Score one for the bank whistle-blowers

Source: Gretchen Morgenson, N.Y.Times (Paid Registration)

Here is something to celebrate: The United States Supreme Court just handed whistle-blowers one of their bigger wins in a long time.

The Supreme Court essentially confirmed that some courts have been using too narrow a legal standard when weighing whistle-blower suits under the False Claims Act, which is meant to punish those who defraud the government.

This particular case involved actions taken by the Federal Reserve Board and other regulators to shore up failing banks during the financial crisis. As the matter continues through the courts, it may shed new light on the details of these regulatory activities, including the entities that benefited and at what cost to taxpayers.

Read Full Article: Score one for the bank whistle-blowers


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