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OCC

The logo of Bank of America in modern office building in Beverly Hills.

Banking: BoA fined for consumer accounts practices

Bank of America is the latest target of the Consumer Financial Protection Bureau’s (CFPB) and The Office of the Comptroller of the Currency’s (OCC) enforcement actions regarding banking practices involving consumer accounts. Bank of America was ordered to pay $100 million to customers, $90 million in penalties to the CFPB. It must also pay $60 […]

Written by on August 15, 2023

SCOTUS will review federal agency power to bring enforcement actions

SCOTUS To Review Jarkesy, Federal Regulatory Power to Bring Enforcement Actions

On June 30, 2023, the United States Supreme Court granted the petition for certiorari of the Securities and Exchange Commission to review Securities and Exchange Comm’n v. Jarkesy, et al., Case No. 22-859. The government’s petition raised the following questions: Whether the statutory provisions that empower the Securities and Exchange Commission (SEC) to initiate and […]

Written by on July 8, 2023