1. Archive

Advocacy groups say Bondi is too soft on big banks

A coalition of clergy and community leaders plans to pay Attorney General Pam Bondi an unfriendly visit on Monday.

The groups, PICO United of Florida and Focus Orlando, say they are dissapointed by rumors Bondi isn't pushing for harsher penalities for banks as she leads a coalition of states in negotiating a settlement. The activists said they will show up at her office on noon Monday to drop off a statement airing out their grievances and urging stronger action.

"Ms. Bondi's attitude demonstrates how out of touch she and the rest of Tallahassee is with everyday people," said Trenise Bryant, a resident of Miami and leader of the Miami Workers Center, via a news release. "We need a settlement that repairs the harm that was done to homeowners in our community, not one that lets banks off the hook."

The groups believe Bondi should reject any settlement that "would grant the banks a broad release from liability for their actions" and urged her to launch a wide-ranging investigation into how mortgage fraud has contributed to the state's housing market collapse, the news release said.

Settlement discussions are ongoing, but Bloomberg reported Friday that banks may be released from claims involving certain types of documentation errors but could still face criminal prosecution and other civil lawsuits. Several state attorneys general have either dropped out or threatened to withdraw from the settlement if if prohibits further action against the nation's largest banks.

Posted by Tia Mitchell at 6:56:54 pm on January 27, 2012