Marritz has more.


More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.


Latest Newscast




WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public


Supported by