TARP Compliance and Enforcement: What the Legal and Financial Sectors can Expect

WASHINGTON, D.C., June 15, 2009 – Many financial and lending institutions have applied for funds from the Department of Treasury as part of the Troubled Asset Relief Program.  With President Obama emphasizing unprecedented transparency and accountability, Neil Barofsky, the special inspector general for TARP, has committed to monitoring the use of these funds closely.

With the recent passage of the Fraud Enforcement and Recovery Act of 2009, the potential for institutions receiving TARP funds to face False Claim Act issues has risen.

A panel session sponsored by the American Bar Association Section of Criminal Justice will discuss how TARP fund recipients and their counsels can prepare for the enforcement actions that are likely to increase, as well as other issues relating to the monitoring of funds and what is expected of fund recipients. The program will take place Thursday from 7-8:30 p.m. at Morgan, Lewis & Bockius LLP, 1111 Pennsylvania Ave. N.W., Washington, D.C.

Panelists
Kevin Puvalowski, deputy special inspector general, TARP
Mark Tenhundfeld, senior vice president, Office of Regulatory Policy, American Bankers Association
Meredith Auten, Philadelphia lawyer
David Berardinelli, Santa Fe, N.M., lawyer
Ken Evola, managing director, Huron Consulting Group
Alexandra Gaugler, Philadelphia lawyer

Moderator
Chris Myers, McLean, Va., lawyer

With more than 400,000 members, the American Bar Association is the largest voluntary professional membership organization in the world.  As the national voice of the legal profession, the ABA works to improve the administration of justice, promotes programs that assist lawyers and judges in their work, accredits law schools, provides continuing legal education, and works to build public understanding around the world of the importance of the rule of law.

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Note to Reporters: Reporters wishing to cover the program should contact Jane Singleton for credentials at 202/662-1093 or singletv@staff.abanet.org.