DOJ Using Old Law in New—and Worrisome—Way

Reprinted with permission from ALM.

The Financial Institutions Reform, Recovery, and Enforcement Act has seen a resurgence lately, as financial institutions find themselves targeted by the Department of Justice based on conduct that occurred during the recent financial crisis. Indeed, the DOJ has filed more FIRREA actions in the past few years than it did in the first 20 years of the statute’s existence.