American Airlines and US Airways Group Inc. will have to divest assets at key airports across the country if they want to settle the U.S. lawsuit seeking to block their proposed merger, Attorney General Eric Holder said.
American Airlines Chief Executive Officer Tom Horton met with Florida Attorney General Pam Bondi to discuss ending the state’s role in a U.S. lawsuit to block the carrier’s proposed merger with US Airways Group Inc.
Florida, the U.S. state with the highest percentage of troubled mortgages, may collect almost one-quarter of the national $25 billion foreclosure settlement. For Cheryl Alexander, who had a court halt the forced sale of her home, that’s not enough.
When the largest U.S. banks agreed to pay $25 billion last year to settle claims of abusive foreclosure practices, they promised to stop seizing homes from borrowers who had completed applications for mortgage help.
U.S. and Florida officials said they filed almost 200 civil and criminal cases for timeshare resale frauds over the past two years as scams in the business have increased, with defendants now more likely to have violent and drug-related backgrounds.
California and New York, along with Florida, agreed to join more than 40 other states in a nationwide settlement 16 months in the making that seeks to end abusive bank foreclosure practices that followed the collapse of the housing bubble, a person familiar with the matter said.