Professor David Reiss was quoted extensively in today’s Bloomberg article on Credit Suisse, the current target of New York Attorney General Eric Schneiderman in his pursuit of Wall Street banks for mortgage fraud. Credit Suisse asked a Manhattan judge in December to dismiss the case, as well as Schneiderman's demand for as much as $11.2 billion in damages. If the bank wins, Schneiderman will face a new roadblock as he considers similar multibillion-dollar claims against a dozen other Wall Street firms.
“It would obviously tilt everything in the favor of Credit Suisse and similarly situated financial institutions,” Professor Reiss said.
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