U.S. Fines ABN AMRO Unit $16.9 million Over Loan Claims

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00002340-us-fines-abn-amro-unit-169-million-over-l/

By Kristin Roberts, Reuters

U.S. officials on Wednesday said Dutch bank ABN AMRO’s U.S. mortgage division would pay $16.9 million to settle charges the company made false claims on federally insured home loans.

The agreement, announced by the U.S. Attorney’s office and the U.S. Housing and Urban Development Department (HUD), was valued at $41 million — the largest monetary settlement of an enforcement action in the history of the HUD’s Federal Housing Administration.

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