DOJ's S&P Case Gives New Life To Mortgage Meltdown Cases

Law360, New York (February 5, 2013, 9:02 PM EST) -- While banks and other financial institutions thought 2013 would bring the end to mortgage-meltdown litigation, the Justice Department's Tuesday lawsuit against Standard & Poor's Financial Services LLC shows that the government might have finally found a way to successfully fight these cases thanks to a rarely used savings and loan crisis-era law.

The Justice Department invoked the 1989 Financial Institutions Reform, Recovery and Enforcement Act, a federal response to the savings and loan crisis of the late 1980s that allows the government to bring claims against...
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