The Forgotten Bank Holding Company Act Of 1972

Law360, New York (June 12, 2012, 5:18 PM EDT) -- The Bank Holding Company Act (“BHCA”) was 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...
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