FDIC Sides With Investors Against BofA's $8.5-billion Settlement Proposal - Bradenton Short Sale Real Estate
In news that can't be anything but good in terms of helping to bring bankers to justice for their rampantly fraudulent mortgage practices, the Federal Deposit Insurance Corporation (FDIC) has positioned itself to intervene in settlement proceedings by filing an objection with the Federal Court in New York.
According to a post read at DSnews.com, the agency objects to a proposed settlement offer put forth by banking syndicate power-brokers on the grounds that they have not disclosed enough information to either the agency, or other affected parties. It is heartening to know that several major institutional investors, insurance companies, as well as six of the Federal Home Loan Banks have joined with the FDIC in its objection.
It is about time somebody did something to go after these crooks! We'll see how far they take . . .
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