Foreclosure-Gate: New York AG Kicked Off Foreclosure Settlement Panel

08-24-2011 • Businessinsider.com

New York Attorney General Eric Schneiderman was kicked off the 13-person executive committee for negotiating a nationwide foreclosure settlement with U.S. banks, Bloomberg reported. Iowa Attorney General Tom Miller said in a statement yesterday that Schneiderman's office had "actively worked to undermine" the effort. From Bloomberg: “New York has actively worked to undermine the very same multistate group that it had spent the previous nine months working very closely with,” said Miller, who is leading the state group. For a member of the executive committee, that “simply doesn’t make sense, is unprecedented and is unacceptable,” Miller said. Here's one example how he may have been "undermining" the effort. A few days ago Schneiderman reportedly had a heated conversation at a memorial service with Kathryn Wylde, a member of the board of the Federal Reserve Bank of New York, over the foreclosure settlement deal.