Attorney Gen. Martha CoakleyMassachusetts housing advocates and victims of the housing crisis are pressing Attorney General Martha Coakley to reject a settlement over foreclosure abuses that federal officials and other state attorneys general are negotiating with major U.S. banks.

Critics of the resolution are scheduled to gather at the Statehouse in Boston on Tuesday to rally against a reported $20-billion settlement they say amounts to "a slap on the wrist" for financial institutions whose practices helped fuel the economic crisis.

The agreement was supposed to settle claims of poor mortgage and foreclosure practices, including document fraud known as "robo-signing" – approving documents in foreclosures without actually reading them.

The settlement has been in the works between the banks and attorneys general in all 50 states. Critics say it gives banks too much legal immunity. (AP)

Mass. Pressed To Reject 50-State Foreclosure Deal

by Banker & Tradesman time to read: 1 min
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