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New York Attorney General Eric Schneiderman recently announced a settlement deal with Bank of America and Citigroup in which the banks will provide $75 million to build or rehabilitate 2,300 rental units in the city and 1,500 elsewhere in the state. The money, which would be used to fund low-interest loans, will count as “consumer relief” that the banks pledged to provide under multibillion-dollar national settlements last year.
