DOJ Settlements Let Big Banks Off Too Easy, Senators Say

Law360, New York (January 29, 2013, 4:41 PM EST) -- A pair of U.S. senators said Tuesday that federal law enforcement officials had created a two-tier justice system by considering the economic effects of criminal charges against large banks, arguing those considerations resulted in settlements that were "disproportionately low" compared to the alleged violations.

In a letter to Attorney General Eric Holder, Sens. Sherrod Brown, D-Ohio, and Charles Grassley, R-Iowa, said they were troubled by top U.S. Department of Justice Criminal Division officials' recent statements that they took into account the potential ripple effects that a criminal case against a large bank or one of its executives could have on the...

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