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Administrative/Regulatory

Nov. 23, 2016

Mortgage lender to pay DOJ $52 million

Settlement with Ally Financial prevents potential DOJ civil lawsuit.

By Meghann M. Cuniff
Daily Journal Staff Writer

Mortgage lender Ally Financial Inc. will pay $52 million to end a federal investigation involving its work with subprime mortgage backed securities that sustained big losses.

The U.S. Attorney's Office on Monday announced a settlement that halts a potential civil lawsuit over alleged violations of the Financial Institutions Reform Recovery and Enforcement Act. In add...

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