Banks In $25B Mortgage Deal Beat Relief Targets: Report

Law360, New York (March 18, 2014, 1:22 PM EDT) -- The five banks that agreed to a historic $25 billion mortgage settlement two years ago have surpassed the relief to consumers required under the deal with federal and state regulators, the monitor overseeing the settlement said Tuesday.

In court filings in the D.C. District Court, National Mortgage Settlement Monitor Joseph H. Smith Jr. said that Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. had satisfied their consumer relief and refinancing requirements called for under the February 2012 settlement. Residential...
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