FIRREA and FIAFEA
Find a South Carolina FIRREA/FIAFEA Lawyer who can help you file a Declaration with the Department of Justice
Defrauding Banks and Financial Institutions is a serious matter in the United States of America. The United States Congress has passed various laws that make it clear that this kind of behavior is not to be tolerated. Additionally, Congress had enacted a statutory scheme for rewarding whistleblowers who report bank fraud.
One of the laws that is the basis of the reward program is the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), which is codified in part at 12 USCS § 1833a. In conjunction with FIRREA is the Financial Institutions Anti-Fraud Enforcement Act (FIAFEA), which creates a compensation program for private whistleblowers regarding fraud involving financial institutions. FIAFEA is codified at 12 U.S.C. § 4201- 4247.
FIAFEA can generally be broken down around the following three ideas: 1) a private individual can make a declaration regarding wrongdoing that affects a bank and there are statutory processes and requirements for that (12 U.S.C. § 4201-4213), 2) a private individual can make a declaration regarding assets implicated in wrongdoing that affects a bank and there are statutory processes and requirements for that (12 U.S.C. § 4221 – 4230), 3) and the government has the authority to retain private counsel in pursuing claims involving wrongdoing that affects a bank and there are statutory processes and requirements for that (12 U.S.C. § 4241 – 4247). Having an Attorney who is experienced in the process of filing a Declaration with the Department of Justice can be helpful as your go through the process of submitting your whistleblower report and claim. Attorney Judah VanSyckel has experience with the process of submitting a Declaration to the Department of Justice under FIRREA/FIAFEA.
If you are looking to blow the whistle on fraud committed against banks or financial institutions, call Saluda Law, LLC today. Let’s see if you can assist the government in making sure bank fraudsters pay their fair share and that you get rewarded for doing so.
