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NEW YORK CITY PENSION FUNDS CALL FOR INDEPENDENT AUDIT OF BANKS’ MORTGAGE AND FORECLOSURE...

NEW YORK, NY - November 16, 2010 - (RealEstateRama) -- New York City Comptroller John C. Liu, on behalf of the trustees of the New York City Pension Funds, is calling on directors at Bank of America Corporation (NYSE: BAC), Wells Fargo & Company (NYSE: WFC), JPMorgan Chase & Co. (NYSE: JPM) and Citigroup Inc. (NYSE: C) to conduct an independent audit of their banks’ mortgage and foreclosure practices. The four banks are the largest mortgage servicers in the country representing 56 percent of the nation’s $10.64 trillion mortgage industry