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December 2, 2011

Massachusetts Sues Banks Over Foreclosure Practices 
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Massachusetts has filed suit against five major banks over their alleged
negligence in dealing with struggling homeowners. The lawsuit targets
Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and GMAC. The
banks are accused of "unlawful and deceptive" foreclosure practices
including unlawful foreclosures, false documentation, robo-signing, and
deceptive practices around modifying loans. The lawsuit could complicate
the ongoing talks between banks and state prosecutors nationwide over
reaching a comprehensive settlement over the same allegations. Details
of the settlement had been expected sometime this month.



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