New York Attorney General Eric Schneiderman today filed a lawsuit against Bank of America, JPMorgan Chase, and Wells Fargo charging that using Mortgage Electronic Registration Systems' (MERS) electronic mortgage registry has resulted in a wide range of deceptive and fraudulent foreclosure filings in New York state and federal courts.

The lawsuit asserted that employees and agents of the three banks, which have acted as "MERS certifying officers," have repeatedly submitted court documents that have false and misleading data. The information in these documents made it appear that the foreclosing party had the authority to bring a case when in fact it might not have.

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