Small-Firm Lawyer Takes on Wall Street and Wins, Twice

Photo Credit: REUTERS/SARAH CONARDBefore attorney David Wasinger decided to take on two of the biggest global banks in federal court in New York, he had visited the city just twice: once when he was 6, and the second time on a tour bus with his children.

As the sole partner at a five-attorney firm in St. Louis, Missouri, Wasinger was mostly focused on local business litigation and had never represented a whistleblower.

But in January 2012 an old business acquaintance was ready to go public with accusations of widespread mortgage fraud at Bank of America’s Countrywide unit, and he turned to Wasinger.

That touched off a series of events that put Wasinger at the center of two of the biggest legal cases to emerge from the 2007-2009 financial crisis, against Bank of America and JPMorgan Chase & Co, respectively.

In January, the U.S. Attorney’s office in Manhattan said it is seeking up to $2.1 billion in penalties from Bank of America after a jury in October found the firm liable for fraud over defective mortgages sold by Countrywide. Wasinger’s client, former Countrywide Executive Vice President Edward O’Donnell, was the star witness for the prosecution.

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