Mass. AG Sues Major Banks

Massachusetts Attorney General Martha Coakley is going after the banks, filing suit against Bank of America, Wells Fargo, JPMorgan Chase, Citi, and Ally Financial for unlawful mortgage practices. A statement from her office said the “lawsuit seeks accountability for the banks’ unlawful and deceptive conduct in the foreclosure process, including unlawful foreclosures, false documentation and robo-signing.” Last month Coakley said she was no longer confident that settlement negotiations between lenders and an alliance of attorneys general would be successful.