Auctions: The New York gallery of Bonhams International Auctioneers and Appraisers recently sold historic artist Diego Velazquez's "Portrait of a gentleman" for a record $4,617,100.00! Congratulations to Bonhams!
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Mortgage Settlement: New York state mortgage lawsuit agreement made.
Five of the nation’s biggest banks have agreed to pay New York a total of $25 million to settle claims by the New York State Attorney General regarding their use of a private national mortgage electronic system, known as MERS.
The agreement, filed in federal court Tuesday, resolves certain monetary claims by the New York attorney general against Ally Financial Inc., Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co. and Wells Fargo & Co.
The agreement preserves the New York attorney general’s right to sue for damages suffered by consumers and to push for procedural changes.
In agreeing to the settlement, the banks neither admitted nor denied guilt.
The New York settlement was one of five side deals struck by the banks with individual states.
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