General Electric to Pay USD 1.5 Billion Penalty on Mortgage Accounting Violations

General Electric Co. (NYSE: GE) has agreed to pay the Department of Justice a USD 1.5 Billion penalty due to accounting misrepresentations derived from its mortgage business WMC.   Analysts have expected the settlement in size as the company has already set aside the cash in reserve in 2018. The penalty comes from GE, through WMC, falsely representing the quality of its subprime loans.  "The money related framework relies on originators, wh....