Tag Archives: fdic

FDIC Announces $190 Million Settlement From Eight Firms

Settlement resolves federal and state securities law claims based on misrepresentations in the offering documents for 21 Countrywide RMBS purchased by the five failed banks By Jeff Sorg, OnlineEd Blog (June 8, 2016) – The Federal Deposit Insurance Corporation (FDIC) as receiver for five failed banks has announced a $190 million settlement of certain residential mortgage-backed securities […]

Justice Department Reaches Settlement with Sage Bank Over Allegations of Mortgage Discrimination

Complaint alleges bank charged African-American and Hispanic borrowers higher prices for home loans than charged to similarly situated White borrowers. By Jeff Sorg, OnlineEd Blog (December 2, 2015) – The Justice Department filed a complaint and proposed consent order on November 30th to resolve allegations that Sage Bank, headquartered in Lowell, Massachusetts, violated the Fair Housing Act and the […]