New York Attorney General Letitia James today announced the first settlements reached as part of her office’s compliance program focused on enforcing “de facto” rent stabilization in buildings throughout New York City. The Office of the Attorney General (OAG) has secured $90,000 from Deutsche Bank National Trust Company (Deutsche Bank) and U.S. Bank National Association (US Bank) as a result of their failure to register units in Brooklyn as rent-stabilized with New York State Homes and Community Renewal (HCR) following prior court decisions that found the buildings to be de facto rent stabilized. 

“No matter how big or powerful they are, banks are not above the law, and they cannot get away with failing to protect their tenants. My office created this compliance program to ensure all New York City tenants are treated fairly. We will not hesitate to take action against any bank that attempts to circumvent our rent stabilization laws.” – AG James