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Federal Reserve Considers Changes to Board of Director Expectations

The Board of Governors of the Federal Reserve System requested public comment on a proposal intended to enhance the effectiveness of boards of directors, refocusing the regulator’s supervisory expectations of boards....more

Fourth Circuit: Business Judgment Rule May Not Protect Bank Officers in FDIC Action

Why it matters - Bank officers may be liable in a lawsuit brought by the Federal Deposit Insurance Corp. (FDIC) while the directors escaped liability, in a new ruling from the Fourth Circuit Court of Appeals interpreting...more

Georgia Supreme Court: Business Judgment Rule Valid, But Bank Officers Can Still Be Liable

In the context of Federal Deposit Insurance Corporation (FDIC) litigation against the former directors and officers of a failed bank, the Georgia Supreme Court has upheld the validity of the business judgment rule in the...more

Confidential Investigations of Bank Activities

Scenario: In the course of a safety and soundness examination, the bank examiners identify certain unusual transactions and bring the issue to the attention of management. Management, in turn, recognizing the potential...more

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