By Andrew R. Johnson
U.S. Bancorp said Wednesday that federal authorities are
investigating the bank's compliance with insurance-program
requirements for loans insured by the Federal Housing
Administration.
The Minneapolis-based bank said in a regulatory filing that the
U.S. Department of Justice and U.S. Department of Housing and Urban
Development's Office of the Inspector General are investigating the
bank.
The bank has previously disclosed in regulatory filings that it
faced investigations and examinations by government agencies and
bank regulators regarding mortgage practices, including the
origination and servicing of loans insured by the FHA.
A spokeswoman for U.S. Bancorp declined to comment.
The bank said in Wednesday's filing that it is "cooperating
fully" with the examinations and investigations, which could lead
to legal proceedings or settlements.
Other regional banks, including Fifth Third Bancorp, SunTrust
Banks Inc. and Regions Financial Corp., have disclosed
mortgage-related investigations in recent months.
Write to Andrew R. Johnson at andrewr.johnson@wsj.com
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