Barclays Sued by U.S. Regulator Over Mortgage Security Sales

Barclays Plc is being sued by the U.S. regulator of credit unions, which says the bank sold $555 million in misrepresented mortgage-backed securities that contributed to two lender failures.

The National Credit Union Administration announced the suit filed in federal court in Kansas in a statement today.

To contact the reporter on this story: Jesse Hamilton in Washington at jhamilton33@bloomberg.net.

To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.