Chandni Doulatramani
businessinsider.com
October 24, 2013
At least nine banks face probes by the U.S. Department of Justice into their sales of mortgage-backed securities as part of an effort by the task force that reached the $13 billion agreement with JPMorgan Chase & Co , the Financial Times reported.
Citing people familiar with the matter, the newspaper said the banks include Bank of America Corp , Citigroup Inc , Credit Suisse Group <CSGN.VX>, Deutsche Bank <DBKGn.DE>, Goldman Sachs Group Inc , Morgan Stanley , Royal Bank of Scotland , UBS <UBSN.VX>, and Wells Fargo & Co .
Document requests and discussions between the banks and government have picked up recently after Eric Holder, the U.S. attorney-general, indicated publicly that more mortgage-backed security lawsuits were coming by the end of the year, the FT said.
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This article was posted: Thursday, October 24, 2013 at 8:20 am
Tags: domestic news, economics
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