The lack of clarity which follows from the sheer complexity of the scheme will sometimes, perhaps often, provide cover for such capriciousness.For example, the new CFPB will have latitude to determine what type of financial products can be provided to which consumers and at what cost, as well as the right to pursue institutions for acting in an "abusive" fashion (a term with no legal definition).
Having pursued financial institutions for questionable practices in equity research and investment banking, they are now busy with a subject much closer to ordinary Americans: mutual funds.
The New York Times and other media have covered the excesses of the financial institutions involved and the S.E.C.'s efforts to carry out its statutory obligation to pursue those institutions that have culpability generally as a result of fraud committed on investors.
"We're going to pursue financial institutions when we believe we can prove those cases," Lanny A. Breuer, the assistant attorney general, said in an interview on Thursday.
As demonstrated by the enforcement actions made public today, we and our regulatory partners will aggressively pursue financial institutions that fail to provide adequate disclosures to clients".
In his tenure with the agency, Khuzami oversaw efforts to pursue financial institutions that contributed to the subprime mortgage crisis.
"Some financial institutions pursued profit in a blind way without effective regulation.
His early studies were pursued mainly in institutions affiliated with the two dominant scholarly traditions (Tib.
The never-ending search for revenue contributed to the degradation of college athletics as institutions pursued conference realignment.
In essence, the doctoring of the Libor numbers interfered with a crucial signal in the marketplace, squelching the warning sign that a transparent Libor reading might have delivered as financial institutions pursued increasingly reckless trading in the run-up to crisis.
