In the News Today - February 6, 2014

February 06, 2014

A judge's recent decision should be a wake-up call for the potential for fraud in asbestos litigation, ILR's Harold Kim tells NPR. "When you start building the case, when you start seeing more and more of these instances, you got to really question whether this is an outlier or not."

Last week, the Indiana House passed a bill that would cap the rate of return for lawsuit lenders at 38 percent. The lenders currently operate with little oversight in the state, allowing them to sometimes charge customers sky-high rates. Associated Press

On Wednesday, the House Judiciary Committee voted to reauthorize the Over-Criminalization Task Force. The task force is looking at possible reforms to the federal criminal code, including one that would require prosecutors to show that a crime was committed intentionally. Main Justice ($)

Morgan Stanley agreed to pay $1.25 billion to settle allegations that is sold substandard mortgage securities to Fannie Mae and Freddie Mac. New York Times