Barclays to pay $2 billion settlement in mortgage fraud suit
Barclays bank in central London. Photo: TOLGA AKMEN/AFP/Getty Images
The Justice Department announced Thursday that Barclays has agreed to pay a $2 billion fine, settling an investigation into its handling of mortgage-backed securities between 2005 and 2007.
The details: The civil suit alleged Barclays was responsible for multi-billion dollar losses to investors through a fraudulent scheme, and claimed the company misled investors about the quality of mortgage loans. The DOJ's announcement added that, despite paying $2 billion in civil penalties, Barclays disputes the claims.