Federal Deposit Insurance Corporation

Citigroup and JP Morgan Suspend Foreclosures 

Both Citigroup Inc. [stock C][/stock] and JP Morgan Chase [stock JPM][/stock] announced Friday they have enacted temporary foreclosure moratoriums. The news comes one day after House Financial Services Committee chairman Barney Frank and the Office of Thrift Supervision urged financial institutions to halt foreclosures, until lawmakers have had time to hash out the details of a “comprehensive” plan to address the housing crisis.