OCC Restricts Mortgage Servicing Activities of HSBC, Wells Fargo & Four Other Banks

The Office of the Comptroller of the Currency, a U.S. bank regulator, said Wednesday that is restricting the mortgage servicing activities of HSBC, Wells Fargo and four other banks because they have “not completed the required corrective actions” under the major settlement known as the Independent Foreclosure Review.

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Big Bank Fines Over Bad Mortgages, Practices Total $128 Billion Since 2009, But Is That Too Little?

Bank of America is on the verge of finalizing a reported $17 billion settlement with the U.S. government over the packaging and selling of bad mortgages, and it would be the biggest single hit taken by a big bank since the financial crisis.

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