Financial Industry Fraud

What is Financial Industry Fraud?

The financial industry is largely governed by the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), which was passed during the savings and loan scandal of the 1980’s and 1990’s – which nearly crippled the savings and loan and banking industries and led to an economic recession. This law created multiple federal agencies and entities, as well as several new oversight measures to regulate financial institutions. Significantly, under FIRREA the U.S. Department of Justice can seek substantial civil penalties against anyone who causes financial injury to a qualifying financial institution by committing any one of more than a dozen criminal offenses, including bank fraud, wire fraud, and mail fraud. Whistleblowers are encouraged to assist in this effort under a companion law called FIAFEA – the Financial Institutions Anti-Fraud Enforcement Act – which provides financial rewards in exchange for whistleblower information.

M&S has represented FIRREA/FIAFEA whistleblowers and understands the intricacies of these laws – including how the tiered rewards program works, and how these laws can be applied to penalize banks and other financial institutions that cause injury to themselves by engaging in misconduct.

Our Process

• Submit your claim

  Reach out to us for a confidential, encrypted, and free conversation. We are here to listen and help you determine your next steps, no matter what they may be.

• We get to work on your behalf

  Our team of seasoned attorneys will fight complex cases on your behalf with passion, creativity, and integrity every step of the way.

• Results Achieved

  Our mission is to advance justice—and to achieve results. We are proud of our clients for being catalysts for change, and will work tirelessly to achieve the outcome we seek together.