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Three U.S. Banks Still Failing to Comply with Parts of $25B Mortgage Settlement

December 4, 2013 12:07 PM EST
Bank of America (NYSE: BAC), Citigroup (NYSE: C), and JPMorgan (NYSE: JPM) were said to not comply with parts of a $25 billion landmark national mortgage settlement entered into last year.

The banks were said to fail at least two of 29 metrics which measure how to provide relief to homeowners under the threat of foreclosure through the first-half of 2013.

BofA, Citi, and JPMorgan failed a cumulative six metrics in Q113, while JPMorgan missed one in Q2.

The banks are said to have implemented plans to address the issues, one U.S. settlement rep told the WSJ on Wednesday.


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