Societe Generale fined $50 million for pre-crisis RMBS fraud

In its last few days, the Obama administration announced multi-billion dollar settlements with two foreign banks, Deutsche Bank and Credit Suisse, for each bank’s #mortgage securitization practices leading up to the housing crisis. And on Friday, as most people focused on the inauguration of Donald Trump, the Obama administration announced one last settlement with a foreign bank for its pre-crisis activities – France’s Societe Generale. http://www.housingwire.com/articles/39015-societe-generale-fined-50-million-for-pre-crisis-rmbs-fraud ❤️ #share #mortgage