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Big Banks Wrongfully Foreclosed On More Than 700 Military Members During The Financial Crisis

Julia La RocheMar 4, 2013, 20:20 IST

The nation's largest banks have discovered that they wrongfully foreclosed on more than 700 military members during the financial crisis, the New York Times Jessica Silver-Greenberg and Ben Protess report citing unnamed sources familiar.

This discovery was made when Bank of America, Citigroup, JPMorgan Chase and Wells Fargo had to look at mortgages during their multi-billion settlement with the government.

Active military and National Guard members are protected from foreclosure under federal law.

Read the full NYTimes report here >