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Released: January 08, 2013
Banks, regulators reach mortgage settlements
Source: E. Scott Reckard & Jim Puzzanghera, L.A.Times (Free Registration)
In two of the biggest civil settlements since the financial crisis, the nation's biggest banks agreed Monday to cough up nearly $19 billion to resolve federal allegations of mortgage misdeeds.
In one case, 10 banks settled with regulators for $8.5 billion. In the second, Bank of America Corp. agreed to pay almost $10.4 billion to Fannie Mae, the giant loan buyer that the U.S. seized and propped up with tens of billions of taxpayer dollars.
Read Full Article: Banks, regulators reach mortgage settlements
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