The NAM, the American Council of Life Insurance and the Health Insurance Association of America filed a joint brief supporting the petitioner’s view that materiality is an element of the federal mail fraud, wire fraud, and bank fraud statutes. Materiality plays a critical role in curbing frivolous civil litigation for fraud. Mail and wire fraud are the two most commonly alleged predicate acts for civil RICO claims that often arise in business tort litigation.
On June 10, 1999 the Supreme Court ruled unanimously that materiality is an element of these statutes.