Ingham official opposes immunity for banks
LANSING, MI –
An Ingham county official says a proposed multi-billion dollar settlement between the states and banks guilty of foreclosure fraud should not offer immunity. WKAR's Mark Bashore reports.
The tentative deal follows an investigation into some banks' use of bogus documents to seize homes.
Each of the 50 states has until Friday to sign on to a deal worth up to a total of $25-billion. Ingham county Registrar of Deeds Curtis Hertel says Attorney General Bill Schuette could "be a hero" for not accepting a deal that allows immunity.
"He has a chance to actually take those to task that illegal foreclosed on homes, and get criminal convictions," he says. "So far, he has had a great interest in doing that. Signing on to a settlement that would give them immunity would be a real problem."
Hertel says some lenders should be jailed for their actions.
A message seeking comment from the Attorney General's office was not returned.