The announcement that 49 states and the federal government had agreed to a $25 billion settlement with banks over mortgage servicing and foreclosure abuses meant a sleepless night for many of the attorneys involved in the historic deal.
The Justice Department’s Thomas Perrelli, a lead negotiator for the federal government, called the negotiations the most complex he has ever handled. “No question,” he said in an interview, describing the extensive communication with state attorneys general and representatives of the banks.
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