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US Sues Major Banks Over Faulty Mortgage-Backed Stocks

Posted September 2nd, 2011 at 5:15 pm (UTC-5)
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The U. S. government has filed lawsuits against 17 major banks, saying the government lost money — and the 2008 financial crisis was sparked — in part because these banks made their mortgages seem less risky. The Federal Housing Finance Agency said Friday their review shows that the banks provided marketing and sales material that […]

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Report: Major Banks Facing Federal Lawsuit over Faulty Mortgage-Backed Stocks

Posted September 2nd, 2011 at 4:05 am (UTC-5)
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A U.S. newspaper says the federal government is set to file lawsuits against more than 12 massive financial institutions for misrepresenting the quality of mortgage-backed securities that played a role in the 2008 financial crisis. The New York Times says the Federal Housing Finance Agency is taking action against Bank of America, JPMorgan Chase and […]

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