A judge with the Suffolk County Superior Court in Massachusetts tossed out claims alleging JPMorgan Chase (JPM), Citigroup (C) and Wells Fargo & Co. (WFC) violated state consumer protection laws by launching foreclosures without actually holding the mortgage, according to Bloomberg News.
The decision handed down by Justice Judith Fabricant is both good news and bad news for the mega banks. While the judge tossed claims alleging the banks violated state consumer protection laws, the court kept accusations of mishandling foreclosures in Massachusetts alive.
The dismissed claims were related to the banks' registration of real estate records in the state.
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