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Banks Admit Wrongly Foreclosing on US Troops

Banks Admit Wrongly Foreclosing on US Troops

(NEWSER– America's biggest banks have admitted that they wrongfully foreclosed on the homes of at least 700 military personnel, in some cases evicting families while troops were serving in war zones, the New York Timesreports. The wrongful foreclosures by banks including Citigroup and Wells Fargo surfaced as part of an investigation stemming from a settlement with federal authorities over foreclosure abuse during the housing crisis. Federal law requires banks to obtain court orders before foreclosing on active-duty troops.

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