Société Générale Agrees to $122M Settlement in RMBS Suit

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Explore:  FHFA RMBS Settlement

On February 27, the Federal Housing Finance Agency (FHFA) announced that it reached a settlement with French bank Société Générale of an RMBS suit in the U.S. District Court for the Southern District of New York. FHFA alleged violations of federal and state securities law in connection with RMBS purchased by Fannie Mae and Freddie Mac in 2006. The settlement agreement contains no admission of liability or wrongdoing. Société Générale and four of its subsidiaries will pay $122 million dollars to the agency. Press Release.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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