FIRREA Civil Money Penalties: The Government's Newfound Weapon Against Financial Fraud

Jones Day | FIRREA Civil Money Penalties: The Government's Newfound Weapon Against Financial Fraud:

"The court considered that the essential purpose of FIRREA's civil money penalties was to deter fraud that put federally insured deposits at risk, in order to protect depositors and ultimately U.S. federal taxpayers. It was entirely consistent with that purpose to hold an institution liable for fraudulent conduct that harmed itself. The court also noted that FIRREA's penalty provision applied to "whoever" violated a predicate offense, and that the statute could not be read to exclude the affected financial institution itself from the meaning of the word "whoever.""

Comments

Popular posts from this blog

Gary Anderson's Talkmarkets Articles by Subject

God Hates Master Race Idea. Donald Trump Embraces It

Donald Trump Will Grope Ann Coulter to Show Fairness