WASHINGTON — Sen. Sherrod Brown is urging regulators to block banks from receiving tax breaks on legal settlements, on the heels of a multibillion-dollar settlement involving mortgage foreclosures.

The Ohio Democrat wrote a letter Thursday to Federal Reserve Board Chairman Ben Bernanke, and Comptroller of the Currency Thomas Curry, asking them to reconsider provisions that allow institutions to write-off payments they make as part of settlement agreements. He pointed in particular to the recent $8.5 billion mortgage settlement with the agencies over unlawful home foreclosures.

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