Year: 2025

fines against banks declined in 2021

Fifth Circuit Halts Corporate Transparency Act Amid Constitutional Challenge

The United States Court of Appeals for the Fifth Circuit ruled that the Corporate Transparency Act (“CTA”) is once again being put on hold as the court assesses its constitutional validity. The CTA is a law that is purposed for requiring businesses to disclose the identities of their beneficial owners. Read More

Bank of America Settles OCC Cease-and-Desist Order Over Compliance Deficiencies

Bank of America announced that it has settled with the Office of Comptroller of the Currency regarding a cease-and-desist order against the bank for deficiencies related to the Bank Secrecy Act and sanctions compliance programs. The settlement does not require that Bank of America pay a fine but rather take Read More