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BB&T To Pay $83M To Settle Allegations Related To FHA-Insured Lending

Mealey's (October 3, 2016, 1:20 PM EDT) -- WASHINGTON, D.C. — The U.S. Department of Justice (DOJ) on Sept. 28 announced that Branch Banking & Trust Co. (BB&T)  has agreed to pay the United States $83 million to resolve allegations that it violated the False Claims Act (FCA) when it originated faulty housing loans. 

(Settlement agreement available.  Document #85-161011-015X.)

The DOJ said that BB&T agreed to pay the settlement in relation to loans it originated and underwrote that were insured by the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA)...
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