Coakley Suing Five Major Banks Over Foreclosure Practices

NEW YORK (AP) — Massachusetts is suing five major banks including Bank of America Corp. and JPMorgan Chase & Co. over deceptive foreclosure practices.

The lawsuit also names Wells Fargo & Co., Citigroup Inc., and Ally Financial. It was filed in Massachusetts Wednesday by Attorney General Martha Coakley.

The complaint also names Mortgage Electronic Registration System, Inc. and its parent company as defendants.

The lawsuit is seeking redress for what Coakley calls “unlawful and deceptive” conduct in the foreclosure process, including unlawful foreclosures, false documentation, robo-signing, and deceptive practices related to loan modifications.

Copyright 2011 The Associated Press.

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