RISK: Holder: 90 days to bring cases against mortgage crisis execs

The final decision will be up to Holder's successor

U.S. federal prosecutors have 90 days to decide whether they bring cases against individuals for their roles in the 2008 financial crisis, says U.S. Attorney General Eric Holder.

Through 2013 and 2014, JP Morgan Chase, Citigroup and Bank of America agreed to multi-billion dollar settlements for selling risky mortgage securities leading to the financial meltdown.

Nevertheless, the Department of Justice has been criticized for not holding top financial executives accountable. “To the extent that individuals have not been prosecuted, people should understand it is not for lack of trying,” said Holder.

Because he will soon leave office, Holder added that the decision over whether to prosecute individuals would be up to his successor, likely to be U.S. attorney for the eastern district of New York, Loretta Lynch.

Take a look at Reuters’ story “U.S. identifying people to target for role in mortgage crisis” for further details.

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Transcontinental Media G.P.