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Oct 10 (Reuters) – SunTrust Banks Inc said it
settled some claims related to government agency-backed mortgage
loans and would take a related charge of $323 million in the
third quarter.
The bank said on Thursday it reached agreements with the
U.S. Department of Housing and Urban Development and the
Department of Justice to settle mortgage origination claims and
its portion of the national mortgage servicing settlement.
SunTrust’s commitment under the agreements includes a
payment of $500 million to consumers and a cash payment of $468
million, the bank said in a statement.
Shares of SunTrust, which is scheduled to report
third-quarter results on Oct. 18 , closed at $33.35 on Thursday
on the New York Stock Exchange.
