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Federal Contractor Misconduct Database (FCMD)

The federal government routinely awards contracts to companies with histories of misconduct, including contract fraud and other violations. POGO believes that providing this website will help to improve contracting decisions and increase public knowledge of how the government spends billions of taxpayer dollars each year. Read more…

WMC Mortgage Subprime Loan Investigation

In January 2019, General Electric announced it had reached an agreement in principle to pay a $1.5 billion civil penalty to settle a U.S. Department of Justice investigation into GE’s former lending unit, WMC Mortgage. WMC’s lending activities were part of a federal investigation into possible illegal conduct by the subprime mortgage loan industry in the lead-up to the 2008 housing crisis.

Misconduct Type
Securities
Enforcement Agency
Justice
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement Announcement
1/31/2019
Contractors Involved Penalty
Total
General Electric $1,500,000,000
Further Information Released
GE Press Release (excerpt) 1/31/2019

Federal Contractor Misconduct Database