Executive Council tables AG plan to spend millions from settlement with banks
NASHUA – Saying they wanted more accountability, structure and information Wednesday, the Executive Council put off action on the Attorney General's plan to use $9.5 million of a $40 million settlement the state is receiving from major banks over foreclosure proceedings.
Attorney General Michael Delaney wants to use $2.5 million of the money to establish a fraud investigative unit, $3.5 million to establish a counseling network for homeowners going through foreclosure or who have gone through it, and $3.5 million to hire attorneys to help foreclosed homeowners with legal issues.
“This is a little too loose,” said District 3 Councilor Chris Sununu, R-Newfields. “I think we all agree there is great value here, we do want to see the money go out.”
Gov. John Lynch told the council there also is a fundamental disagreement on how to proceed with the fraud investigation unit that will need to be resolved before another vote is taken.
The council directed Delaney to come back with a more detailed proposal at its next meeting Sept. 19.
- With non-critical federal services shutting down and no budget deal in sight, whom do you blame for the impasse?
- Both are to blame
- Total Votes: 2194
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