8 Financial Institutions To Pay A Total Of $190M To Settle FDIC Claims

Mealey's (June 2, 2016, 2:13 PM EDT) -- WASHINGTON, D.C. — Eight financial institutions will pay a combined $190 million to settle claims that they issued misrepresentations concealing the true investment quality of Countrywide Financial Corp. residential mortgage-backed securities (RMBSs) in violation of state and federal securities laws, according to a press release issued on June 2 by the Federal Deposit Insurance Corp. (FDIC).

(Press release available.  Document #57-160620-041X.)

According to the press release, the FDIC reached the settlement, which is subject to court approval, with financial institutions Barclays Capital Inc., BNP Paribas Securities...
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