Faruqi & Faruqi, LLP is Investigating Flagstar Bancorp Inc. (FBC) on Behalf of its Shareholders
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential wrongdoing at Flagstar Bancorp Inc. (“Flagstar” or the “Company”) (NYSE: FBC).
The investigation focuses on whether the Company and its officers breached their fiduciary duties by causing or allowing Flagstar to engage in possible Consumer Financial Protection Bureau (“CFPB”) violations related to Flagstar’s loss mitigation and default servicing practices.
On August 26, 2014, the Company disclosed that the Bank had commenced discussions with the CFPB related to alleged violations of federal consumer financial laws arising from the Bank’s loss mitigation practices and default servicing operations dating back to 2011. On September 29, 2014, the Bank reached a settlement with the CFPB pursuant to the CFPB Consent Order. The settlement required the Bank to pay $27.5 million to the CPFB for borrower remediation and $10.0 million in civil monetary penalties for a total of $37.5 million, not including legal fees.
If you currently own Flagstar stock and would like to discuss your legal rights, please contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Flagstar’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form below and we will provide you with additional
information on how to join the Action.
* The submission of this form does not create an attorney-client relationship.
Stuart J. Guber
Faruqi & Faruqi, LLP
101 Greenwood Avenue Suite 600
Jenkintown, PA 19046
Tel: (215) 277-5770
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.