Free Republic

WASHINGTON — Stung by years of criticism that it has coddled Wall Street criminals, the Justice Department issued new policies on Wednesday that prioritize the prosecution of individual employees — not just their companies — and put pressure on corporations to turn over evidence against their executives. The new rules, issued in a memo to federal prosecutors nationwide, represent the first major policy announcement by Attorney General Loretta E. Lynch since she took office in April. The memo is a tacit acknowledgment of criticism that, despite securing record fines from major corporations, the Justice Department under President Barack Obama has...

The Justice Department issued new guidance to its prosecutors on Wednesday, aimed at encouraging more white-collar criminal cases against corporate executives. The new policies come amid persistent criticism that the Justice Department, even while negotiating multi-billion-dollar settlements with large banks, has not been aggressive in prosecuting individuals for financial misconduct—including after the mortgage crisis that devastated the U.S. economy. The policy changes were outlined in a memo issued to Justice Department attorneys and to the FBI, and Deputy Attorney General Sally Yates was expected to discuss the issue in a speech Thursday at New York University’s law school. Though it’s...