Excerpt:
“The Federal Housing Finance Agency sued 17 banks Friday, seeking damages from the sale of soured mortgage-backed securities to Fannie Mae and Freddie Mac.
The banks include Bank of America and its two acquisitions Countrywide Financial Corp. and Merrill Lynch.”
“Other American firms targeted include Citigroup, JPMorgan Chase , Goldman Sachs, Morgan Stanley, Ally Financial, General Electric Co., (and First Horizon National Corp.”
Wells Fargo is missing from the FHFA lawsuits.
Here’s the top 4:
PMorgan Chase: $33 billion
RBS: $30.4 billion
Countrywide: $26.6 billion
Merrill Lynch: $24.8 billion
Full article here.