Office Managing Partner
New Opinion Endorses FIRREA Case Against Bank of America and Countrywide
27 August 2013False Claims Act Alert
Federal judges in the U.S. District Court, Southern District of New York are making the Financial Institutions Reform Enforcement and Recovery Act of 1989 (FIRREA) required re-reading for banking attorneys. In an opinion released this week, Judge Rakoff joined his colleague, Judge Lewis Kaplan, in endorsing the claims the United States Department of Justice (DOJ) is pursuing with provisions of the 1989 reform law in the aftermath of the late 2007 and 2008 meltdown in the housing and secondary mortgage market and other financial markets.