Reuters-
SunTrust Banks Inc said it may attract “substantial penalties” from on an ongoing mortgage-related probe and also disclosed a new investigation by the Department of Justice, according to a regulatory filing late Monday.
U.S. Attorney’s Office for the Western District of Virginia and Office of the Special Inspector General for the Troubled Asset Relief Program have been investigating SunTrust concerning its participation in a federal mortgage-assistance program.
The agencies have indicated the plan to pursue some form of action and may impose substantial penalties on SunTrust, the company said in the filing with the U.S. Securities and Exchange Commission.
[REUTERS]
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