| 00:00:04 |
Unidentified Speaker, -
ATTORNEY GENERAL AND A GOOD FRIEND, LISA MADIGAN, AND SHAUN DONOVAN, AND GOVERNOR CEREBELLUM REST OF THE FEDERAL RESERVE. IN ANNOUNCING THE LARGEST SETTLEMENT...
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| 00:05:00 |
Unidentified Speaker, -
ATTORNEY GENERAL. IS AN HONOR TO BE HERE TODAY TO ANNOUNCE THIS SETTLEMENT. AT THE CORE OF ALLEGATIONS IS A SIMPLE STORY, IF YOU'RE AFRICAN- AMERICAN...
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| 00:14:21 |
Unidentified Speaker, -
THANK YOU. I WANT TO ADD MY THANKS AND MY GREAT DEBT OF EDITED FOR THE PARTNERSHIP OF ALL MY COLLEAGUES JOIN US TODAY, AND PRACTICALLY TO ATTORNEY GENERAL...
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| 00:19:02 |
Unidentified Speaker, -
PAST YEAR AND A HALF, I HAVE LITIGATED A FAIR LENDING LAWSUIT AGAINST COUNTRYWIDE FOR DISCRIMINATING AGAINST BORROWERS IN ILLINOIS. I AM VERY PLEASED...
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| 00:22:30 |
Unidentified Speaker, -
SOMEBODY ELSE? OK. WE'LL TAKE ANY QUESTIONS. >> THIS IS THE LARGEST
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| 00:22:38 |
Unidentified Speaker, -
IN HIS REPAIRED WHAT WAS THE PREVIOUS LARGEST, AND SEPARATELY, IS THE ILLINOIS SUIT BEEN DROPPED? >>
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| 00:22:46 |
Unidentified Speaker, -
SURE. THE ILLINOIS REGION WE WERE AT THE TABLE WITH ATTORNEY GENERAL LISA MADIGAN, AND THAT SETTLEMENT WILL RESOLVE IN ISSUES IN ILLINOIS A PAIR THE...
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| 00:23:11 |
Unidentified Speaker, -
WILL ATTEND THOUSAND BORROWERS STEERED INTO SUB-PRIME LOANS -- WILL THE 10,000 ARE WERE STEERED INTO SUB-PRIME LOANS GET HIGHER COMPENSATION, AND SINCE...
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| 00:23:31 |
Unidentified Speaker, -
WHEEL, IN FACT, GET HIGHER COMPENSATION BECAUSE THE HARM WAS GREATER. SO, FOR INSTANCE, IN CALIFORNIA, THE AMOUNT OF HARM WOULD BE GREATER BECAUSE HOME...
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| 00:25:31 |
Unidentified Speaker, -
INTERNAL COMPANY DOCUMENTS THAT LAID THE CELL TO YOUR ABLE TO REVEAL? >> I CANNOT COMMENT THAT --
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| 00:25:38 |
Unidentified Speaker, -
LATE THIS OUT THAT YOU ARE ABLE TO REVEAL? >> I CANNOT COMMENT
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| 00:25:42 |
Unidentified Speaker, -
ON THAT. THE COMPLAINT SPEAKS FOR ITSELF. >>
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| 00:25:47 |
Unidentified Speaker, -
CAN YOU TELL US ANYTHING ABOUT THE SERVICING SETTLEMENT, AND WHERE THAT STANDS? >> I AM HAPPY TO ADDRESS
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| 00:25:55 |
Unidentified Speaker, -
THAT. ONE OF THE THINGS THAT IS PARTICULARLY IMPORTANT ABOUT TODAY'S ANNOUNCEMENT IS THAT IT DEMONSTRATES THAT WHILE THE SERVICING DISCUSSIONS WE ARE...
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| 00:27:59 |
Unidentified Speaker, -
UNDERSTAND THE ANSWER ABOUT IF IT WAS ENOUGH FOR THE PEOPLE THAT WERE STEERED. IS IT PURELY A DAWDLED -- DOLLAR SETTLEMENT? IS THERE ANY RATE ELEMENT...
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| 00:28:16 |
Unidentified Speaker, -
DOES NOT CONTAIN ANY PROVISIONS AS YOU REFER TO. THIS SETTLEMENT WILL COMPENSATE VICTIMS FOR THE LOSS OF THEY'D BEEN INCURRED. THERE IS NOT A NEED --...
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| 00:28:54 |
Unidentified Speaker, -
WANT TO COMMENT ON ANY SPECIFICS FROM VIEW RACE, BUT WE HAVE ANNOUNCED A NUMBER OF -- FROM WHAT YOU RAISED, BUT WE HAVE ANNOUNCED INTENTIONS TO MEET...
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| 00:29:50 |
Unidentified Speaker, -
COUNTRYWIDE'S PROBLEMS BEHIND BANK OF AMERICA? ARE THERE ANY OTHER INVESTIGATIONS RELATED TO COUNTRYWIDE ACTIVITY THAT THE JUSTICE DEPARTMENT HAS AT...
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| 00:30:04 |
Unidentified Speaker, -
WITH THEIR FAIR LENDING MATTERS, AND THE SETTLEMENT EXPLICITLY INDICATES THAT THIS SETTLEMENT DISPOSES OF FAIR LENDING ISSUES DURING THE RELEVANT...
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| 00:30:36 |
Unidentified Speaker, -
RIDING OF THE REGULATIONS OF THE DEPARTMENT FOR DISSIPATES HIM, CAN YOU TALK TO US ABOUT WHAT COULD TOCURE THE PROBLEMS WITH THE LAW IN THOSE REGULATIONS?...
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| 00:30:52 |
Unidentified Speaker, -
THE LAW ENDED, AND WHERE IT STARTED. WE MADE SUBSTANTIAL PROGRESS IN MOVING FROM SOMETHING THAT WAS REALLY UNACCEPTABLE TO THE DEMONSTRATION, TO SOMETHING...
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| 00:31:45 |
Unidentified Speaker, -
UPDATE -- WIKILEAKS HAS BEEN IN THE NEAREST. DNA -- BEEN IN THE NEWS LATELY. YOU HAVE ANY UPDATE? >> I
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| 00:31:54 |
Unidentified Speaker, -
THINK WOULD BE INAPPROPRIATE TO COMMENT AT THIS POINT ABOUT WHERE WE STAND. >> ARE THERE ANY
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| 00:32:01 |
Unidentified Speaker, -
OTHER FAIR LENDING INVESTIGATIONS? >> WE HAVE
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| 00:32:05 |
Unidentified Speaker, -
A HOST OF OTHERS. >> THIS
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.