Posted at: 10/02/2012 4:44 PM
| Updated at: 10/02/2012 6:08 PM
By: WNYT Staff
New York Attorney General Eric Schneiderman has hit JPMorgan Chase with a civil lawsuit.
It's the first lawsuit filed by the task force President Obama created to hold institutions accountable for their role in the fiscal crisis.
“You certainly don't deter unlawful conduct by giving people a pass and I think one of the complaints I've heard a lot from folks in New York State and all around America is the sense that there hasn't been accountability for the financial institutions that really brought about this incredible housing bubble and crash and created the deepest recession since the 1930's,” says Schneiderman.
JPMorgan Chase says it plans to fight the allegations in the lawsuit.