U.S. regulators probing Freddie Mac are seeking $100 million or more from the company in settlement of possible civil charges resulting from an accounting scandal, The Wall Street Journal said on Tuesday.
The paper, citing people familiar with the matter, said the talks between the mortgage finance company and the regulator, the Office of Federal Housing Enterprise Oversight, were continuing, and that the final settlement could be far less.
Freddie Mac completed a restatement of past earnings last month, saying it understated results through 2002 by nearly $5 billion. On Sunday, the company said it named former American Stock Exchange head Richard Syron as its new chief executive.
Officials with Freddie Mac could not be reached for comment on Tuesday.