Sarbanes-Oxley May Expose Bank Execs to Suits in Foreclosure Doc Mess

Berry, Kate
October 2010
High Yield Report;10/25/2010, Vol. 21 Issue 43, p11
This article discusses the exposure of bank executives in the U.S. to lawsuits concerning foreclosure documents in 2010. It attributes the situation to the Sarbanes-Oxley Act of 2002, which required executives to ensure the accuracy and completeness of financial statements released by their company. It notes the criminalization of providing false or misleading information to Fannie Mae or Freddie Mac. The article also explains the role of internal auditing in addressing the problem.


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