Tips for Selecting a Financial Expert Witness

Attorneys are certainly well-versed in many facets of the law. However, sometime cases can be cumbersome and require someone with in-depth knowledge of the subject matter. This is often the case with cases involving financial law. Financial law can often be circuitous and challenging, and in order to properly explain these difficult concepts, it takes a person who not only specializes in financial law but also has real-world experience in the financial field. This is where a financial expert witness comes into play.

Financial expert witnesses can bolster your case by providing useful information and informed, unbiased analysis. He or she can also provide this information using language that the layperson can easily grasp and understand. When looking for the right financial expert witness, be sure to look for someone who specializes in the subject matter at hand. Expert witnesses can range from certified public accountants, finance specialists, economists, and fraud examiners.

Another factor you should consider is the financial expert witness’s experience in providing testimony. You want to make sure that your expert witness knows the Federal Rules of Evidence, as well as how to create detailed, written opinions to accompany testimony. It is also important that your financial expert witness can display excellent communication skills, as he or she will be providing dense information to a jury who probably won’t know intricate financial law.

What is Lender Liability?

Michael F. Richards is well versed in a wide variety of subjects in the banking and financial industry. His knowledge and experience has been used in serious trials all over the country, and he has built a reputation as an indispensable wealth of knowledge that will only bolster your case and add credibility to your client.

One of his areas of expertise is lender liability. Since the 1980s, lender liability has gained prominence in courts, and now, it accounts for a large number court cases all across America. Despite its ubiquity, many people are unaware of what exactly lender liability is. Simply put, lender liability law states that lenders must treat their borrowers fairly. It seems simple enough; unfortunately, there have been plenty of lenders who try to take advantage of their borrowers, and chances are these underhanded practices will continue in the future.

At first, most cases involved the lender suing the barrower for failure to pay and other breaches of loan agreements. Once lender liability became law, the tables turned. Borrowers found themselves with much better protection against shady lending practices, and became just as likely to sue lenders for breaches on their part.

One of the most common times lender liability is brought into the court is when a lender fraudulently induces a loan agreement or if there wasn’t mutual consent. In these cases, the lender can most certainly be sued.