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U.S. Bank to pay $200 million to settle FHA mortgage claims
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Consumer Protection
Tuesday, July 1, 2014
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U.S. Bank agreed to pay $200 million to resolve Justice Department allegations that it violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the Federal Housing Administration that did not meet applicable requirements. The agreement comes just days after the Justice Department announced that SunTrust Mortgage will pay nearly $1 billion to settle state and federal mortgage claims, including claims related to FHA mortgages.
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