The title is of course an absurdly stupid question. The State of Florida is not at all in the business of holding any of the corporations who are licensed to steal from and abuse citizens and it’s certainly not in the business of enforcing any foreclosure-related abuses. Doing so of course makes it rather uncomfortable when it comes time to collect and cash all those campaign checks.
As we see especially during Florida’s two month legislative session, Florida’s Republican-dominated legislature is in the business of helping businesses take money from The People so that they can remit portions of those paychecks back to The Party in exchange for a more favorable legal and regulatory environment. Continuing the circle of corruption, the executive branch is likewise in the business of protecting and defending gross and abusive corporatism and ensuring that the consumer population continues to efficiently feed the corporate monsters.
We see this of course most prominently on display in the theater of foreclosure abuses, the banks, the foreclosure mills and their associated industries continuing on rampant tears of abuses. The National Mortgage Settlement was of course a scam and, as predicted, the abuses of the banks continue unabated.
Well, New York’s Attorney General is suing the banks for violating the terms of the agreement…perhaps he will get their attention….more here from Abigail Field:
When the National Mortgage Settlement was announced, I called it an enforcement fraud because every major law enforcement entity in the country signed off on letting banks overcharge people, use fake documents and otherwise abuse homeowners with impunity, so long as they didn’t do it too many people for six straight months. Pigs could get fat, hogs would get slaughtered. (The legalese is in the settlement is ” threshold error rate.”)
Or not; the maximum penalty for six months of too many violations was $1 million. Hard to see a deterrent effect of any kind in $1 million when the enforcement population is five of our biggest banks. (Sure, if the banks were really really bad in the same way for four total quarters the penalty could then be $5 mil, but c’mon, the settlement itself was more than 1000x that number, and the settlement didn’t drive change, it produced ” threshold error rates.”)
And when this deal was done, it had Eric Schneiderman’s signature on it, something he gave for a task force that was obviously staffed to fail, as I noted at the time. But now it seems he’s got buyer’s remorse.
Trying to Get Two Banks to Fix Four things
Now that that A.G. Schneiderman’s learned that Bank of America and Wells Fargo have failed to service 339 New Yorkers according to the standards dictated by the Settlement, he’s served notice he intends to sue. Not for money; for ” equitable relief.” That’s what he’s allowed to sue for, pursuant to Exhibit E, at J:
” Equitable Relief. An order directing non-monetary equitable relief, including injunctive relief, directing specific performance under the terms of this Consent Judgment, or other non-monetary corrective action.” (See Exhibit E at J2 and 3 here.)
Now if you really want to do your part….MAKE SURE YOU FILL OUT COMPLAINTS THAT DETAIL THE ONGOING ABUSES YOU’RE SUFFERING AT THE HANDS OF THE BANKS!