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Cincinnati Bank Settles Improper Accounting Charges

WCBE 90.5FM | By Jim Letizia
Published December 5, 2013 at 7:13 AM EST

Cincinnati-based Fifth Third Bancorp is paying 6.5 million dollars to settle Securities and Exchange Commission charges of improper accounting during the wall street collapse of 2008. The SEC says Fifth Third classified some commercial real-estate loans in a way that misled investors. The settlement includes penalties for former chief financial officer Daniel Poston.

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WCBE News Securities and Exchange CommissionFifth Third Bancorp
Jim Letizia
Jim has been with WCBE since 1996. Before that he worked as a reporter at another Columbus radio station, and for three newspapers in Southwest Florida.
See stories by Jim Letizia