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Orrick, Herrington & Sutcliffe LLP

U.S. Supreme Court rules misleading statements to FDIC not criminal

Orrick, Herrington & Sutcliffe LLP on

On March 21, the U.S. Supreme Court issued an opinion regarding the meaning of “false statement” in 18 U.S.C. § 1014 which defines terms for those who knowingly make a false statement or report. The case’s petitioner had...more

Fox Rothschild LLP

Federal Reserve Board Fines Bank for Processing PPP Loans That Had Signs of Fraud

Fox Rothschild LLP on

In its first enforcement action related to COVID-19 government aid programs, the Federal Reserve Board recently announced that it has fined New York-based Popular Bank $2.3 million for processing Paycheck Protection Program...more

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