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State sues five big US lenders

AG alleges banks skirted rules, sped foreclosures

By Jenifer B. McKim

 |  Globe Staff  

  December 02, 2011

Massachusetts Attorney General Martha Coakley is suing five major US banks for allegedly seizing properties unlawfully, filing fraudulent foreclosure documents, and failing to help struggling borrowers who could have kept their homes if they had been allowed lower mortgage payments. The civil lawsuit - filed yesterday in Suffolk Superior Court - targets Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co, Citigroup Inc., and GMAC, a subsidiary of Ally Financial Inc.

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