Arizona attorney general meets with other AGs, bank executives about mortgage lending

Ariz. AG, bank execs meet about mortgage crisis

PHOENIX — Arizona Attorney General Terry Goddard will be in Washington on Thursday to meet with executives from some of the nation’s largest banks.

They will discuss ways to minimize the next wave of foreclosures facing homeowners and commercial mortgage borrowers.

Goddard will be joined by AGs from other states hardest hit by the mortgage crisis.

He also will be meeting with members of Arizona’s congressional delegation to urge them to preserve states’ legal rights to protect consumers from abusive lending schemes.

Several potential amendments to the financial regulatory reforms proposed by the Obama administration would limit the authority of state attorneys general to protect consumers from mortgage fraud and hold national lenders accountable for predatory behavior.