ABN Amro has agreed to pay a record $41 million to settle allegations by the U.S. Department of Justice that the Dutch bank’s ABN Amro Mortgage Group falsified documents in connection with more than 28,000 government-backed loans. The Justice Department says the settlement, which includes a fine of nearly $17 million, includes a provision that ABN Amro withholding filing an additional 785 claims for defaulted loans, thus saving the Federal Housing Administration‘s insurance fund some $24 million in payouts to Michigan-based unit of the Dutch company.
