U.S. plans new (civil) bank fraud cases in early 2014 - attorney general

[Eugene]

Source: Reuters

Exclusive: U.S. plans new bank fraud cases in early 2014 - attorney general

BY DAVID INGRAM
WASHINGTON Wed Dec 4, 2013 11:56am EST

(Reuters) - The U.S. Justice Department plans to bring civil mortgage fraud cases against several financial institutions early in 2014, using as a template the case that ended last month in JPMorgan Chase & Co's (JPM.N) $13 billion settlement, U.S. Attorney General Eric Holder said on Wednesday.

In an interview with Reuters, Holder would not say which companies or how many could face lawsuits but said the Justice Department was in contact with them and it was hard to say whether the talks would lead to settlements.

"We have a number of investigations that are coming to a head at the same time," he said. "It is my hope that the next round of these cases will be filed soon after the new year."

JPMorgan, the largest U.S. bank, agreed last month to pay $13 billion to end a series of government investigations into its marketing and sale of mortgage-backed securities.

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Read more: http://www.reuters.com/article/2013/12/04/us-usa-justice-interview-idUSBRE9B30RZ20131204

[marsis]

1. Let's see,

if I get the same treatment as the banks, I could rob a bank for $100,000, get caught, not go to jail, and ultimately only pay a fine of $1,500.
Not a bad deal, where do I sign up for that.

[kickysnana]

2. +1