First Horizon to pay $212.5 mln to settle mortgage-related claims

April 9, 2015 9:38 PM

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April 9 (Reuters) - First Tennessee Bank, the regional bank for First Horizon National Corp, said it would pay $212.5 million to settle claims of mortgage lending violations related to the business the company sold in 2008.

First Horizon said on Thursday it had reserved $50 million for settling the claims and expected to record the remaining amount as pretax expenses in the first quarter.

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