The US Justice Department expects to resolve more probes of financial firms in the coming months as part of its wide-ranging consumer fraud investigation, US Attorney General Eric Holder said in a weekly video message.
"In the months ahead, we expect to resolve other investigations involving financial institutions that chose to process transactions, even though they knew the transactions were fraudulent, or willfully ignored clear evidence of fraud," Holder said.
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The investigation, known as Operation Choke Point, is more than a year old and seeks to eliminate fraud by going after firms that handle and move money for various suspect businesses.
The US Justice Department has so far launched probes into at least 15 financial institutions, according to Reuters.
In April this year, the agency concluded a settlement with Four Oaks Bank of North Carolina, which worked with a third-party payment processor handling fraudulent transactions, as per US prosecutors.
"The investigation would not penalize businesses that follow the law," Holder concluded.
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