
OCC Hammers US Bank for Bankruptcy Filing Violations
The OCC announced a $15 million civil money penalty against U.S. Bank NA related to 2009 to 2014 filing practices in bankruptcy courts with respect to related documentation that did not comply with bankruptcy rules and constituted unsafe or unsound banking practices. Details on what U.S. Bank did are still emerging, but here's what we know so far. We also know that they are being required to pay $29 million more in restitution to about 22,000 customers. [4/26/17]


