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Foreclosure Reform: NY Attorney General and Jon Stewart Represent Choir of People Speaking Out

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Last week, NY Attorney General Eric Schneiderman announced a lawsuit against Bank of America and Wells Fargo for continuing fraudulent foreclosure practices even after a settlement had been reached last year to fix such problems.

In the announcement Schneiderman said that “The five mortgage servicers that signed the National Mortgage Settlement are legally required to take specific, rigorous, and enforceable steps to protect homeowners. Wells Fargo and Bank of America have flagrantly violated those obligations, putting hundreds of homeowners across New York at greater risk of foreclosure.”

The attorney general followed up those remarks on Monday in a segment on Christopher Hayes’s “All In,” where he said, “the problem is the banks have overwhelming confidence that law enforcement is not taking this seriously. They have overwhelming confidence that whatever the rules are, they won’t be followed up on.”

These comments in turn were followed by a segment from Jon Stewart’s The Daily Show, which focused on foreclosure fraud. Stewart showed clips from Hayes’s segment and then expressed irritation that the same Wall Streeters who practice these illegal foreclosure practices spend time in the Caribbean instead of in jail.

Hopefully these sentiments will continue to build until we see legitimate reform and homeowners get treated fairly. Both clips are below:

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