Corporate settlement policy unlikely to be changed by Congress

At a congressional hearing on Thursday officials from four agencies — the SEC, the Federal Reserve, the Federal Deposit Insurance Corp and the Office of the Comptroller of the Currency — said requiring admissions of misconduct would hurt regulators’ ability to bring cases and would soak up limited resources….

Republican lawmakers on the House Financial Services committee agreed. “A policy that has judges micro-managing federal agencies in their exercise of enforcement authority and requires the government to engage in lengthy and expensive trials in every instance would not serve the best interests of taxpayers or investors,” Spencer Bachus, who chairs the committee, said in opening remarks.

via Corporate settlement policy unlikely to be changed by Congress — Reuters