Faruqi & Faruqi, LLP is Investigating Flagstar Bancorp Inc. (FBC) on Behalf of its Shareholders

News provided by

Apr 09, 2015, 11:14 ET

NEW YORK, April 9, 2015 /PRNewswire/ -- 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.

Request more information now by clicking here: www.faruqilaw.com/FBC-D. There is no cost or obligation to you.

Take Action

If you currently own Flagstar stock and would like to discuss your legal rights, please visit www.faruqilaw.com/FBC-D. You can also contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Flagstar's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

FARUQI & FARUQI, LLP
101 Greenwood Avenue Suite 600
Jenkintown, PA 19046
Attn: Stuart Guber
[email protected]
Telephone: (215) 277-5770

Logo - http://photos.prnewswire.com/prnh/20120119/MM38856LOGO

SOURCE Faruqi & Faruqi, LLP