In The News Today - September 29, 2014

September 29, 2014

The Department of Justice has emerged as a "formidable banking regulator," writes Thomas P. Vartanian, chairman of the financial institutions practice at Dechert LLP. "By the time the DOJ confronts a bank with a threat of litigation, it has already conducted months of discovery, having foraged through emails, documents, testimony and a range of other discovery goldmines. Whether the assertions listed in the complaint are provable or not, they can be a motivating force toward settlement. And since most cases do settle, the scope of the law is actually being determined by the DOJ rather than the courts." (American Banker)