Wednesday, February 8, 2012

Bank deal down to the wire

The foreclosure fraud settlement is coming down to the wire. Can you call President Obama and ask him to oppose any settlement deal that would give banks broad immunity or fail to create real, enforceable, help for homeowners?

White House comment line:

Report your call
Dear MoveOn member,

This time we're really down to the wire. Five big Wall Street banks and a roomful of state attorneys general are making the final decision on whether homeowners who were illegally foreclosed on are going to get a fair shake.1

They're negotiating the final terms of a settlement deal that will either bring real relief to homeowners or let banks off the hook for many of their most harmful practices. And the big banks don't just want immunity from future investigations, they want an end to the lawsuits already filed by New York, Massachusetts, and Nevada.2

Details of the settlement have not yet been released, which means we can still work to make sure that any deal state attorneys general reach with the big banks includes real help for homeowners across the country, with strong enforcement and no broad immunity for wrongdoing.3

President Obama supported an investigation of the Wall Street bank practices that caused the crash, but now we need him to stand up for homeowners by opposing any settlement deal that would let banks off the hook or fail to create real, enforceable help for homeowners.

White House comment line: 202-456-1111

Then click here to report your call.

We're in the last few days of negotiation on this multistate settlement, and the big banks are holding up help for those hurt by their fraudulent practices because they want to be let off the hook completely for robo-signing and foreclosure fraud.4

The president can make a real difference for homeowners right now by insisting that a deal include real, enforceable help for homeowners, and not give big banks broad immunity. Can you call and ask President Obama to do right by homeowners and hold banks accountable?

White House comment line: 202-456-1111

Then click here to report your call.

Thanks for all you do,

–Elena, Milan, Tate, Amy, and the rest of the team


1. "Deal Is Closer for a U.S. Plan on Mortgage Relief," The New York Times, February 5, 2012

2. "Foreclosure deal deadline arrives, not all states are yet on board," The Washington Post, February 5, 2012

3. "The Great Task Force and Settlement Debate," The Huffington Post, February 2, 2010

4. "America's Biggest Banks: Poor, Poor Pitiful Us," Daily Kos, February 8, 2012

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