Stay updated with breaking news from Advantage Loan Program. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Financial services firm Sterling Bancorp agreed Wednesday to plead guilty to security fraud, including a $27.2 million fine, which will go towards paying restitution.
Financial services firm Sterling Bancorp agreed Wednesday to plead guilty to security fraud, including a $27.2 million fine, which will go towards paying restitution.
Amid significant tumult in the global banking sector, one Southeast Michigan lender is looking to make amends and move forward. On Wednesday, Southfield-based Sterling Bancorp Inc. (NASDAQ: SBT) announced it agreed to plead guilty to one count of securities fraud tied to a mortgage loan program…
The company agreed to pay $27.2 million in restitution to shareholders and revised its 2022 earnings to show a steep loss. The plea agreement with the Department of Justice was tied to Sterling's now defunct low-documentation mortgage program.
Financial services firm Sterling Bancorp agreed Wednesday to plead guilty to security fraud, including a $27.2 million fine, which will go towards paying restitution.