It will be a little less announced by the American press. Ten U.S. banks involved in a huge scandal of bad foreclosures have agreed to pay $ 8.5 billion to compensate their customers wronged in this case, announced January 7, the Federal Reserve of the United States (Fed).
The companies concerned are Aurora, Bank of America, Citibank, JPMorgan Chase, MetLife Bank, PNC, Sovereign, SunTrust, U.S. Bank and Wells Fargo, said the U.S. central bank in a statement. They will pay a total of $ 3.3 billion to aggrieved customers meet the criteria to be compensated, and will spend $ 5.2 billion to “support measures” (loan modifications and repayment of debtors who had been sentenced to adjust their difference between the balance of the loan and the proceeds from the sale of their home before), said the Fed.
Depending on the case, households victims of the actions of banks and management companies mortgages will “a few hundred dollars to 125,000 dollars,” the statement added.
“FALSE DECLARATIONS”
More tt in the day, the New York Times and the Wall Street Journal claimed that fourteen major U.S. banks were about to agree to pay $ 10 billion to put an end to this matter.
The decisions announced by the Fed are the result of an independent audit which these banks were forced by the authorities to determine the amount of “financial injury to borrowers by errors, misrepresentations or other deficiencies” which these institutions were guilty in 2009 and 2010.
The banks were exposed to prosecution when the peak of the housing crisis, they had carried out the evictions on the basis of a standard procedure, without an individualized review of each case.
Last year, they had agreed to review all cases of borrowers defaulting covering the period 2009-2010, entrusting to independent experts. But the procedure was found to be much longer and co? Mouth disease than expected, pushing banks to seek an alternative agreement.








