Kamala Harris' mortgage meltdown record under scrutiny as campaign heats up

[namahage]

31. Do you know how long that civil enforcement would have taken?

Even the attorneys filing the memo admitted that there was substantial risk of litigation:

https://www.documentcloud.org/documents/3250383-OneWest-Package-Memo.html

Expected Outcome and Timeline: If the proposed enforcement action is authorized, the primary goals will be to obtain liability findings and to hold OneWest publicly accountable for its misconduct. If we succeed, we will seek extensive injunctive relief, penalties, restitution, and costs. We anticipate a removal fight, substantial motion practice, a civil discovery
process (because of our inability to subpoena OneWest and its obstructive conduct), and a trial. Absent settlement, we expect that the litigation will last 3 to 5 years.

Likelihood of Success: Moderate. The proposed enforcement action would be the first of its kind in California and it raises complex legal and factual issues which may lessen the prospect of settlement and/or require appellate review. If we take the enforcement action to trial, we face a higher than average risk that the court may choose to award minimal amounts in restitution and/or penalties. We nevertheless expect to obtain a liability finding and secure injunctive relief. We believe that there is substantial public justice value in fully investigating OneWest's conduct through the use of civil discovery and holding it publicly accountable, even if sizable penalties and restitution are not awarded.

Resources: We expect resource intensive and prolonged litigation. We will need 2-3 full-time DAGs, substantial SDAG time, auditor time, and paralegal time. Outside expert (testifying and consulting) support will be required to assist us as we review and evaluate data regarding the tens of thousands of relevant foreclosures conducted by OneWest.

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CONS:

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High potential for delays. For example, it could easily be a year or two before we get past the removal and pleadings stages into merits discovery.

We may be at odds with certain federal agencies. It is possible that the OCC will side with OneWest or that the FDIC will intervene.

Harris got a big win, instead of trying to pursue a costly, time-consuming, risky enforcement that could very well have failed. How many homeowners were you willing to sacrifice for your symbolic victory?

Oh, and that contribution from Mnuchin went really far, considering she then introduced a bill to make it easier for future state AGs to subpoena national banks (which had tied her office's hands previously), not to mention voting against his confirmation as Treasury Secretary.