Ex-Wilmington Trust president reaches settlement with SEC

DOVER, Del. (AP) — The former president of the only financial institution to be criminally charged in connection with the federal bank bailout program in the wake of the 2008 financial crisis has reached a settlement with federal securities regulators in a related civil action.

The Securities and Exchange Commission asked a federal judge in a court filing Tuesday to approve a consent judgment against former Wilmington Trust President Robert Harra Jr. Harra would pay a civil penalty of $100,000 and be prohibited from acting as an officer or director of a public company.

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