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It will be awhile before NH sees a dollar of the historic bank settlement

After announcing New Hampshire’s share of a $43 billion multi-state settlement with the country’s biggest banks, the Granite State’s officially in waiting-game-mode.  Although the settlement was announced in February, it didn’t get the official approval until April.  Now, banks have to sift through paperwork, which could take months.  As Jake Berry explains in the Nashua Telegraph:

“Because the money will be distributed directly from the five banks [Bank of America, Citigroup, GMAC, JP Morgan Chase, Wells Fargo], rather than the state or federal government, it’s impossible to tell how many people will receive money under the settlement. But Delaney said Monday that the number of homeowners calling the attorney general’s office for assistance has tripled since the settlement was announced.” Continue Reading →