Romantic Relationship With Fannie Mae CEO Prompted Firing of Fifth Third Lawyer
PHILADELPHIA, Oct. 6, 2015 /PRNewswire/ — The United States Department of Justice announced today that Fifth Third Bank will pay approximately $85 million to the federal government to settle claims under the False Claims Act (“FCA”) relating to the Bank’s practices in connection with loans insured by the Federal Housing Administration (FHA)…
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From the WSJ:
Fifth Third Bancorp, Ohio’s largest bank, fired its general counsel last month because she was having a romantic relationship with the chief executive of Fannie Mae, Timothy Mayopoulos.
Fifth Third last month said Heather Russell, who was chief legal officer and corporate secretary for less than a year, departed following “a personal matter“ that represented “a conflict of interest.”
Following inquiries from The Wall Street Journal, Ms. Russell said in a statement Wednesday that she “proactively informed Fifth Third’s senior management about my personal relationship with Tim Mayopoulos, and they terminated me as a result of it. During my time at Fifth Third, I never had any interactions or dealings with Fannie Mae in any regard, and there was never any conflict of interest.”
Fifth Third declined to comment beyond its initial statement, which also said that the conflict had “nothing to do with any of the legal work done by Heather during her tenure.”
Rest here…
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We paid for their racket & never knew it so now they should pay us 3x the FACE VALUE of those FRAUDS they were LOAN SHARKING so they could have free cocaine, booze & hooker parties on us