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Regions Bank Pays $52.4 Million to Settle False Claims Act Violations
What is being done about fraud in the FHA's mortgage insurance program? In September, the U.S. Department of Justice announced that Regions Bank ("Regions") agreed to pay $52.4 million to resolve allegations that it violated the False Claims Act. The Alabama-based bank knowingly originated mortgage loans insured by the Federal Housing Administration ("FHA") that did not meet the underwriting guidelines of the U.S. Department of Housing and Urban Development ("HUD"). What is a

Jeffrey Haber
Sep 26, 20162 min read
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