Grant Thornton, LLP v. Office of the Comptroller of the Currency
Grant Thornton, LLP v. Office of the Comptroller of the Currency, 514 F.3d 1328 (D.C. Cir. 2008) (argued for OCC) (holding that an accounting firm was not subject to a cease-and-desist order or a CMP for accounting malpractice in failing to discover a massive fraud by a national bank in which half of its claimed assets were owned by correspondent bank and whose principal business was to securitize residential loans, holding that auditing a bank is not part of “conducting the business of banking” within the meaning the cease-and-desist statute, 12 U.S.C. § 1818(b)(1), or “conducting the affairs of” a bank within the meaning of the CMP statute, 12 U.S.C. § 1818(i).
Practice area(s): Administrative Law
Court: DC Circuit