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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