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AG Urges Congress to Lift Whistleblower Reward Cap

Joe Mont | September 18, 2014

During a speech this week at New York University’s law school, Attorney General Eric Holder urged Congress to amend legislation and allow the Department of Justice to increase whistleblower rewards in cases that involve financial institutions.

“Since no financial fraud case is prosecutable unless we have sufficient evidence of intent – we should seek to better equip investigators to obtain this often-elusive evidence,” Holder said. “This means, among other things, thinking creatively about ways to incentivize witness cooperation and encourage whistleblowers at financial firms to come forward.”

Where Congress can step in, Holder said, is by empowering the Department of Justice to take full advantage of the Financial Institutions Reform, Recovery, and Enforcement Act...

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