New York Attorney General Eric Schneiderman has complained that Wells Fargo is not doing its share to extend relief to mortgage borrowers in the state under a $25 billion nationwide settlement over foreclosure wrongdoings. He said Wells, which has provided relief valued at about $76,865 to 1,051 New Yorkers, is not pulling its weight compared other banks included in the settlement. JPMorgan Chase, for instance, offered assistance to twice as many New York borrowers, at an average value of $104,209. "We are concerned that Wells Fargo is underperforming compared to other banks," the AG stated. "By identifying this pattern early, there is still time to address this issue and increase activity so that Wells's customers will be afforded meaningful assistance to keep their homes." The bank maintains that it has fairly distributed aid in New York and also stressed that its relief effort focused largely on underwater borrowers -- which also factors into the numbers, as different types of help are assigned a certain number of credits that are then translated into dollar amounts.
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