Items Tagged with 'Branch Banking and Trust'

ARTICLES

  • BB&T to pay $83 million for FHA lending violations

    Latest lender to be accused of violating False Claims Act by DOJ
    BB&T will pay $83 million to settle allegations brought by the Department of Justice, which accused the lender of violating the False Claims Act by falsely certifying that it complied with “critical underwriting and quality control requirements” on mortgages insured by the Federal Housing Administration. BB&T becomes the latest in a long string of lenders targeted by the DOJ for False Claims Act violations.
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  • BB&T reports record revenues

    Added $5.9 billion in loans
    The bank hit record revenues and came in with strong quarterly earnings. The bank attributes most of its success this quarter to two factors. Here are the details.
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  • BB&T Posts Lower Profits After Repaying TARP Funds

    Branch Banking and Trust’s [stock BBT][/stock] Q209 profits were 50% lower than in Q208, after the bank became one of the first lenders allowed to repay the federal funds it received from the Troubled Asset Relief Program (TARP). BB&T reported profits of $208m, or $0.20 per share, down from $428m in Q208. The bank repurchased the preferred stock it sold to the Treasury Department for $3.134bn, and also made an additional $14m dividend payment.
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