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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, ...

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