Joshua S. Bauchner, Esq. recently published an article in the national online journal, Law360, entitled “The Forgotten Bank Holding Company Act of 1972.” The article discusses the Bank Holding Company Act (“BHCA”) enacted by Congress to deter misconduct and compensate victims by permitting “[a]ny person who is injured in his business or property by reason of anything forbidden” in Section 1972 to bring suit. 12 U.S.C. § 1975. Congress intended the expansive BHCA to protect against the banking industry’s inherent coercive and anti-competitive market power by granting a private right of action to “any person” injured by “anything forbidden” in the statute, adopting per se liability, rejecting more rigorous requirements found in antitrust law, and awarding treble damages, fees and costs.
Please click here to read Mr. Bauchner’s article in its entirety.