Cohen Statement on Nationwide Mortgage Settlement with Top Five Banks
Statement
Issues: Housing and Property
Congressman Steve Cohen (D-TN-9) today issued the following statement on today's $26 billion settlement between the Attorneys General of 49 states, excluding Oklahoma, and the nation's five largest mortgage lenders.
"Today's settlement is a start towards addressing the root causes of the mortgage meltdown, but more needs to be done," Congressman Cohen said. "The housing crisis has evaporated the wealth of middle-class homeowners and has reversed the financial gains made by homeowners in Memphis and Shelby County. I will continue to fight for legislation that ends predatory or deceptive lending practices."
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