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Take that to the bank

Gazette staff February 15th, 2012

All but one state will be divvying up more than $25 billion as part of a foreclosure fraud settlement involving the nation’s five largest banks. The lone state to go its own way?

Oklahoma, of course.

Attorney General Scott Pruitt protested that the national settlement against the banking titans — Wells Fargo, Citigroup, GMAC, JPMorgan Chase and Bank of America — had morphed into an Obama administration overreach for a regulatory overhaul. 

Instead, Pruitt cobbled the state’s own settlement with the banks, ensuring $18.6 million for Oklahoma. Compare that to what the New York Observer reports could be more than $1.5 billion for Nevada alone.

Proponents of the 49-state settlement say it will provide money for legal aid services, refinancing for homeowners, foreclosure mitigation programs and the like.

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02.16.2012 at 07:41 Reply

Great job Scott!  

Way to stick it to Oklahoman's who have already gotten the shaft.  Are YOUR political interests so hardened that you have no conscious about hurting those you supposedly serve?