New Century Financial controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2010
Settlements and director bars
Three former officers agreed to settlements totaling approximately $90 million and were barred from serving as directors of public companies for five years. The settlements did not include admissions of wrongdoing.
2009
Regulatory claims against former officers
Federal regulators alleged that former officers misled investors about New Century's financial condition and prospects.
2008
Bankruptcy examiner allegations
An examiner's report described significant improper and imprudent practices involving loan origination, operations, accounting, and financial reporting, and criticized auditor oversight.