GE Cites Possible U.S. Sanction over Former Mortgage Unit
The Hour, Feb. 26, 2018–Alexander Soule
In its annual report Friday, GE disclosed it may record up to an additional $500 million in losses as a result of its former U.S. mortgage lending unit WMC, which has been under DOJ investigation for potential violations of the Financial Institutions Reform, Recovery and Enforcement Act.
