There's an idea being debated by the California Assembly's Committee of Bank and Finance. Some California lawmakers think banks should be charged $20,000 every time they want to foreclose on a home. "At the end of the day, we have a tremendous cost, collateral damage from foreclosures, and the banks are not paying it," said Bob Blumenfield, the San Fernando Valley, California assemblyman who authored the bill. "It's not like the banks are innocent in this." [WSJ]
Filed under:
Loading comments...