A whistleblower lawsuit accusing IberiaBank of wrongfully certifying mortgage loans for federal insurance has led to an $11.7 million settlement, the U.S. Department of Justice (DOJ) announced. According to the Justice Department, two former IberiaBank employees, Kelley Shackleford and Karen Mills, filed the whistleblower complaint on behalf of the U.S. government under the whistleblower provisions of the False Claims Act (FCA). Both women formerly worked for IberiaBank in Little Rock, Arkansas. The whistleblower complaint alleged that the Lafayette, Louisiana-headquartered bank committed mortgage fraud by knowingly originating and underwriting federally insured mortgage loans that did not meet regulatory requirements. The agreement makes ... Read More
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