New York Attorney General Eric Schneiderman announced this week that he plans to file lawsuits against Bank of America and Wells Fargo for failing to comply with servicing standards included in the $25 billion national servicing settlement. Other states appear likely to join the action, though the litigation might not have much of an impact on the servicers, according to industry analysts. “My office has received a significant number of complaints regarding the flagrant violations by Bank of America and Wells Fargo of the loan modification timeline requirements contained in [the settlement],” Schneiderman said in a letter to the committee monitoring the settlement. BofA and Wells, along with Ally Financial, Citigroup and JPMorgan Chase, have had to comply...