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SEC Planning to Sue Banks Over Bonds -- Report SEC Planning to Sue Banks Over Bonds -- Report

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Banking and Finance

SEC Planning to Sue Banks Over Bonds -- Report

The Securities and Exchange Commission is planning to warn several banks that the agency intends to sue them over mortgage-related actions linked to the financial crisis, The Wall Street Journal reports, citing people familiar with the plans.

At issue is whether the banks misrepresented the quality of bonds, linked to subprime mortgages in 2007 and 2008, that they sold to investors. Which banks will receive formal SEC enforcement warnings isn’t clear.

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