Federal Housing Finance Agency Sues Big Banks for Lying on Mortgage Securities:
The Federal Housing Finance Agency, as conservator for Fannie Mae and Freddie Mac, today filed legal actions against 17 of the world's largest financial institutions, based on the FHFA's conclusion that some of the huge losses that Fannie Mae and Freddie Mac incurred from the named banks' bundled mortgage-backed securities were caused by "misrepresentations and other improper actions by the firms
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