Major banks halt evictions for the holidays

Source: Brian Browdie, American Banker (Paid Registration)

Some of the nation's biggest lenders will suspend foreclosure activity to help borrowers remain in their homes for the holidays.

Wells Fargo (WFC), U.S. Bancorp (USB), PNC Financial Services Group (PNC), Bank of America (BCA), SunTrust (STI) and Citigroup (C) all said this week they plan to halt until after New Year's evictions of borrowers whose homes have been foreclosed on for loans the banks' own.

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