Calabasas, CA (PRWEB) June 14, 2011
Philip Kramer, lead lawyer for the Law Offices of Kramer and Kaslow is sharing his thoughts on the recent settlement between the Justice Division and two of the nation’s largest banks. The New York Instances reports on a settlement agreement in between the Justice Department and two banks accused of violating the Servicemembers Civil Relief Act, a federal law that extends an array of monetary and legal protections to military personnel.

According to the New York Instances, The Justice Department announced on Thursday that it had simultaneously filed and settled lawsuits against the two firms a subsidiary of Bank of America formerly recognized as Countrywide Property Loans Servicing, and Saxon Mortgage Services, a subsidiary of Morgan Stanley.

The New York Instances goes on to report, The organizations have been accused of knowingly and repeatedly violating the Servicemembers Civil Relief Act, a federal law that extends an array of financial and legal protections to military personnel. Particularly, the organizations had been accused of ignoring a provision of the law that necessary them to get court orders before foreclosing on active-duty service members.

Countrywide Home Loans failed to protect and respect the rights of our servicemembers, failed to comply with clearly mandated procedures and foreclosed against property owners who are valiantly serving our nation, Andr