FHFA Announces $280 Million Settlement with Barclays Bank PLC

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FHFA Announces $280 Million Settlement with Barclays Bank PLC

FHFA Announces $280 Million Settlement with Barclays Bank PLC

FOR IMMEDIATE RELEASE
4/24/2014

Washington, DC — The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, today announced a settlement with Barclays Bank PLC, related companies and specifically named individuals for $280 million.  The settlement resolves claims in the lawsuit FHFA v. Barclays Bank PLC, et al., as well as claims against Barclays in FHFA v. Ally Financial Inc., et al, alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities purchased by Fannie Mae and Freddie Mac during 2005-2007.  Both cases are in the U.S. District Court for the Southern District of New York.  Pursuant to the agreement, Barclays will pay $227 million to Freddie Mac and $53 million to Fannie Mae. 

This is the 13th settlement related to the 18 PLS lawsuits FHFA filed in 2011.  FHFA remains committed to satisfactory resolution of the remaining actions.

Settlement agreement follows (confidential exhibit omitted).

Attachments:

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The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.6 trillion in funding for the U.S. mortgage markets and financial institutions.?

Contacts:

?Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032

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