Banks in talks to settle multi-billion mortgage fraud claims, Huffington Post reports

by Ben Vernia | May 16th, 2011

According to a story published on May 16 on the Huffington Post web news site, five major banks – Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial – are said to have been the subject of Department of Housing and Urban Development Inspector General audits and are now in discussions with federal and state officials to resolve billions of dollars in False Claims Act allegations.

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