The Federal Housing Finance Agency alleged the banks mislead Fannie Mae and Freddie Mac about residential mortgage-backed securities.
The agency named Bank of America, Citigroup and JPMorgan Chase as well as Barclays PLC, Nomura Holdings Ltd., HSBC Holdings PLC, Societe General SA, Morgan Stanley, Ally Financial, Royal Bank of Scotland, Credit Suisse Group AG, Deutsche Bank AG and First Horizon National Corp.
The complaints say the banks misled Fannie Mae and Freddie Mac about the soundness of the underlying mortgages. The housing finance agency is seeking to have some defendants refund the investments with interest and pay other damages, including punitive damages for alleged misconduct.
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