U.S. identifying people to target for role in mortgage crisis

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U.S. identifying people to target for role in mortgage crisis

U.S. identifying people to target for role in mortgage crisis

Reuters-

U.S. Attorney General Eric Holder said on Tuesday he has given federal prosecutors a 90-day deadline to decide whether they can bring cases against individuals for their roles in the 2008 financial crisis.

U.S. attorneys who brought cases against institutions over misconduct in the pooling and sale of residential mortgage-backed securities have been asked “to try to develop cases against individuals and to report back in 90 days with regard to whether they think they can successfully bring criminal or civil cases against those individuals,” Holder said in a public appearance at the National Press Club.

The Justice Department, in conjunction with other authorities, extracted record penalties from major banks in 2013 and 2014 for inappropriately marketing risky mortgage securities in the run-up to the financial crisis.

[REUTERS]

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