Former IndyMac CEO Michael Perry to pay $1 million in settlement

Perry also agrees to be banished from the banking industry to settle claims that he overloaded the Pasadena thrift with risky home loans before its collapse.

Former IndyMac Bancorp Chairman and Chief Executive Michael W. Perry has agreed to pay $1 million and be banished from the banking industry to settle government claims that he overloaded the Pasadena thrift with risky home loans before it collapsed in July 2008.

nonforfeiture provision