Holder: Justice Dept Will Sue More Banks In 2014

Early next year the Justice Department will bring civil mortgage fraud cases against several financial institutions, Attorney General Eric Holder told Reuters. Holder declined to name any companies, but said the Justice Department is in talks with several. There is the chance that some may settle, as JP Morgan did in its recent landmark $13 billion settlement for misleading investors about toxic mortgages leading up to the 2008 financial collapse. That settlement included a penalty, an admission of culpability, compensation for consumers, and left open the possibility of criminal prosecution – all things that Holder said the government would seek in any future case.