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Reaches

TX 2010 Community Banks / Credit Unions
DOJ Fraud
Penalty
$5.5 billion

Outcome

Justice Department Reaches Settlement with National Mortgage Lender to Resolve Allegations of Lending Discrimination

Details

Reaches — DOJ Enforcement (2010)

DOJ took enforcement action against Reaches in TX in 2010 involving fraud violations in the Community Banks / Credit Unions sector.

Penalty: $5.5 billion

Violation types: Fraud
Entity type: Financial Institution
Penalty type: Criminal
Location: TX

Source: DOJ Press Release — Justice Department Reaches Settlement with National Mortgage Lender to Resolve Allegations of Lending Discrimination

How Crucible Prevents This

Crucible's compliance monitoring for Community Banks / Credit Unions would have detected the patterns underlying this enforcement action.

Source: DOJ Press Release — Justice Department Reaches Settlement with National Mortgage Lender to Resolve Allegations of Lending Discrimination

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