Deloitte settles Taylor Bean auditing lawsuits

Auditing provider was alleged to have missed queues that could have caught fraud earlier

Taylor Bean & Whitaker Mortgage Corp., one of the banks at the heart of the financial crisis has settled three lawsuits with Deloitte & Touche LLP over issues with the auditing practices they used on the run up to the financial crisis.

One of the lawsuits brought by Taylor Bean bankruptcy trustee Neil F. Luria was in arbitration as of this week, but has now been settled as part of an overall agreement related to auditing mistakes the firm made on the run up to the financial crisis. While the exact terms of the settlement have not been disclosed Deloitte spokesman Steven W Thomas, and Landon Cook said both said had achieved “mutual satisfaction.”

Executive Editor

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Chris DiMarco

Chris DiMarco, Executive Editor of InsideCounsel magazine, has a background in multimedia production with previous involvement in projects in which he developed and created content...

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