The Federal Reserve Board releases orders related to the previously announced monetary sanctions against five banking organizations

The following press release was published by the Board of Governors of the Federal Reserve System on Feb. 13, 2012. It is reproduced in full below.

The Federal Reserve Board on Monday released the orders related to the previously announced monetary sanctions against five banking organizations for unsafe and unsound processes and practices in residential mortgage loan servicing and processing. The Board reached an agreement in principle with these organizations for monetary sanctions totaling $766.5 million on February 9, 2012. Attachments: Ally Financial Inc. (PDF) Bank of America Corporation (PDF) Citigroup Inc. (PDF) JPMorgan Chase & Co. (PDF) Wells Fargo & Company (PDF) For media inquiries, call 202-452-2955

Source: Board of Governors of the Federal Reserve System