- Special Report: Syria's Islamists seize control as moderates dither
- Obama defends U.S. intelligence strategy in wary Berlin |
- Stocks, bond prices drop as Fed points to reduced bond buying
- Wall St. slumps after Bernanke hints at slowing bond buying |
- Prosecutors plan more charges against accused Cleveland kidnapper
U.S. regulator sues major banks over mortgages
WASHINGTON/NEW YORK |
WASHINGTON/NEW YORK (Reuters) - A U.S. regulator sued a series of big banks on Friday over losses on more than $41 billion in subprime mortgage bonds, which could hamper a broader government mortgage settlement with banks.
The FHFA accused major banks, including Bank of America Corp (BAC.N), its Merrill Lynch unit, Barclays (BARC.L), Citigroup (C.N) and Nomura (8604.T), of selling bonds backed by mortgages that should have never been packaged into securities.
(Reporting by Margaret Chadbourn in Washington and Jonathan Stempel in New York; Additional reporting by Lauren LaCapra in New York; Writing by Ben Berkowitz and Dan Wilchins; Editing by Carol Bishopric)
- Tweet this
- Share this
- Digg this