Spire Law Group Announces Massive Violations of National Bank Settlement
Legal Watchdog Sees Large Waive of Lawsuits and Governmental Intervention On The Immediate Horizon
The so-called "national bank settlement" was entered into on April 4, 2012 between the major banks (Bank of America, Wells Fargo Bank, J.P. Morgan Chase, Ally Bank and others), on the one hand, and the United States of America and most of the 50-States thereof, on the other hand, calling for homeowners nationwide to receive, among other things:
a. Billions of Dollars of reductions in principle and interest on their home loans;
b. Billions of Dollars of payments for wrongful foreclosure by the settling banks;
c. Assurances that their bank would assign a single point of contact with which to interact, and thus secure for homeowners all benefits to which they are entitled to under the Settlement;
d. Assistance on short sale attempts by homeowners so that a bank cannot derail an otherwise good faith short sale effort by homeowners; and
e. Salutary protection for homeowners that "Third Parties" (law firms or foreclosure agents) not be permitted into the bank servicing process without daily monitoring by banks and their affiliates.
If followed, the so-called "national bank settlement" was calculated by governmental agencies to mark the beginning of the end of the 2008 bank crises which ultimately led to the artificial housing crises. According to Mr. Fiedler, "what Spire was the first to discover, and the first to disclose, was international money laundering being at the root of every bank action taken toward a United States citizen. These facts were then confirmed in a 300-plus page Senate report. All of the foregoing bank problems would finally end if the so-called "national bank settlement" were complied with. Unfortunately, most of the larger banks like Bank of America, Wells Fargo Bank and J.P. Morgan have ignored their obligations and conducted business as usual through their attorneys and other agents."
In one case emblematic of the fraud and deceit of these banks, the Firm reports that representatives of Wells Fargo Bank have been caught on a tape-recording stating there is no "national bank settlement" and it has no "single point of contact."
Mr. Fiedler has outlined the arsenal used by the Firm in protecting its clients as including qui tam actions, more specifically tailored "one-on-one" lawsuits (which was not possible in prior years), mass tort lawsuits, class action lawsuits and the Firm's continued close cooperation with various governmental agencies to attempt to stop "the bankster kind of deceit we have been seeing now for more than four (4) years."
Spire recommends that each homeowner read the bank settlement and directly talk to his or her bank requesting compliance therewith. Copies of the bank settlements are available for easy viewing on the Firm's website, [url=http://"www.spirelawgroupllp.com.]"www.spirelawgroupllp.com." According to Mr. Fiedler, many banks and third party servicers and law firms will -- if prodded -- comply with the settlement. "However, unfortunately overall compliance with the Settlement is not occurring and mass consumer and governmental intervention in our nations' courts will continue to be the only means of protection for the public as a whole."
"In the end, the corruption and 'drug cartel-like bank misconduct' will ultimately yield to robust national police enforcement of the 'bank settlement.' That, however, will be a long time coming and most likely not during the current administration." Mr. Fiedler continued by pointing out that "every American may by law enforce the national bank settlement in the District of Columbia." "It is important that the folks know this, and contact us and/or their lawyer of choice and/or their or congressman, to push the banks toward compliance with the Settlement."
As always being the leader in tackling corruption, Spire Law Group, LLP will be present with an ever-growing arsenal of legal weapons to stop the bank malfeasance that comes along with "the power of money."
About the National Bank Settlement
The so-called "national bank settlement" was entered into after Spire Law Group, Inc.'s founding partner -- Mitchell J. Stein -- formerly a lawyer for the FDIC during the 1990 Savings and Loan Scandal, filed (on behalf of homeowners) the first "post-meltdown" bank lawsuits against Bank of America and others. Mr. Stein then became the object of significant corruption now being litigated in courts across the country, from San Francisco to Florida, and from Los Angeles to New York. During the course of this battle, Mr. Stein and an army of investigators and lawyers worked with the United States Senate and the United States Department of Homeland Security uncovering massive international money laundering and what the United States of America referred to in writing as "unsafe" foreclosure practices by our nation's banks. Ultimately, States Attorneys General -- who had scoffed at mass tort litigation against banks as first initiated by the Firm -- filed their own mass tort litigation, which proved to be the largest group of mass tort actions in the history of the United States. These mass tort actions filed against the nation's banks -- using the template of Spire Law Group, LLP's initial 2009 lawsuit called Ronald v. Bank of America -- eventually led in April, 2012 to a "national bank settlement" where the nation's banks agreed to large principle mortgage reductions, damages payments, qui tam settlement payments, single point-of-contact requirements, third party monitoring by banks of their agents and lawyers, loan modification and short sale assistance for homeowners, and numerous other provisions. The "national bank settlement" allows any aggrieved homeowner to sue directly in the District of Columbia for violation of the Settlement. The Settlement is now in the process of implementation, and the actions by banks thereunder are already controversial and violative of the spirit of the Settlement.
About Spire Law Group, LLP
Spire Law Group, LLP is a national law firm whose motto is "the public should be protected -- at all costs -- from corruption in whatever form it presents itself." The Firm, registered in Delaware and elsewhere nationally and internationally, is comprised of lawyers with more than 250-years of experience in a span of matters ranging from representing large corporations and wealthy individuals, to also representing the public at large. The Firm is always at the front lines litigating against corrupt government officials, banks, defunct loan pools, foreign money laundering agents of the foregoing, and other enemies of the State and its citizenry. The foregoing description, or this entire press release, may constitute attorney-advertisement and represents only the opinions of Spire Law Group, LLP and merely constitutes achieving the Firm's intention of disclosing general information it deems important or helpful to the public. The foregoing does not constitute legal advice or the creation of an attorney client relationship. No person may have an attorney client relationship with Spire Law Group, LLP absent a fully signed, authentic, retention agreement countersigned twice by James N. Fiedler as the Managing Partner of Spire.
James N. Fiedler
Spire Law Group, LLP
New York, NY
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Spire Law Group, LLP
New York, NY
Spire Law Group, LLP
New York, NY