President Obama’s New Task Force Supoenaed 11 Wall St. Banks

From Housing Wire

The new federal task force led by New York Attorney General Eric Schneiderman sent subpoenas to the 11 largest financial institutions in the past few days as part of its investigation into possible residential mortgage-backed securities fraud.

President Obama formed the task group and announced it during his State of the Union address Tuesday. Federal officials did not disclose which 11 banks have come under investigation.

Schneiderman said in a press conference Friday that he will be joined by Delaware AG Beau Biden, Massachusetts AG Martha Coakley, Nevada AG Catherine Cortez Masto, California AG Kamala Harris and Illinois AG Lisa Madigan.

Read more at Housing Wire

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