Big drop in federal prosecutions of banks

banks.jpg These numbers from Syracuse University's Transactional Records Access Clearinghouse provide ammunition to those who believe that bankers have been given a free pass. From Economix:

During the first 11 months of the 2011 fiscal year, the federal government filed 1,251 new prosecutions for financial institution fraud. If that pace continues, TRAC projects a total of 1,365 prosecutions for the fiscal year. That's less than half the total a decade ago.

This category can include bank executives who mislead regulators and mortgage brokers who falsify loan documents.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
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