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Larson Statement on $25 Billion Mortgage Servicers Settlement


Location: Washington, DC

Congressman John B. Larson (CT-01) released the following statement today on the announcement of the state Attorneys General $25 billion settlement with mortgage servicers:

"I want to thank all of the Attorneys General, especially Connecticut Attorney General George Jepsen and former AG and current U.S. Senator Richard Blumenthal, for their work in securing this agreement. This agreement is a fantastic first step in obtaining justice for the hundreds of thousands nationwide and here in Connecticut that were victims of the unfair lending practices that led to the foreclosure crisis.

"Additionally, this settlement will offer aid to homeowners in need of loan modifications, payments to borrowers who lost their homes to foreclosure, and immediate payment to all the states, including Connecticut, who participated in this lawsuit.

"This settlement, combined with the many provisions passed through the Dodd-Frank Wall Street Reform Act, are helping Americans and ensuring that the policies that led to the 2008 financial crisis will not be repeated."

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