LAS VEGAS (AP) - Nevada's attorney general said Monday she's
still studying a multi-state settlement over foreclosure abuses and
isn't ready to sign on to a deal that would require the nation's
five largest mortgage lenders to reduce loans for about 1 million
borrowers.

State Attorney General Catherine Cortez Masto said the state
hardest hit by foreclosures, bankruptcies and unemployment should
be able to get a better deal than the one on the table.

"My office is continuing to review the intricate draft
settlement terms and advocating for improvements to address
Nevada's needs," Masto said in a statement. "Receipt of important
state specific information is necessary to make our determination
and my office is still in discussions regarding that information."

Nevada is among a handful of states including California, New
York, Arizona and Delaware that had not joined the settlement by a
Monday deadline set by the nation's state attorneys general.
Officials say a deal might not be finalized for days.

Homeowners in states that opt out of the deal wouldn't share in
the settlement money. The deal is subject to approval by a federal
judge.

The five lenders - Bank of America, JPMorgan Chase, Wells Fargo,
Citigroup and Ally Financial - have agreed to the settlement.
States that sign on would agree not to pursue further civil court
investigations against the banks. The deal would not protect the
banks from criminal liability.

Masto and California Attorney General Kamala Harris have
criminal mortgage fraud investigations ongoing in the two states,
and have promised to combine resources and share information about them.

Under the settlement, the mortgage principal for homeowners
would be written down by an average of $20,000. Another 750,000
Americans - about half the households eligible for aid under the
deal - would receive about $2,000.

A coalition of Nevada activist and labor groups calling
themselves Nevadans for a Fair Settlement and headed by the
Progressive Leadership Alliance of Nevada issued a letter Monday
urging Masto to stand her ground and reject any unfair deal.

"Like you, we are gravely concerned by issues you have raised
about the deal, in particular reports that California will receive
an unfair portion of the mortgage settlement," the letter said.

"Families in Nevada have been devastated by the actions of the
banks, with too many losing their homes and everything they worked
for," PLAN official Michael Ginsburg said in a statement. "We are
counting on the attorney general."