By Kevin Wack and Jesse Eisinger / <a href="www.propublica.org/article/sen-elizabeth-warren-asks-why-the-justice-department-went-easy-on-big-banks">ProPublica</a>
Source: Read full article at Truthdig
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This article was produced in partnership with American Banker.
Sen. Elizabeth Warren is demanding information from the Justice Department about actions that Trump administration officials took last year to reduce the penalties against two large banks that sold faulty mortgages to investors in the run-up to the financial crisis.
“These weak settlements send a clear message to financial institutions and white-collar criminals that they can evade accountability as long as they are wealthy and well connected,” wrote Warren, a Massachusetts Democrat, in a letter Monday to Attorney General William Barr. “It is unconscionable that the Administration is refusing to hold corporate criminals fully accountable for their role in the financial crisis.”
Political appointees at the DOJ’s headquarters in Washington, D.C., overruled the judgments of staff prosecutors who wanted Barclays and the Royal Bank of Scotland to pay substantially higher penalties than they ultimately did,…