Often, bank and finance litigation stems from specific loans, trades, or other financial products and services. This sector has many types of disputes, including disclosure, management, and service issues. Many of these cases involve consumers, including allegations of securities and equal opportunity violations. Additionally, financial services institutions must comply with state and federal laws about consumer protection, fair credit reporting, and debt collection practices.
Expert witness testimony
Banks are involved in a wide variety of activities, including lending, deposit taking, and analyzing customers’ financial information. As a result, a banking expert witness’s expertise is invaluable when determining who is at fault in a particular situation. Issues in banking litigation can range from simple lending disputes to major conflicts involving the management of several financial institutions. In most cases, expert witnesses have extensive banking litigation support experience and can help attorneys determine who is at fault in a financial situation.
In cases involving bank contracts, expert witness testimony is necessary to prove which party did what or failed to do in violation of the terms and conditions of the contract. In many instances, parties to a contract may interpret the terms differently and act in ways that negatively affect the other party. Banking expert witness testimony is essential to determining which party prevails. Regulators and class action lawsuits are constantly challenging modern financial banking practices. Lenders have been accused of predatory practices, and borrowers have been suspected of exaggerating assets and income when applying for mortgages.
When your client is not paying you, asset tracing services are necessary to collect the debt and protect your business. These services are available in many forms and involve several steps. First, an investigator must gather as much information about the debtor as possible. To accomplish this, investigators use various resources to uncover detailed information about assets. However, liquid assets cannot be accessed by a third party legally. It is due to state and federal laws protecting such assets. However, some asset tracing companies claim to have the means to obtain liquid assets.
Asset tracing is crucial for both civil and criminal cases. Cash tracing is extremely difficult due to its fungibility, and a target may disguise their assets with instruments and vehicles. But real property is easier to trace. Real property is often used to hide assets, and a party may seek to leverage their assets by granting charges or obtaining mortgages. Ultimately, speed of action, surprise, and availability of evidence are important factors in successfully tracing assets.
The legal unit that hired the expert should know how many hours the testimony will require and discuss it with the expert. The expert should also determine what additional tasks the case will require him to perform outside his normal work. For example, he may need to perform tests that would not be appropriate for a non-expert. Lastly, the legal unit should determine the cost of hiring the expert’s services in similar litigation.
This expert is a broad-based banking executive and lender with extensive experience in various types of business lending, including mortgages and loans. He has a substantial background in residential mortgages, loan modifications, and compliance with government programs. In addition, a banking litigation support has extensive experience evaluating thousands of documents and 60,000 pages of discovery. Finally, he is qualified to provide a financial and legal assessment of the plaintiff’s case.