IBERIABANK

AR 2017 Community Banks / Credit Unions

DOJ False Claims Act

Penalty

$11.7 million

Outcome

IBERIABANK Agrees to Pay Over $11.6 Million to Resolve Alleged False Claims Act Liability for Submitting False Claims for Loan Guarantees

Details

IBERIABANK — DOJ Enforcement (2017)

DOJ took enforcement action against IBERIABANK in AR in 2017 involving false claims act violations in the Community Banks / Credit Unions sector.

Penalty: $11.7 million

Violation types: False Claims Act
Entity type: Financial Institution
Penalty type: Settlement
Location: AR

Source: DOJ Press Release — IBERIABANK Agrees to Pay Over $11.6 Million to Resolve Alleged False Claims Act Liability for Submitting False Claims for Loan Guarantees

How Crucible Prevents This

Crucible's billing compliance controls enforce documentation-to-claims reconciliation and flag billing anomalies before false claims are submitted.

Source: DOJ Press Release — IBERIABANK Agrees to Pay Over $11.6 Million to Resolve Alleged False Claims Act Liability for Submitting False Claims for Loan Guarantees

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