Financial Expert Witness: Why You Need One on Your Case
A finance litigation case can be complex which is why you should turn to a financial expert witness to aid your case. A financial expert has historical knowledge and a financial background to understand banking regulations and help you determine how they relate to your legal strategy.
Interpreting Banking Regulations
Whether you’re dealing with a plaintiff or defendant, the review of banking regulations and understanding how they relate to your case is essential. Regulations that cover capital requirements, reserve requirements, extensions of credit, and home mortgage disclosures can be complicated and full of loopholes. A financial expert witness is able to relay these regulations into a language that’s understandable for a jury or judge.
Understanding the Background
A financial expert witness is well versed in knowing the background of a case by doing a few things for you. He or she can review and analyze financial records which may support your defense. Financial records actually tell a story that has brought your client to a court proceeding, thus an expert witness can read the story for you. Also, if your client is a business owner, a banking expert can review your client’s financial documents to ensure that you have a full comprehension of your client’s business.
Assessing Financial Damages
With some cases, some areas of financial impact can be identified quickly. In knowing your client’s financial background and connecting this information to banking regulations, a bank expert witness can logically pinpoint causations and patterns, prior to discovery, and identify issues that counsel may not have considered exploring previously. Or there may be additional damages, or holes in the claim that are found. This is why it’s essential to retain a financial expert witness early on, to do this analysis and ensure there are no unpleasant surprises.
Since 2009, Michael F. Richards has served as a financial expert witness in 27 states and 79 cases, for both plaintiffs and defendants. He’s qualified and testified in arbitration, as well as Federal and State courts. Also, he has considerable experience in writing expert witness reports that meet Federal Rule of Civil Procedure 26. Contact Michael now for a personal consultation on your case.