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Kamala Harris explains decision to exit mortgage settlement talks

September 30, 2011 |  3:07 pm

California Atty. Gen. Kamala Harris just announced that she is bowing out of national efforts to reach a settlement with banks over their handling of mortgage foreclosures. 

She delivered the news to Iowa Atty. Gen. Tom Miller, who has been leading the efforts.

Read the letter: "There now exists a proposed settlement that is inadequate for California homeowners"

Kamala Harris Letter

RELATED:

California bows out of probe of mortgage lenders

Kamala Harris a key player in settlement over mortgage crisis

BofA, Chase must do more to help troubled homeowners, Obama administration says 

-- Alejandro Lazo and Nathaniel Popper

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