Haeggquist & Eck, LLP, a shareholder, and consumer rights litigation firm has commenced an investigation into possible breaches of fiduciary duties and other violations of law by certain officers and directors at SunTrust Banks, Inc. (“SunTrust” or the “Company”).
SunTrust (NYSE: STI) is a bank holding company headquartered in Atlanta, Georgia. On June 17, 2014, it was announced that SunTrust agreed to pay $968 million in fines and consumer relief to settle state and federal investigations into alleged abusive mortgage practices. Shortly thereafter, on July 3, 2014, SunTrust’s subsidiary, SunTrust Mortgage, agreed to pay $320 million to settle claims asserted by the United States Attorney for the Western District of Virginia alleging that SunTrust Mortgage harmed customers seeking mortgage loan payment modifications under the United States government’s Home Affordable Modification Program (“HAMP”).
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