US Justice Department prepares criminal charges against banks

Pointing Finger

U.S. Attorney General Eric Holder said his department is readying criminal cases against banks that show financial institutions aren’t too big to prosecute.

Bloomberg News reports that Holder, in a video message posted today on the department’s website, said improved coordination with regulators is creating a relationship that “will prove key in the coming weeks and months” as prosecutors pursue charges.

The U.S. government is nearing decisions on whether to charge Credit Suisse and BNP Paribas, people familiar with those probes said. Holder didn’t specify any banks.

'I am personally monitoring the status of these ongoing investigations', he said, speaking generally. 'I am resolved to seeing them through, and in doing so, I intend to reaffirm the principle that no individual or entity that does harm to our economy is ever above the law'.

To access the complete Bloomberg article hit the link below:

Holder Signals Criminal Charges Coming Against Some Banks

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