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Leader of Justice Department’s financial crisis investigations stepping down

Acting Associate Attorney General Stuart Delery leaving for private sector

Stuart Delery, the third in command at the Department of Justice and leader of the DOJ’s investigations into the conduct of banks during the financial crisis, is stepping down to pursue interests in the private sector.

Delery took over as Acting Associate Attorney General when Tony West stepped down in 2014.

In his time as the lead of the DOJ’s Civil Division, Delery oversaw massive settlements with several financial institutions for their business practices during the financial crisis, including a $200 million settlement with U.S. Bancorp for False Claims Act Violations, a $601 million settlement with HSBC over charges that the bank engaged in mortgage origination, servicing and foreclosure abuses, a $50 million settlement with JPMorgan Chase over improperly signed bankruptcy documents, and others.

According to the DOJ, Delery is leaving the DOJ later this month, and a report from Bloomberg states that a replacement for Delery is waiting in the wings.

From Bloomberg:

Assistant Attorney General Bill Baer, who heads the antitrust division, will likely be named to replace him on an acting basis, according to a person familiar with the matter, who asked not to be named because the selection isn’t public.

“For over seven years – since the very first day of the Obama Administration – Stuart Delery has been an indispensable source of wisdom, leadership and inspiration at the Department of Justice, working relentlessly to make the ideals of equal opportunity and equal justice a reality for all,” Attorney General Loretta Lynch said of Delery.

“He has proven himself a superlative lawyer and a dynamic force for progress, both within the department and far beyond it. Stuart was involved in many of the department’s most consequential cases and programs, and he invariably brought both skill and passion to a wide range of critical issues,” Lynch continued.

“Across all of his efforts – from launching the department’s Servicemembers and Veterans Initiative, to implementing the Supreme Court’s landmark ruling in United States v. Windsor, to leading unprecedented actions to address financial fraud and consumer safety – Stuart has been dedicated, above all, to making a meaningful difference in the lives of Americans who need our help and deserve our attention,” Lynch added.

“We can all take pride in the many ways he has helped to make this country more fair, more equal and more just,” Lynch concluded. “I am grateful for his distinguished record of service, and I wish him the very best in the next steps of his already illustrious career.”

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