Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Barclays to pay $2B in mortgage-backed securities fraud case

Jaclyn Jaeger | April 2, 2018

Barclays has become the latest bank to reach an agreement with the United States regarding the packaging, marketing, sale, and issuance of residential mortgage-backed securities to investors leading up to the financial crisis.

On March 29, the Department of Justice announced that Barclays Capital and several of its affiliates agreed to pay $2 billion in civil penalties in exchange for the dismissal of a civil action filed in December 2016, in which the United States sought civil penalties for alleged conduct related to Barclays’ underwriting and issuance of residential mortgage-backed securities (RMBS) between 2005 and 2007.

Following a three-year investigation, the complaint in the case, ...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.