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

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