Lt. Gov. Gavin Newsom Sends Letter to US Attorney General Holder and Antitrust Division
Lt. Gov. Gavin Newsom Calls Upon Attorney General Eric Holder to Review Threats of Retaliatory Actions by Mortgage Industry
September 10, 2012
Today Lt. Gov. Gavin Newsom called on Attorney General Eric Holder and members of the Antitrust Division of the Attorney General's Office to review the actions of some members of the mortgage industry, as well as federal agencies, who have coercively urged local governments to reject consideration of any proposal that would exercise the powers constitutionally granted local governments to use eminent domain to help stem the mortgage crisis.
"Communities have been ravaged by the housing crisis and now members financial sector, who has had long enough to fix the problem, are threatening to redline communities in California that are looking for unique solutions that may save thousands of families their homes," Newsom said. "I am asking the Attorney General to investigate and protect homeowners and their communities that simply want to find their way out of this mortgage crisis."
The full letter can be viewed by clicking here.