Reaches Fair Lending

VA 2013 Community Banks / Credit Unions

DOJ Fraud

Penalty

$660 million

Outcome

Justice Department Reaches Fair Lending Settlement with Chevy Chase Bank Resulting in $2.85 Million in Relief for Homeowners

Details

Reaches Fair Lending — DOJ Enforcement (2013)

DOJ took enforcement action against Reaches Fair Lending in VA in 2013 involving fraud violations in the Community Banks / Credit Unions sector.

Penalty: $660 million

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

Source: DOJ Press Release — Justice Department Reaches Fair Lending Settlement with Chevy Chase Bank Resulting in $2.85 Million in Relief for Homeowners

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 Fair Lending Settlement with Chevy Chase Bank Resulting in $2.85 Million in Relief for Homeowners

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