Dayton Business Journal...
Government to sue big banks over mortgages
by DBJ Staff
Friday, September 2, 2011 

The Federal Housing Finance Agency, which oversees U.S. mortgage markets, is preparing to file suit against more than a dozen big banks. The agency said the banks misrepresented the quality of mortgages they packaged and sold during the housing bubble, according to an article in the The New York Times. 

The federal housing agency, which oversees Fannie Mae and Freddie Mac, is expected to file suit against a dozen banks including Bank of America, Goldman Sachs, JPMorgan Chase and Deutsche Bank, the Times reported. 

Many of those banks have significant Dayton-area operations. JPMorgan Chase is the third-largest bank operating in the Dayton region, with 45 branches and more than 500 employees. 

And BofA has several home loan branches in the Dayton region and recently bought the largest downtown Dayton office tower. 

The suits could be filed as early as Friday, or on Tuesday, according to the Times. 

Read story with link to the New York Times article at Dayton Business Journal