Calabasas, CA (PRWEB) June 14, 2011
Philip Kramer, lead attorney for the Law Offices of Kramer and Kaslow is sharing his thoughts on the recent settlement between the Justice Department and two of the nation's largest banks. The New York Times reports on a settlement agreement between the Justice Department and two banks accused of violating the Servicemembers Civil Relief Act, a federal law that extends an array of financial and legal protections to military personnel.
According to the New York Times, “The Justice Department announced on Thursday that it had simultaneously filed and settled lawsuits against the two companies — a subsidiary of Bank of America formerly known as Countrywide Home Loans Servicing, and Saxon Mortgage Services, a subsidiary of Morgan Stanley.”
The New York Times goes on to report, “The companies were 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. Specifically, the companies were accused of ignoring a provision of the law that required 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 homeowners who are valiantly serving our nation,” André Birotte Jr, U.S. Attorney for the Central District of California, is quoted in the New York Times article. “Military families lost their homes when Countrywide violated the law, causing undue stress to wartime personnel who have been protected from such actions since the Civil War.”
The settlement has attracted a great deal of controversy in the legal community. Attorney Philip A. Kramer, senior partner at the law firm of Kramer & Kaslow, and a specialist in mortgage-related matters, expressed his outrage at the banks’ conduct, “As an attorney, I am appalled by the behavior of Bank of America and Saxon. I would not have agreed to a settlement in which there was no admission of wrongdoing. As an American, I am outraged. These are men and women who have risked their lives, who are hundreds of thousands of miles away from their families and loved ones. They are vulnerable in a profound way, and for the banks to take advantage of them – it’s unforgivable.”
More of Philip Kramer’s thoughts about the settlement can be found at the Kramer and Kaslow blog.
ABOUT PHILIP KRAMER
PHILIP A. KRAMER is the senior partner of the Law Office of Kramer & Kaslow, in Calabasas, California. Kramer & Kaslow is Martindale Hubbell “AV” rated. Mr. Kramer is a perennial recipient of the prestigious “Southern California Super Lawyer” award.
Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on business litigation, and real property matters. He has prosecuted and defended cases for over twenty five years.
Mr. Kramer is a licensed real estate broker and has spent considerable time providing legal services in connection with real estate issues relating to loan modification and loss mitigation, land use and zoning, environmental issues, easements, construction and development, finance, and landlord tenant matters.
Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 cases. He has appeared on nationally televised programs regarding pre-trial procedure and trial strategy and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of various legal and business issues.
Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.
Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in many companies. For more information call (818) 224-3900 or visit http://kramer-kaslow.com.