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AG investigating subprime lenders

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New York state Attorney General Andrew Cuomo’s office has launched an investigation into the practices of subprime lenders. Cuomo said at a news conference yesterday that his office is looking into the subprime mortgage market, but he did not disclose any details of the investigation, according to a spokesman. The move comes as shares of subprime lenders have sunk in the markets and foreclosures have spiked, especially among homeowners who had taken out subprime loans. more [Crain’s]

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