Fifth Third paid about $85 million after admitting failures to report defective FHA mortgages
Company: Fifth Third Bancorp
Summary
Fifth Third Bancorp and subsidiaries agreed to pay approximately $85 million to resolve federal civil fraud claims involving materially defective FHA-insured mortgage loans. The bank admitted responsibility for failing to self-report loans it knew were defective, contrary to HUD requirements. Source: https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-85-million-settlement-fifth-third-bancorp-over-failures