Financial Institutions can be Sued under the Whistleblower Provisions of the False Claims Act for Defrauding the Federal Reserve

Fraud in connection with receipt of federal bailout funds held to be actionable under the False Claims Act The Second Circuit Court of Appeals has ruled in favor of two financial sector qui tam whistleblowers, reviving their claims under the False Claims Act that Wells Fargo lied about its financial condition in order to get billions of dollars in low-interest emergency bailout