Law Blog
Stay informed of the latest announcements relating to financial fraud law.
Wed, 02/08/2012 - 1:19pm
We here at the Financial Fraud Law Blog and the
Wed, 02/08/2012 - 11:01am
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Notwithstanding President Obama’s recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau, Congress is considering ways to alter the Bureau's structure, which had been established in Dodd-Frank. Today, the American Bankers Association testified before the House Subcommittee on Financial Institutions and Consumer Credit, addressing measures that the ABA says would increase accountability at the Bureau.
Wed, 02/08/2012 - 6:24am
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As we learned in social studies classes back in the day, Congress is a “bicameral” legislature, with the Senate and the House both having to pass a bill for it to take the next step toward becoming a law. So, when the Senate passed the STOCK Act to block insider trading by members of Congress and their staffs, we were only half-way there.
Wed, 02/08/2012 - 5:53am
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It seems that the Manhattan U.S. Attorney’s Office is the Harvard Law School of government agencies: top prosecutors there, just like top HLS students, seem to have their choice of law firms to join. Recently, the chief prosecutor of hedge fund billionaire Raj Rajaratnam, Jonathan Streeter,
Tue, 02/07/2012 - 1:19pm
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As readers of this Financial Fraud Law Blog and our
Tue, 02/07/2012 - 12:47pm
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New York State Attorney General Eric Schneiderman is in a bit of a bind.
Tue, 02/07/2012 - 12:32pm
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Non-bank residential mortgage lenders and originators are now required to establish anti-money laundering (AML) programs and file suspicious activity reports (SARs), as is required of other types of financial institutions.
Tue, 02/07/2012 - 10:52am
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As Hall Institute of Public Policy Executive Director Michael P. Riccards points out, “[p]rosecutors are the most powerful figures in the American criminal justice system." Now, a forum is scheduled to consider, in Riccards’ words, “what can be done to alleviate the growing number of prosecutorial abuses and misconduct that occur each year in the United States.”
Tue, 02/07/2012 - 5:50am
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Since the financial meltdown of 2008, a great deal has been written about the lack of prosecutions of members of the financial sector. Some have expressed incredulity that banks such as Goldman Sachs and their executives have escaped prosecution, especially in light of Senate Finance Committee reports that have excoriated them for creating the financial vehicles that investors bought into and then betting against those vehicles.
Tue, 02/07/2012 - 5:31am
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In an important decision regarding the scope of the Sarbanes-Oxley "whistleblower" provision, the U.S. Court of Appeals for the First Circuit has ruled that the provision generally does not extend to employees of non-public companies.
Tue, 02/07/2012 - 5:00am
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DocX, a company that until recently was one of the nation’s largest mortgage servicers, and its president, Lorraine O. Brown, have been indicted for forgery related to mortgage foreclosure documents that the company prepared. Missouri Attorney General Chris Koster says that “the indictment alleges that mass-produced fraudulent signatures on notarized real estate documents constitutes forgery.”
Mon, 02/06/2012 - 1:56pm
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We mentioned the other day that New York Attorney General
Mon, 02/06/2012 - 11:25am
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A former bank president has pleaded guilty to conspiracy to commit bank fraud and make false statements to federal regulators. Jerry J. Williams, the former president of Orion Bank, faces 15 years in federal prison.
Mon, 02/06/2012 - 10:40am
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We’ve all seen the ads telling us that there’s easy money to be made from rising prices in gold, silver, platinum, palladium, and other precious metals. We at the Financial Fraud Law Blog and at the .png)
