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SunTrust Banks pays nearly $1 billion in mortgage abuse case settlement

SunTrust Banks pays nearly $1 bn for mortgage abuse (via AFP) SunTrust Banks agreed Tuesday to pay $968 million to settle US charges, rooted in the 2008 financial crisis, that it mislabeled huge numbers of defective mortgages as quality loans, abusing borrowers. The Atlanta, Georgia-based SunTrust’s deal with…   [Image…

Four of 19 large U.S. banks fail stress tests

WASHINGTON — Citigroup was one of four large US banks that flunked stress tests aimed at seeing how they would hold up in a new economic crisis, Federal Reserve data showed Tuesday. Three others — Ally, Suntrust and MetLife — also failed the tests, while 15 other large bank holding…