February 23, 2018 / 11:10 PM / 10 months ago

BRIEF-GE Says Believes DOJ Is "Likely To Assert" That WMC & GE Capital Violated FIRREA

Feb 23 (Reuters) - General Electric Co:

* GE SAYS BELIEVES DOJ IS "LIKELY TO ASSERT" THAT WMC & GE CAPITAL VIOLATED FIRREA RELATING TO SUBPRIME MORTGAGE LOANS IN 2006 & 2007

* GE SAYS WMC AND GE CAPITAL WILL EXPLORE WHETHER AN ACCEPTABLE SETTLEMENT RELATING TO INVESTIGATION OF SUBPRIME MORTGAGES CAN BE REACHED

* GE SAYS IF ACCEPTABLE SETTLEMENT RELATING TO FIRREA INVESTIGATIONS CANNOT BE REACHED, DOJ MAY INITIATE LEGAL PROCEEDINGS AGAINST WMC, GE CAPITAL

* GE, ON FIRREA INVESTIGATIONS, SAYS WMC AND GE CAPITAL BELIEVE THEY WOULD HAVE DEFENSES TO ANY LAWSUIT Source text (bit.ly/2ov7a1t) Further company coverage:

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