Senior Bank Officers Allegedly Involved In Loan Reporting Scheme

Banking Expert

This case involves a bank’s alleged criminal reporting and disclosure of loans. The loans in question were automatically listed as “past due” in some of the bank’s internal tracking systems due to having passed the principal maturity date. However, some of the bank’s senior officers did not report the loans as “past due” because they were current on interest payments. It was alleged that regulations mandated reporting the loans as “past due” to the federal reserve despite the fact that they were current on interest payments. An expert in banking with an understanding of the federal reserve’s reporting requirements was sought to assist on the case.

Question(s) For Expert Witness

  • 1. Please describe your professional experience as it relates to banking, specifically the federal reserve.
  • 2. Are you familiar with bank reporting requirements, specifically relating to "past due" loans? Please explain.

Expert Witness Response E-016407

I had a 20-year career at the federal reserve and was an officer there for 10 of those years. I was most recently the deputy associate director focusing on credit, market, liquidity, and operational risk policy.  I took on an executive director position at a top accounting firm. I’ve served in several official categories and have broad, higher-level capital markets expertise, which includes strong familiarity with the federal reserve’s troubled asset relief program. After I joined the accounting firm, I acted as a subject matter expert on regulatory reform issues, capital and liquidity rules, as well as other corporate governance issues for a financial services risk management advisory practice. I’m very familiar with these issues of “past due” loans being not reported, though I would need to learn more about the circumstances before providing an opinion on this particular situation. I have advised on several legal cases since becoming an independent consultant.

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