Probes of SunTrust, PNC Indicate the Government Is Moving Down the Food Chain. So Whos Next?
August 15, 2013
Last week, SunTrust and PNC separately disclosed they are being investigated by agencies of the federal government over some of their mortgage practices as the drive continues to bring enforcement actions in the wake of the financial crisis. For SunTrust, the U.S. government is probing whether it properly processed borrowers loan-modification applications under the Home Affordable Modification Program. SunTrust Mortgage has been cooperating...