Sterling Bancorp controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Sterling Bancorp settles shareholder lawsuit over mortgage disclosures
Settlement
Sterling Bancorp settled a shareholder lawsuit alleging that disclosures about the company's residential lending practices violated federal securities laws. Shareholders agreed to drop all claims; the settlement included a cash payment paid by Sterling's insurance carriers, with the amount undisclosed.
Source excerpt
Sterling Bancorp has settled a shareholder lawsuit that alleged disclosures about the Southfield, Mich., company’s residential lending practices violated federal securities laws.
The $3.9 billion-asset company said in a press release Monday that the settlement in the case included a cash payment that was paid by its insurance carriers. The shareholders agreed to drop all claims against Sterling.