When litigations involve the world of banking, attornies can turn to expert witnesses that deal specifically with the world of finance. These banking expert witnesses are hired by law firms when an unbiased party is needed in a financial dispute. Disputes can range from mortgage concerns to fraudulent lending practices, and a convincing testimony from a banking expert can have more influence on the verdict of a case than other evidence presented. Read on to learn more about these experts and how they can make or break a financial lawsuit.
Why are Banking Expert Witnesses Necessary?
Banking laws are complex, and while a good attorney will have knowledge of basic financial laws, a banking expert will have a more complete grasp of the complicated laws in the financial world. By consulting with banking expert witnesses, an attorney can use their knowledge and experience to help build cases for clients. An expert witness is crucial to winning legal cases, and when questions arise that deal with banking, this expert can provide the knowledge necessary to help a judge or jury decide on a case.
What Types of Cases Require Banking Expert Witnesses?
When a banking expert is called to the witness stand to testify, the type of case can be simple or complex in nature. Banking expert witnesses may be called for consults on overall management policies within a bank, and at the same time, they may have to testify in a case about predatory mortgage practices. The following are a few services where a banking expert witness would be beneficial to an attorney’s team.
- Customer financial statements with inaccuracies
- Questionable policies and practices of financial institutes
- Contractual disputes
- Fraud and bankruptcy
- Clarification of truth-in-lending policies
- Mortgage asset disputes
Banking expert witnesses are the foundation an attorney can use to build a winning case in the arena of financial litigation.