A legal inferno has erupted around several Pittsburgh mortgage bankers, and the SEC is trying to keep their hands off the firehose by seeking to win a contempt of court citation on top of an earlier injunction.

The Securities and Exchange Commission has accused the mortgage bankers of stretching the truth about their investment products. In doing so, the agency hopes to send a message to other banks and financial institutions that advertising false or misleading information on investment products could earn them a hot seat in the cooler.

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