General Electric

Unknown 2019 Community Banks / Credit Unions

DOJ Fraud

Penalty

$1.5 billion

Outcome

General Electric Agrees to Pay $1.5 Billion Penalty for Alleged Misrepresentations Concerning Subprime Loans Included in Residential Mortgage-Backed Securities

Details

General Electric — DOJ Enforcement (2019)

Outcome: General Electric Agrees to Pay $1.5 Billion Penalty for Alleged Misrepresentations Concerning Subprime Loans Included in Residential Mortgage-Backed Securities

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 — General Electric Agrees to Pay $1.5 Billion Penalty for Alleged Misrepresentations Concerning Subprime Loans Included in Residential Mortgage-Backed S

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