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PwC reaches $335 million settlement with FDIC over Taylor, Bean & Whitaker/Colonial Bank audits

PricewaterhouseCoopers will pay $ 335 million to the Federal Deposit Insurance Corp. in a settlement that ends claims that the auditor failed in its duties by not discovering the accounting malfeasance that led to the late-2000s collapse of Colonial Bank, which funded the mortgages originated by Taylor, Bean & Whitaker.

Once upon a time, TBW was the largest privately held mortgage company in the country, employing more than 2,000 people. But TBW collapsed in…
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