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U.S. Agency Set to Sue Big Banks on Mortgage Deals

The Federal Housing Finance Agency is set to file lawsuits against more than a dozen big banks for allegedly misrepresenting the quality of mortgage securities they were assembling and peddling at the height of the housing bubble. Three unnamed officials told The New York Times that the agency plans to seek billions of dollars in the suits against Bank of America, JPMorgan Chase and Goldman Sachs, to name a few, and that they plan to file the suits in federal court in the next few days.
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