Washington State

Office of the Attorney General

Attorney General

Bob Ferguson

SEATTLE — Attorney General Bob Ferguson today applauded President Obama’s recent push on a proposal to reform federal payday lending rules, while encouraging state legislators to reject a bill that purports to do the same thing. - See more at: /news/news-releases/ag-renews-call-reject-payday-lending-bill#sthash.kE1g23Cm.dpuf
SEATTLE — Attorney General Bob Ferguson today announced Standard & Poor’s Financial Services LLC will pay Washington state $21.5 million as a result of an investigation into the company’s misleading of investors when it rated structured finance securities in the lead-up to and the years following the 2007-08 financial crisis.
The Washington State Attorney General’s Office (AGO) and a special assistant attorney general recovered $31 million for the State Investment Board (WSIB) in a settlement announced today related to the 2008 collapse of Lehman Brothers, Inc.—the largest corporate bankruptcy in history.
$49M in principal mortgage reductions for struggling homeowners and $1,000+ cash payments to eligible foreclosed borrowers in Washington state   Tougher mortgage servicing standards hold Ocwen accountable for past practices, ensure fundamental servicing reforms   SEATTLE — Ocwen Financial Corporation of Atlanta, Georgia, and its subsidiary, Ocwen Loan Servicing, have agreed to a joint state-federal settlement with Attorney General Bob Ferguson, 48 additional states and the District of Columbia, and the federal Consumer Financial Protection Bureau (CFPB).
OLYMPIA – The Washington State Department of Financial Institutions (DFI) and the Office of Attorney General Bob Ferguson are pleased to announce the screening of American Winter at 6:30 p.m. Oct. 24 at the Grand Theatre in Tacoma. The documentary, directed by Emmy Award-winning filmmakers Joe and Harry Gantz (Taxicab Confessions, The Defenders), follows the personal stories of eight families struggling in the wake of the economic downturn. Shot over the winter of 2011-12 in Portland, OR, this powerful film reveals the human impact of budget cuts to social services, rising poverty and economic inequality, and the fracturing of the American Dream.
16,377 Washington state borrowers received relief Attorney General Bob Ferguson announced that the five banks covered under the National Mortgage Settlement have reported providing over $1.2 billion dollars in consumer relief to Washington homeowners. As of June 30, 2013, according to the unaudited bank reports, 16,377 Washington state borrowers have received an average of $74,763 in consumer relief. This relief includes debt reduction loan modifications on first and second mortgages, lower interest rates on underwater mortgages, and transitional assistance for those unable to remain in their homes.
In the year since state Attorneys General and the federal government reached a historic consumer protection settlement with the nation’s five largest banks, the banks report they have provided nearly $46 billion in gross relief to more than 550,000 borrowers, according to an independent monitor’s report released this morning.
SEATTLE – Thirteen Washington non-profit organizations will split the $43.8 million the state received to fund foreclosure relief as part of the landmark $25 billion national settlement with the country’s five largest mortgage servicers announced in February.
SEATTLE – Pam Bailey is one of millions of Americans laid off during the Great Recession. The single mom found herself out of a job in 2007 when the bank she worked for merged with another. Her job search was severely complicated by the crumbling economy and bills started to pile up. Bailey missed two mortgage payments on her Kent home.
President of National Association of Attorneys General addressed human trafficking, mortgage crisis ANCHORAGE, ALASKA – Washington State Attorney General Rob McKenna today concluded his term as president of the National Association of Attorneys General (NAAG), handing the gavel to Maryland Attorney General Doug Gansler.