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17 Banks, Including JPMorgan Chase, Sued By Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) has filed lawsuits against 17 banks in New York state and federal courts and in federal court in Connecticut. The lawsuits seek to recoup $196 billion lost on mortgage-backed securities purchased by Freddie Mac and Fannie Mae. The lawsuits accuse the banks of providing misleading information about the soundness of the mortgages underlying the securities...