Stuart Delery, the third in command at the Department of Justice and leader of the DOJ’s investigations into the conduct of banks during the financial crisis, is stepping down to pursue interests in the private sector.
Delery took over as Acting Associate Attorney General when Tony West stepped down in 2014.
In his time as the lead of the DOJ’s Civil Division, Delery oversaw massive settlements with several financial institutions for their business practices during the financial crisis, including a $200 million settlement with U.S. Bancorp for False Claims Act Violations, a $601 million settlement with HSBC over charges that the bank engaged in mortgage origination, servicing and foreclosure abuses, a $50 million settlementwith JPMorgan Chase over improperly signed bankruptcy documents, and others.
According to the DOJ, Delery is leaving the DOJ later this month, and a report fromBloomberg states that a replacement for Delery is waiting in the wings.
Assistant Attorney General Bill Baer, who heads the antitrust division, will likely be named to replace him on an acting basis, according to a person familiar with the matter, who asked not to be named because the selection isn’t public.