DeNaples v. Office of the Comptroller of Currency

Petitioner challenged the OCC and the Board's authority to issue cease-and-desist orders pursuant to Section 19 of the Federal Deposit Insurance Act (FDIA), 12 U.S.C. 1829, as well as their respective conclusions that petitioner's agreement with the prosecutor triggered Section 19. Section 19 restricted who could participate in the affairs of insured depository institutions and bank and savings and loan holding companies. Because the agencies applied an improper definition of "pretrial diversion or similar program" and failed to adequately justify their positions on petitioner's expunction, the court granted petitioner's petitions for review in part, vacated the agencies' orders, and remanded for the agencies to determine whether the Agreement at issue fell within the parameters the court identified. The court denied the petition in all other respects. View "DeNaples v. Office of the Comptroller of Currency" on Justia Law