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Board of Governors of the Federal Reserve System
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Press Release

Federal Reserve Press Release

Release Date: July 25, 2014

For release at 2:00 p.m. EDT

The Federal Reserve Board on Friday released the order related to the previously announced monetary sanctions against SunTrust Banks, Inc., and certain of its subsidiaries (SunTrust) for unsafe and unsound practices in residential mortgage loan servicing and processing. The Board reached an agreement in principle with SunTrust for monetary sanctions totaling $160 million on October 10, 2013.

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Last update: July 25, 2014