Barclays’ refusal to settle with the DoJ: a challenge to the U.S. enforcement regime?
16 Jan 2017

At the end of last year, Barclays announced that it would not settle with the U.S. Department of Justice over allegations the bank mis-sold residential mortgage backed securities (“RMBS”) in the run-up to the 2008 financial crisis.

In its Complaint, the DoJ alleges that Barclays sold bonds to investors substantiated by mortgages that brokers knew stood a very low chance of being repaid.

Are Barclays’ actions a challenge to the increasingly vigorous policing of big banks by U.S. authorities for financial crimes and misconduct, or a quibble over amounts?

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