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    07.19.13 Professor David Reiss on the Continued Success of FIRREA
    David Reiss

    In a recent Law360 article, Professor David Reiss commented on the continued success of the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA), in particular, the prosecution of credit agency Standard & Poor's over fraudulent ratings. Although the suit does not have as large of an impact as previous suits against Bank of America and Bank of New York Mellon, Professor Reiss considers Tuesday's ruling against S&P "a very big deal." "It adds to a body of law that gives the government another powerful tool to go after alleged misdeeds by financial institutions," he said.

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