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October 4, 2012

Obama's mortgage task force sues JPMorgan

The head of President Obama’s mortgage fraud task force has filed suit against JPMorgan over widespread fraud in the marketing and selling of mortgage-backed securities.

New York Attorney General Eric Schneiderman filed suit in the state’s supreme court Monday, charging the banking titan with “systemic fraud” in the packaging, marketing, and selling of securities backed by residential mortgages. The suit marks the first of its kind filed by Schneiderman against a bank since being charged by Obama with sniffing out mortgage fraud in the buildup to the financial crisis.”

Read Peter Schroeder’s full article here

 
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