“The payout will mostly go to people who don’t deserve it; the banks’ liability is capped;”
No it is not. They can still be sued on the same claims in civil court by individuals.
If that is in fact correct, thank you for pointing it out. It changes a lot--the banks can't be sued anymore by the AGs, above and beyond the amount that is being wpecifically extorted in the settlement and being passed around. That makes it an election time bribe, because the money will go to people who don't necessarily deserve it. I'm glad to hear you think that individuals who have been defrauded can still sue for damages; I'm saddened that the government has piled on and named a capped price.