NY AG: Wells Fargo slow in providing foreclosure aid
New York Attorney General Eric Schneiderman is concerned with Wells Fargo's pace in providing mortgage relief to state borrowers under a $25 billion settlement, an article in The Wall Street journal said.
So far, Wells Fargo believes it has paid out $3 billion of its obligation, the article states.
"We are concerned that Wells Fargo is underperforming compared to other banks," said Attorney General Eric Schneiderman. "By identifying this pattern early, there is still time to address this issue and increase activity so that Wells's customers will be afforded meaningful assistance to keep their homes."