Calif. AG Backs Bill To Revamp 'Abysmal' Corporate Penalties

[Gunnar Larson]

Calif. AG Backs Bill To Revamp 'Abysmal' Corporate Penalties
<https://www.law360.com/banking/articles/1823494?nl_pk=feb6bbba-7878-4d39-be6e-46810c922ad7&utm_source=newsletter&utm_medium=email&utm_campaign=banking&utm_content=2024-04-10&read_main=1&nlsidx=0&nlaidx=6>

By Hannah Albarazi

California Attorney General Rob Bonta gave his full support Tuesday to a
state bill that would increase the cap on criminal penalties for corporate
malfeasance from the "abysmal penalty" of $10,000 per felony to $25
million, or twice the value of the inflicted loss, and provide all proceeds
to California's crime victim services.

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<https://www.law360.com/banking/articles/1823494?nl_pk=feb6bbba-7878-4d39-be6e-46810c922ad7&utm_source=newsletter&utm_medium=email&utm_campaign=banking&utm_content=2024-04-10&read_more=1&nlsidx=0&nlaidx=6>
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