February 27, 2014 / 7:40 PM / 3 years ago

Societe Generale to pay $122 mln to resolve U.S. mortgage lawsuit

NEW YORK, Feb 27 (Reuters) - Societe Generale has agreed to pay $122 million to settle a lawsuit by the U.S. regulator for Fannie Mae and Freddie Mac over mortgage-backed securities.

The settlement, announced by the Federal Housing Finance Agency (FHFA) on Thursday, would resolve a lawsuit accusing the bank of misleading the U.S. housing giants in their purchase of $1.3 billion in securities.

The settlement marked the eighth to date by the FHFA, which in 2011 filed 18 lawsuits over some $200 billion in mortgage-backed securities that were at the heart of the 2008 financial crisis.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below