May 7, 2013
Reiss on FIRREA!
Law360 quoted me in a story, Rakoff Ruling In $1B BofA Case May Halt DOJ Hot Streak, that reflects some judicial skepticism about the federal government’s broad reading of FIRREA: Prosecutors have seized on an obscure 1989 law to launch … Continue reading
May 7, 2013 in Government lawsuits | Permalink | No Comments
April 25, 2013
S&P Myth #1: No One Could Have Known
S&P filed its Memorandum in Support of Defendants’ Motion To Dismiss the DoJ lawsuit filed back in February. The memorandum states that S&P’s inability, along with other market participants, “to predict the extent of the most catastrophic meltdown since the … Continue reading
April 25, 2013 in Government lawsuits | Permalink | No Comments
April 18, 2013
Judiciary’s Take on the Subprime Zeitgeist
The 2nd Circuit’s opinion in FHFA v. UBS Americas Inc. et al. (April 5, 2013, No. 12-3207-cv) offers an interesting window into how at least some members of the judiciary understand the Subprime Crisis. On its face, the case was … Continue reading
April 18, 2013 in Government lawsuits | Permalink | No Comments
April 5, 2013
Reiss on Mortgage Insurance Probe, Again
American Banker also ran a story on the settlement, Lenders Likely Next Target in CFPB Reinsurance Kickback Probe (paywall) that includes an interview with me: WASHINGTON – The Consumer Financial Protection Bureau’s enforcement actions against four large mortgage insurers are … Continue reading
April 5, 2013 in Government lawsuits | Permalink | No Comments
Reiss on Mortgage Insurance Probe
Law360 interviewed me in Lenders Face Hefty Fines in CFPB Mortgage Insurance Probe (paywall) about the recent $15 million settlement with four mortgage insurers. It reads in part: The Consumer Financial Protection Bureau’s $15.4 million settlement Thursday with four mortgage … Continue reading
April 5, 2013 in Government lawsuits | Permalink | No Comments
March 27, 2013
Martin-et Act?
I am on the record in favor of greater prosecutorial attention to the events that led to the financial crisis, but I also believe that any prosecutions that result from such investigations should arise from laws that clearly outline potential … Continue reading
March 27, 2013 in Government lawsuits | Permalink | No Comments
March 21, 2013
Borden and Reiss on Dearth of Prosecutions for Mortgage Misrepresentations
We published Cleaning Up the Financial Crisis of 2008: Prosecutorial Discretion or Prosecutorial Abdication? (paywall) today in the BNA Criminal Law Reporter. (You can also get a copy on SSRN or BEPress). It builds on things we have said here and … Continue reading
March 21, 2013 in Government lawsuits | Permalink | No Comments
