Call me: 609-203-3666 - Banking Expert Witness

James J. Kreig has over 48 years of experience as an in-house attorney for banks, as a bank auditor and as a bank examiner for the New Jersey Department of Banking.

He has served as a bank expert witness and/or as a consulting attorney in numerous banking cases. These cases include forged and counterfeit checks, wire transfer fraud, automated clearing house (ACH) fraud, payment systems, checking and savings accounts, bank and branch operations, elder financial exploitation, and other related matters.

He provides his services for those involved in litigation both for and against banks. He has qualified as an expert witness many times in state and federal courts and can also assist in the preparation of cases for trial or arbitration.

Why Use a Banking Expert Witness?

Many cases involving banks require the use of testimony from an banking expert witness.  In a case implicating the negligence of a bank, courts generally take the view that the reasonable commercial standards of the banking business are beyond the common knowledge of a jury.  The testimony of an expert is needed to make out a prima facia case of negligence against a bank.  The expert must testify as to the standard of care of a bank, a deviation from that standard of care by the bank, and a causal connection between the deviation and the plaintiff’s loss. On the defense side, the testimony of an expert is needed for the same reason – to provide evidence for the jury that the actions of the bank met the required standard of care.

Knowledge of Banking Law

Knowledge of the facts in a banking case is not enough.  While most attorneys understand and agree that thorough discovery and proper evaluation of the facts are essential to success at trial, the facts must be obtained and analyzed through the filter of the relevant banking law.  Banking laws and regulations are complex and extensive.  Quite often, the relevant law is not obvious and regulations promulgated by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC) or other bank regulatory agency will govern the subject matter of the case.   Failure to identify the relevant statutes and regulations can lead to wasted discovery and/or inability to prove a case.

You Want an Experienced Banking Expert Witness

Rule 702 of the Federal Rules of Evidence states the requirements for testimony by expert witnesses as follows:

A witness who is qualified as an expert by knowledge, skill, experience, training, or education may testify in the form of an opinion or otherwise if:
(a) the expert’s scientific, technical, or other specialized knowledge will help the trier of fact to understand the evidence or to determine a fact in issue;
(b) the testimony is based on sufficient facts or data;
(c) the testimony is the product of reliable principles and methods; and
(d) the expert has reliably applied the principles and methods to the facts of the case.

To meet this requirement, your expert must have the necessary knowledge and experience in banking.  Moreover, your expert should be someone who has repeatedly qualified and testified as an expert.  Some say that there is an advantage in using an expert witness who has never testified before because the jury will find the testimony more believable.  However, the downside is that you often end up paying for the expert’s learning curve and the mistakes made in the expert report, at a deposition, and at trial.  You want a person who has an extensive experience in banking, knows the relevant law, has trial experience both as a  banking expert witness and as a trial attorney, and is willing to work diligently with you to win the case.  James J. Kreig is that person.