The guilty plea by Sterling Bank includes $27.2 million in restitution. The DOJ said any higher amount would have put the bank out of business.

Failed banks and interest rate risk; DOJ-Sterling Bank settlement; big banks boost First Republic; ICE to fight FTC over Black Knight deal; FHFA delays DTI fee; Guaranteed Rate offering fast approvals.

The DOJ continues to investigate issues involving a non-QM program Sterling Bank & Trust ended in 2019. Fallout from the program continues to cut into the bank’s profitability.

Thrower, as the whistleblower plaintiff who brought the allegations to light, will receive roughly $11.5 million...

A federal appeals court panel ruled that the SEC didn’t act on the whistleblower’s information about misconduct at RBS even though it passed the information to the DOJ and FHFA, which reached settlements.