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| Name | Symbol | Market | Type |
|---|---|---|---|
| Barclays PLC | NYSE:BCS | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.03 | 0.29% | 10.27 | 10.43 | 10.2201 | 10.29 | 19,280,474 | 01:00:00 |
From May 2019 to May 2024
Barclays PLC on Thursday said it would pay $280 million to settle a lawsuit filed by a top U.S. regulator over mortgage securities the bank sold to mortgage companies Fannie Mae and Freddie Mac during last decade's housing bubble.
The Federal Housing Finance Agency, which controls the government-backed mortgage giants, sued Barclays and 17 other financial institutions in 2011--seeking unspecified damages on about $200 billion in mortgage investments. The FHFA sued Barclays for over $4.9 billion in securities sold to Fannie and Freddie between 2005 and 2007.
Freddie will collect $227 million and Fannie will receive $53 million.
A Barclays spokesman said the settlement wouldn't impact 2014 earnings. "We are pleased to have resolved this matter," the spokesman said. Barclays didn't admit to wrongdoing in the settlement.
The FHFA has now settled 13 of the 18 lawsuits it filed three years ago, bringing in $19.4 billion in settlements for Fannie and Freddie
Write to Nick Timiraos at nick.timiraos@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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