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Violation Tracker Individual Record

Company: Flagstar Bank
Current Parent Company: New York Community Bancorp
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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Penalty: $132,800,000
Year: 2012
Date: February 24, 2012
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: The United States Attorney for the Southern District of New York and the U.S. Department of Housing and Urban Development announced that the United States settled a civil fraud lawsuit alleging that Flagstar Bank F.S.B. improperly approved residential home mortgage loans for government insurance.
Level of Government: federal
Action Type: agency action
Agency: U.S. Attorney-Southern District of New York
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.